Paul Krugman

@paulkrugman ↗

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Last Checked Aug. 8, 2020

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Tue Jul 21 19:08:07 +0000 2020

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Paul Krugman @paulkrugman

And the unemployed, especially this time around, have little in the way of savings. They'll be forced to slash spending, delivering a huge dose of austerity to the economy as a whole. Sending checks to people who still have jobs won't have anything like the same impact 3/ — PolitiTweet.org

Posted July 21, 2020

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Paul Krugman @paulkrugman

The scale of this unforced error is stunning. In May Pandemic Unemployment Compensation — the extra $600/week, which is what is disappearing — was more than 4% of GDP. Snatching that away will impose huge hardship 2/ — PolitiTweet.org

Posted July 21, 2020

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Paul Krugman @paulkrugman

For the nerds: the marginal propensity to consume out of income is much higher for UI beneficiaries than for the rest, hence a much bigger multiplier 4/ — PolitiTweet.org

Posted July 21, 2020