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$1200 is barely enough for one month for most people. for a lot of urbanites, that check will get eaten by rent more or less immediately. if not this month's re
by cryoshon 6y ago
$1200 is barely enough for one month for most people. for a lot of urbanites, that check will get eaten by rent more or less immediately. if not this month's rent, next' month's rent, and so on. if not rent, then food. or healthcare. or essential utilities, or car payments.
when things get tough and there is scarcity, people save more and spend less. as far as the unemployment benefits go, i think most people will still be very reluctant to spend on anything other than staples until they have a sustainable way of generating income that isn't dependant on a government program.
many of today's workers remember the duration of the unemployment benefits offered during the great recession -- and they remember for how many years economic conditions were difficult long after those benefits ended, even including the extension programs. everyone sees that there is a substantial chance of an extended and deep COVID depression which might dwarf the great depression and will certainly dwarf the great recession. you're not going to convince people to spend money in that environment.
plus, most of the things people would usually spend on are either explicitly off-limits or unlikely to be purchased in the current situation.
- deleted 6y ago[deleted]
- CydeWeys 6y ago> $1200 is barely enough for one month for most people. It's only enough if you stop paying your mortgage/rent and utilities. It's certainly not enough for most people if they still have those expenses on top of everything else. Though, admittedly, lots of people are getting substantially more than that -- a married couple earning even into six figures gets $2,400 plus $500 per kid.