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Topic	Golden state will give low-income people extra $600.
Balrog0 02/18/21 12:33:16 PM #28:	Broseph_Stalin posted... The US is blowing every other country out of the water when it comes to pandemic relief, yet the narrative online is the exact opposite. People seem to think the US is spending too little. It's crazy how effective the internet is for spreading misinformation. Well, yeah, but that's (partially)because we have less of a safety net in regular times. Which has made it harder to get effective stimulus to people who need it. https://time.com/5923840/us-pandemic-relief-bill-december/ But as a percent of GDP, the U.S. relief strategy still hasnt been as aggressive as that of some other countries, according to a team of economists at universities in New York, South Korea and Turkey, who are following 168 nations fiscal and monetary responses to the pandemic. Their analysis shows that U.S. fiscal relief spending prior to the latest package was about 14% of GDP. The new package is likely to bump that ratio up, to roughly 18% of GDP. But that still puts the country behind other economically advanced economies like Japan (42% of GDP), Slovenia (25%) and Germany (20%). While the above chart shows how much financial weight each country has thrown behind its relief measures, it cant show how effective that relief has been in stabilizing each economy. In the U.S., for example, the national poverty rate has risen faster than ever, due in part to lapses in economic relief after certain CARES Act provisions expired. Many European countries, meanwhile, had existing safety nets set up well before the pandemic that helped to cushion the blow for many affected residents. Just the size of the package is never enough, says Ceyhun Elgin, lecturer at Columbia University and professor of economics at Bogazici University in Turkey and one of the aforementioned researchers. The content is what matters. Theres large variation in terms of how countries responded in the labor market. In some countries, there is support for parents whose kids are not in school. Others have direct food support, or compensation for sick workers. --- Trying to dunk since July 2020 <cite>Balrog0 posted [p:950793319] in Golden sta... [t:79301818]...</cite> <quote>Broseph_Stalin posted... </cite> <quote>The US is blowing every other country out of the water when it comes to pandemic relief, yet the narrative online is the exact opposite. People seem to think the US is spending too little. It's crazy how effective the internet is for spreading misinformation.</quote> Well, yeah, but that's (partially)because we have less of a safety net in regular times. Which has made it harder to get effective stimulus to people who need it. https://time.com/5923840/us-pandemic-relief-bill-december/ But as a percent of GDP, the U.S. relief strategy still hasnt been as aggressive as that of some other countries, according to a team of economists at universities in New York, South Korea and Turkey, who are following 168 nations fiscal and monetary responses to the pandemic. Their analysis shows that U.S. fiscal relief spending prior to the latest package was about 14% of GDP. The new package is likely to bump that ratio up, to roughly 18% of GDP. But that still puts the country behind other economically advanced economies like Japan (42% of GDP), Slovenia (25%) and Germany (20%). While the above chart shows how much financial weight each country has thrown behind its relief measures, it cant show how effective that relief has been in stabilizing each economy. In the U.S., for example, the national poverty rate has risen faster than ever, due in part to lapses in economic relief after certain CARES Act provisions expired. Many European countries, meanwhile, had existing safety nets set up well before the pandemic that helped to cushion the blow for many affected residents. Just the size of the package is never enough, says Ceyhun Elgin, lecturer at Columbia University and professor of economics at Bogazici University in Turkey and one of the aforementioned researchers. The content is what matters. Theres large variation in terms of how countries responded in the labor market. In some countries, there is support for parents whose kids are not in school. Others have direct food support, or compensation for sick workers. --- Trying to dunk since July 2020</quote> ... Copied to Clipboard!
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