By Bryce Covert NY Times March 12, 2024
It's a riddle that economists have struggled to decipher. The U.S. economy seems robust on paper, yet Americans are dissatisfied with it. But hardly anyone seems to have paid much attention to the whirlwind experience we just lived through: We built a real social safety net in the United States and then abruptly ripped it apart.
Take unemployment insurance. The CARES Act, passed in March 2020, included the largest increase in benefits and eligibility in American history. It offered people "a sense of relief," said Francisco Díez, senior policy strategist for economic justice with the Center for Popular Democracy, which organized unemployed people in the pandemic. "A feeling like they could breathe and figure out what they could do."
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