LogFAQs > #942376776

Solid Snake07 posted...

The vast majority of Americans are living paycheck to paycheck and thriving off of debt to live in houses and drive cars they can't afford. This isn't exacly a secret. 4 out if 5 Americans are living paycheck to paycheck, and that's not just people who aren't making very much money.

I'm not contesting that a vast majority of Americans are living paycheck to paycheck. I'm contesting that a vast majority of Americans are living paycheck to paycheck not because they don't know how to save.

Solid Snake07 posted...

This is basically the same question.....once again not a secret or contested.

Again you're equating the two. And you're not answering it. You sound like Reagan in the 80s crying about welfare queens without providing said evidence of these welfare queens.

Solid Snake07 posted...

Is there any evidence that if Americans were responsible enough to save up an emergency fund to cover months of expenses would lessen the need of a stimulus to cover their expenses?.....you might want to think that line of thought out a little more.

How many months should they save up for? Three months? Six months? A year? We don't know how long this pandemic will last nor do we know how long it will take for the economy to return to normal. It's foolish to scold people for not saving up funds when we don't know how long those funds are supposed to last.

Also, the point is that there will always be a set of Americans who don't have savings even if we radically change how Americans save. We also don't usually have the type of data to correctly determine which populations are suffering due to a specific economic crisis (although evidence also seems to suggest it routinely hits the lower class the worst in the long run), so instead of wasting time arguing over who and how much, the government provides everyone a stimulus.

Others have also addressed your shaky argument against inflation.