74% of families with children making less than $100,000 have “experienced serious financial problems” during this crisis

The reason why so many people are clamoring for Congress to get another stimulus bill passed is because an unprecedented number of households are in desperate financial need right now.  As you will see below, millions of Americans missed their rent or mortgage payments last month, millions missed their student loan payments, and millions are falling into poverty.  The economic downturn that was sparked by the coronavirus pandemic has stretched on far longer than most people originally anticipated, and many Americans are simply running out of money at this point.  In fact, one survey that was conducted not too long ago found that 40 percent of all households have “used up all or most of their savings” and 74 percent of families with children that make less than $100,000 a year have “experienced serious financial problems” during this crisis… (Read More...)

Millions Of Americans Are Now Making Far More Money Being Unemployed Than They Did When They Were Actually Working

More than 26 million Americans have filed new claims for unemployment benefits in recent weeks, and a lot of them will now be bringing home much more money than they did while they were actually working.  Needless to say, this is going to create a perverse incentive for people to stay unemployed for as long as possible.  Just think about this for a moment.  If you could earn more money sitting on your sofa gobbling down chips and watching Netflix, what possible motivation would you have to go back to work?  Many low paid workers are going to want to ride this gravy train all the way to the end, and as you will see below, this is already causing big problems for businesses all across America. (Read More...)

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