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The massively high unemployment payment is a large part of why we saw a 33% drop in GDP last quarter. You can argue whether it was good or bad that we [over-]pa
by zaroth 6y ago
The massively high unemployment payment is a large part of why we saw a 33% drop in GDP last quarter. You can argue whether it was good or bad that we [over-]paid people not to work, but the obvious effect is that GDP cratered because working would make most people lose money.
- throwanem 6y agoThat's a remarkable claim - namely that the GDP hit was primarily due to supplemental unemployment, rather than to a collapse in consumer demand across many sectors as a result of the pandemic. You'll understand, of course, that I'm going to need something more than your unsupported assertion to be convinced that this is the case.
- deleted 6y ago[deleted]