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Even in its massive printing of money, the government gave about $13,000 of stimulus to 150 million households across 2 years (this is counting things like incr

Even in its massive printing of money, the government gave about $13,000 of stimulus to 150 million households across 2 years (this is counting things like increased unemployment benefits, food assistance, delayed student loan payments, etc). This puts the stimulus at below the second decile for income for a single year. Even for the most frugal of households, the money the government handed them long ago ran out.

newfriend 4y ago
This is not correct. There were a multitude of payments given out besides stimulus. The CARES act alone gave $600/week of federal money for 17 weeks, totaling almost 11k. You are vastly underestimating the amount of aid given for unemployment. It's been so widely known that it's become a meme: the unemployed person making more money playing xbox than they did when they had to work. [1] https://taxfoundation.org/total-covid-relief-unemployment-insurance/ https://taxfoundation.org/total-covid-relief-unemployment-in... [2] https://twitter.com/MarcGoldwein/status/1371277417600454658 https://twitter.com/MarcGoldwein/status/1371277417600454658
- NineStarPoint 4y ago
  I wasn’t just talking about the stimulus checks. 2 trillion is the entirety of extra money spent by the federal government on individuals over the course of the various pandemic bills. (There was another 2.5-3 trillion of spending, but that was spent on other interest groups such as businesses and medical providers) You’re right that the maximum amount of money an individual could have received from the government is quite high. But for every household that received more than the 13k I stated above, other households received proportionally less. (Which is to say while undoubtably some people lived the meme you mentioned, the vast majority of people weren’t given that much money) Plus it doesn’t change the main point that the spending stopped in Sept 2021. We’re two months off from it having been a year since extra unemployment benefits were a factor.

newfriend 4y ago

This is not correct. There were a multitude of payments given out besides stimulus. The CARES act alone gave $600/week of federal money for 17 weeks, totaling almost 11k. You are vastly underestimating the amount of aid given for unemployment. It's been so widely known that it's become a meme: the unemployed person making more money playing xbox than they did when they had to work. [1] https://taxfoundation.org/total-covid-relief-unemployment-insurance/ https://taxfoundation.org/total-covid-relief-unemployment-in... [2] https://twitter.com/MarcGoldwein/status/1371277417600454658 https://twitter.com/MarcGoldwein/status/1371277417600454658

NineStarPoint 4y ago
I wasn’t just talking about the stimulus checks. 2 trillion is the entirety of extra money spent by the federal government on individuals over the course of the various pandemic bills. (There was another 2.5-3 trillion of spending, but that was spent on other interest groups such as businesses and medical providers) You’re right that the maximum amount of money an individual could have received from the government is quite high. But for every household that received more than the 13k I stated above, other households received proportionally less. (Which is to say while undoubtably some people lived the meme you mentioned, the vast majority of people weren’t given that much money) Plus it doesn’t change the main point that the spending stopped in Sept 2021. We’re two months off from it having been a year since extra unemployment benefits were a factor.