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Friday, July 1, 2022

Compelling Reasons Why Stimulus Checks Have Worked During The Pandemic

The economic downturn caused by the pandemic has brought misery throughout the nation. But most Americans have managed to avoid the ultimate consequences, mostly due to the multiple stimulus checks plus other measures undertaken to help citizens tide over the crisis.

Figures released recently by the Census Bureau reveals that an astounding 53 million citizens were saved from the consequences of dire poverty by the support of the stimulus checks. This is an admirable rise over the 35M citizens who were saved from poverty the previous year.

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The figures reveal that the measures undertaken by the federal government were justified. But the measures need to continue to help Americans ride out the ongoing economic downturn.

Data Reveals That Stimulus Checks And Other Measures Saved 8.5m People From Poverty

The prompt action of pushing through legislation and measures such as direct deposits into accounts helped push down poverty levels in 2020 to much below normal levels.

Data reveals that there would have been an increase of over 2.8% in the number of Americans facing poverty in the absence of the stimulus check. that would have meant many more struggling to support the basic needs of their families.

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Once government aid was factored into the economy, there was an admirable 2.6% drop in the numbers crushed by the debilitating poverty caused by the pandemic. In figures, that comes to 8.5M people who would have an income inadequate to take care of the essentials.

It was a combination of measures that helped Americans during these trying times. The unemployment benefits, stimulus checks, nutritional support measures, and a host of other steps, helped millions stay away from poverty.

The three stimulus checks alone were responsible for helping 12M people during the pandemic. The expanded unemployment support helped another 5.5M, and nutritional aid helped another 3.2M stay afloat.

But unfortunately, the measures have been withdrawn even as the economic downturn continues to hurt Americans. Lawmakers need to consider expanding the stimulus check support to include a fourth check to help Americans through the turbulent times.

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