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This is what happens when you send 'stimulus checks' to a bunch of people with credit card debt: > This was the steepest decline in card balances seen in the h
by glial 6y ago
This is what happens when you send 'stimulus checks' to a bunch of people with credit card debt:
> This was the steepest decline in card balances seen in the history of the data.
- nine_zeros 6y agoThat was the whole point of the check. Inflate the debts away and allow people to live in current circumstances. Future inflation is for future generations once all the oldies in congress die.
- T-hawk 6y agoI don't know anyone who used the stimulus to pay down debt, it's all gone into rent and current bills. I think it's more about less digging deeper into the hole. You can't incur more debt on things like movies, sports, travel, or a dozen other industries when they're all closed indefinitely. The keeping-up-with-the-neighbors factor also has to be less when you can't meet your neighbors.