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Families face desperate time as they wait for more stimulus

More American families are hurting financially as they wait for additional stimulus checks from the government. Yahoo Finance’s Akiko Fujita shares the details.

Video Transcript

[MUSIC PLAYING]

- It's time for Word on the Street. We're going to check in with our panelists, find out what stories they are watching.

Now if you watch the markets, you might be forgiven for not thinking that lack of stimulus is problematic for the US economy. But Akiko, you have found some personal examples of folks who are really struggling because they are no longer getting stimulus.

AKIKO FUJITA: Yes. So I've been looking to some of the most vulnerable Americans and those who are affected by the lack of additional stimulus. So we're talking about Americans who have full-time jobs, low paying jobs, though. They had a little bit of savings before the pandemic, and the stimulus helped them carry over for several months. They're now facing the prospect of homelessness.

One woman I spoke to had traveled from Florida to Ohio because of a family emergency. Then a few days later, businesses shut down, travel shut down. She was essentially stranded there but used the stimulus checks to house her family, so her daughter and her two young grandkids, in a hotel. When those funds dried up, she had to go back to Florida and eventually ended up living on the street for more than a month.

Another woman I spoke to in Galveston, Texas was kicked out of her apartment, even with an eviction moratorium in place. She spent many weeks in her own car with her two young kids and then used the stimulus check similarly to fix her car, so she had a place to live, and then stay in a hotel for a few more weeks.

And I raise this issue because I think it's interesting to look at the impact this has all been having. There's a interesting number out, a report out from the National Bureau of Economic Research that points out that roughly 13 million people stayed out of poverty as a result of the stimulus' place, as well as the enhanced unemployment benefits. And there's certainly a lot of concerns with Congress dragging their feet on these bills that nonprofit groups are increasingly going to have to step in because of the lack of federal stimulus for the most vulnerable families.

- Thank you, Akiko. And by the way, you can read Akiko's full account on yahoofinance.com about those families--