logoalt Hacker News

Aurornisyesterday at 6:39 PM2 repliesview on HN

> It is not weird if you were old enough to be aware of the news during that time. Poor people in the US suddenly coming into money and being lifted out of poverty thanks to COVID stimulus checks was front and center in the news cycle as it was happening.

A lot was written about the stimulus checks but they were so small to not matter. A $1200 check isn't going to suddenly lift a lot of people out of poverty and keep them there, even though it could be make-or-break for a few selected cases.

The bigger change was that the American economy was basically turbocharged by all of the interventions going on. Remember "The Great Resignation" when everyone was changing jobs because all the companies were hiring as fast as they could? It was an ideal time to move your way into a better position in the job market.


Replies

phainopepla2yesterday at 7:01 PM

It was the unemployment checks much more than the stimulus checks that made a difference. There was an extra $600/week tacked on to those during COVID. I know a lot of people who were making more on unemployment during that time than they ever had made while working.

9rxyesterday at 6:46 PM

> A $1200 check isn't going to suddenly lift a lot of people out of poverty

"A lot" is subjective, I suppose. Concretely, it lifted 11.7 million Americans[1] out of poverty. That makes up approximately 30% of those who were in poverty prior to the stimulus.

[1] https://www.commondreams.org/news/2021/09/14/incredible-covi...

show 1 reply