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> Most of the middle class kept their jobs and kept spending because businesses and people were given regular financial jolts via deficit spending.

• kube-system 5y ago
  That was just enough to provide a month or two of head start so that the real demand driver could kick in: People working flexibly who now had no commute spending, no vacation spending, and kept their high wage office jobs. The amount of money the typical office worker has saved on just those two expenses is more than the stimulus checks.
  • dominotw 5y ago
    >That was just enough to provide a month or two where did all the trillions of dollars go . it somehow ended up in these people's pockets one way or another.
    • kube-system 5y ago
      Wages over the same time period are about 4 times the amount of total COVID relief spending of all types combined. The dollar value of the COVID relief may be less of an impact than the fact that it prevented a larger labor market collapse and kept people earning wages. The stimulus was just a spark that kept the larger American consumerism machine chugging strong.
      • dominotw 5y ago
        there wasn't just stimulus though. There were a whole host of things, pause on loan payments, child tax credits, rental assistance, small business loans ect ect.