Giving people free money has kept 12 million people out of poverty and given the economy a crucial boost
Millions of Americans remain out of work due to the pandemic. But a wave of federal assistance through unemployment benefits and stimulus checks has kept many afloat and out of poverty."You give lower income people money and they're spending all of it, which is the biggest economic boost," Amanda Fischer, policy director at the Washington Center for Equitable Growth, told Business Insider.
Still, despite the lack of future clarity, experts say the assistance that's already been provided has offered struggling families a financial cushion amid an extraordinary blend of public health and economic crises.the government intervention helped keep around 12 million people out of poverty, and many jobless workers saw their incomes increase during the pandemic.
"You give lower income people money and they're spending all of it, which is the biggest economic boost," Amanda Fischer, policy director at the Washington Center for Equitable Growth, told Business Insider. Experts warn that cutting unemployment aid could lead to sharp reductions of spending that props up the economy
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