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Member since: Mon Oct 31, 2016, 08:09 PM
Number of posts: 9,449

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Yahoo Money: Stimulus led 'to dramatic declines in material hardship' amid the pandemic, data shows

"The last two stimulus packages significantly reduced the number of Americans suffering from hunger, financial hardship, anxiety and depression, a new study found.

Financial instability fell by 45% from December 2020 to April 2021, according to a new paper by Poverty Solutions at the University of Michigan. Additionally, food insufficiency decreased over 40% and mental health symptoms dropped by 20%.

“Following the December COVID Relief bill and then again from the American Rescue Plan passed in March, you see dramatic declines in material hardship experienced by U.S. households,” Patrick Cooney, a professor at the University of Michigan who co-authored the study with Luke Shaefer, told Yahoo Finance Live (video above). “Just an amazing and dramatic sign that stimulus checks and expanded unemployment insurance are doing an awful long way to support U.S. households in the pandemic.”

As part of those packages, Americans received two rounds of stimulus checks — $600 per person checks were distributed in the winter and $1,400 per person payments were sent out in the spring. Additionally, unemployed workers received extra weekly benefits of $300 during the same period. Both measures helped alleviate financial hardship for U.S. households, according to Cooney, which, in turn, helped to lessen mental health issues.

Declines in material hardship were greatest among low-income households. At the end of 2020, 28.6% of households making below $25,000 reported that paying for usual household expenses was very difficult. That number dropped to 16.1% in April as the $1,400 checks were distributed.

Food scarcity also fell at a record pace, driven by a steep decline in hardship among low-income households. Between December 2020 and April 2021, the number of adults earning below $25,000 who reported food insufficiency fell by over 3 million. Additionally, food insecurity significantly dropped for households making between $50,000 and $100,000, the paper found.

‘In a better bargaining position to get higher wages going forward’
Improved mental health also coincided with the implementation of the two relief bills. More than two thirds of adults reported feeling nervous, anxious, or on edge in December, but six months later, just over half of adults felt that way.

Despite these benefits, critics now argue that the pandemic benefits — specifically the jobless programs — are keeping workers from returning to their jobs. Twenty-five GOP-led states plan to opt out of federal unemployment programs this month even though they expire on September 6.

Despite missing estimates in April and May, overall job growth has been faster than in past recessions, according to Cooney, and workers will come back as the economy reopens. They also may be able to negotiate higher wages, he said.

And these damn 25 red states are denying unemployment benefits to residents in between jobs

Huffpost: Prominent Republicans Put GOP On Notice With Breakaway Party Threat


They should have done it the day the party elected the moron. Better late than ever i guess.
Sad thing is Liz Cheney & former senator Jeff Flake - who both now oppose him - helped create this monster. Cheney is now standing up to him, now that her position is threatened. But in the past she's stuck w/ his birtherisms & anti-Muslim lies. Same w Flake. His name says it all.



MSN: Biden administration to return billions in border wall funding diverted from Pentagon


"The Biden administration is returning to the Pentagon billions in funds diverted by President Donald Trump to build the wall at the southwestern border, and plans to cancel all related construction contracts, an administration official told ABC News on Friday."

Well well well so much for that damn wall

Another Jen Psaki takedown of a RW journalist - OUCH!



Love Jen. Love her dismissing arm movement and calm demeanor when she cuts off the nutters' nonsense spewing heads.

What i made this morning: Vietnamese Pho

Had a hankering for a good bowl of hot steaming pho noodles, so i parboiled some beef bones & threw in a couple chunks of brisket (grub for the hubby) to flavor the broth. Then i washed the bones &brisket, put them in a 7-quart crockpot along with aromatics &spice seasonings, &let simmer on high for about 15 hours in time for dinner. How do yall make your pho broth& for how long do you let it simmer?

Pho is one dish i can have any time of the day, especially when i'm under the weather. Very comforting, satisfyingly good & filling.

Shut the front door! - young Dems now like Biden more than Bernie


31% Biden to 28% Bernie...who'da thunk it?!%&#!

Biden on Pace to Administer 200 Million Vaccine Doses in First 100 Days -- What to Know


The Biden administration has upped its initial COVID-19 vaccination goal to 200 million doses administered in the first 100 days of his term.
The White House also outlined a four-part plan to increase the availability and access to vaccination sites.
Currently, 46 states are track to open vaccine eligibility to all adults by May 1.
The vaccine rollout, however, is continuing to play out very differently in individual states based on available supplies and local vaccine hesitancy.

This past Thursday i got my first Pfizer dose @a Walgreens, and my daughter got hers at the county's mass vaccination location (at a drivethru event in the parking lot of a sports complex). She said the rollout was very orderly. My experience at Walgreens was also very orderly. Before and after me there were several vaccine recipients, and we each were processed and in & out in a half hour, including the 15 minutes post-shot wait period. The nurse giving the shots was very professional and caring. I could not have asked for better and other than the slight arm soreness for a couple days, had no reactions at all. More importantly, i was so relieved that both my daughter & i finally got vaccinated.

Current vaccine administered is 162M - the work of a highly competent administration :

CNN: Feinstein says she plans to serve out full term after Newsom vows to appoint a Black woman to

replace her:


I really do think given her very advanced age (87) & situations where we've seen her act very forgetfully that she really needs to resign & have Gov. Newsom appoint someone in her place.

Donny Deutsch: MOJO JOE

Almost lost my coffee when i heard Donny call Joe Biden this just now.
"He's not Sleepy Joe; he's Mojo Joe".


I'm going to use this nickname for POTUS going forward

This week in Bidenomics: Get ready for the Biden boom


This is the rationalization for Biden’s $1.9 trillion American Rescue Plan, which seems likely to pass in March. Congress may not approve the entire amount, but there will almost certainly be another $1,400 check, or more, for most families and an extension of supplemental unemployment benefits. The final price tag could be around $1.5 trillion. That would boost the total amount of fiscal stimulus during the last year to nearly $6 trillion, by far the most aggressive federal response to a recession since the 1930s.

Then, the boom will arrive. A variety of indicators are beginning to foretell a surge in economic growth, and the consequences of that. Retail sales surged 5.3% in January, much more that expected. One factor boosting spending was the $600 stimulus checks that went out to most homes in early January, as part of the late-2020 stimulus bill. Business spending picked up, as well, not surprising since CEO confidence recently hit a 17-year high.
With even more stimulus cash likely to hit mailboxes soon, economists are raising their forecasts for GDP growth. From Feb. 12 to Feb. 19, the New York Federal Reserve’s estimate of first-quarter GDP growth jumped from 6.7% to 8.3%. Forecasting firm Capital Economics expects full-year real GDP growth of 6.5% in 2021, which would be the strongest since 1984. “There is no recession,” says former Congressional Budget Office Director Douglas Holtz-Eakin. “The economy is growing strongly.”

Covid vaccinations are another bullish indicator. Biden says ample vaccines could be available by July, and other health experts think herd immunity could arrive sooner. That could bring a quicker revival of the gasping parts of the economy.

I typically don't like Yahoo articles but this is a good one. Plus i like the sound of "Biden Boom!"

Biden's shaping up to be a phenomenal POTUS!

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