The coronavirus pandemic has been one of the most disastrous events for the economy ever, already wiping out over 22 million jobs. In response to these record levels of unemployment, the government has issued an unprecedented stimulus package: $2.2 trillion. But despite getting the biggest stimulus ever, Americans are still left questioning whether the government has done enough. It comes as no surprise that 84 percent of Americans want another wave of stimulus checks, according to a recent nationally representative WalletHub survey.
WalletHub’s survey aimed to determine how Americans feel about government aid during the coronavirus crisis, particularly the stimulus package. The survey asked a range of questions on topics including who should get stimulus money, how smoothly the stimulus rollout has gone and whether the actions the government has taken are good enough. Below are additional highlights from WalletHub’s survey, along with a complete description of our methodology.
Key Stats
- Many people are at risk of going broke: Nearly 160 million Americans are less than three months away from running out of money.
- Stimulus checks feed vices: Almost 24 million Americans will buy drugs, alcohol or tobacco with their stimulus money.
- Americans want unemployment insurance to match wages: Around 56 percent of Americans don't think people's unemployment income should be more than their previous income.
- People are generous during the pandemic: A third of Americans say they will donate part of their stimulus money to coronavirus relief.
- The young want checks based on financial impact: Millennials are 25 percent more likely than baby boomers to think that stimulus checks should only be given to people experiencing income loss.
- Americans think non-impacted businesses shouldn’t get aid: 70 percent of Americans believe that government help should only be given to businesses with a revenue loss.
Survey Methodology
This report reflects the results of a nationally representative online survey of over 350 respondents.
After we collected all responses, we normalized the data by age, gender and income so the sample would reflect U.S. demographics.
Full Details Overall
| Who needs coronavirus relief money the most? | |
|---|---|
| Small businesses | 50% |
| Consumers | 47% |
| Big businesses | 3% |
| Should anyone receive unemployment insurance greater than their income before the pandemic? | |
| No | 56% |
| Yes | 44% |
| What is the most effective way to help Americans financially right now? | |
| Send stimulus checks | 65% |
| Cancel mortgage/rent | 35% |
| Should there be another round of stimulus checks after this first wave? | |
| Yes | 84% |
| No | 16% |
| How would or will you use your stimulus check? | |
| Mortgage / Rent | 43% |
| Save it | 26% |
| Food | 26% |
| Non-essentials (entertainment, etc.) | 4% |
| Will you buy tobacco, alcohol and/or drugs with your stimulus check? | |
| No | 91% |
| Yes | 9% |
| Who should get a stimulus check? | |
| Everyone | 62% |
| Only people who got laid off or furloughed | 14% |
| Anyone with a pay cut of 50%+ | 13% |
| Anyone with a pay cut of 20%+ | 9% |
| Anyone with a pay cut of 10%+ | 2% |
| Which businesses should get government assistance? | |
| Businesses that have lost 50%+ of their revenue | 44% |
| All businesses | 30% |
| Businesses that have lost 20%+ of their revenue | 21% |
| Businesses that have lost 10%+ of their revenue | 5% |
| Do you plan to donate any of your coronavirus relief money to charity? | |
| No | 67% |
| Yes | 33% |
| How close are you to running out of money? | |
| 1-3 months | 35% |
| Less than 1 month | 29% |
| More than 6 months | 22% |
| 4-6 months | 14% |
Note: Percentages may not total 100% due to rounding.
