Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this.

In the 1960s, America's GDP (per capita) was $3,000.
Also, in 1960, the federal poverty limit was $3,000 for a family of four.

In 2023, the GDP (per capita) was $82,034.
The federal poverty limit for a family of four in 2023 was $30,000.

This can't be good for the American people. Unless I'm drawing comparisons between two completely unrelated things?

People who are barely in poverty today would have to earn ~2.7x the amount they earn to stay consistent with those who were barely in poverty in the 1960s if GDP and FPL were still equal to each other. So what about the families caught in the middle? Too high earnings to get help and too low to thrive? They just suffer, I guess.

Out of curiosity, I calculated what the thresholds would be if the percentages of GDP to FPL were swapped between 2023 and 1960.

1960s numbers adjusted if FPL matched 2023's percentage:
GDP=$3,000
FPL=$1,111

1960s numbers adjusted if GDP matched the percentage comparison of 2023:
GDP=$8,100
FPL=$3,000

Please let me know if it actually matters that the GDP per capita is 2.7x the federal poverty limit for a family of four. Also, let me know your thoughts.

This thread is a follow-up to the oil prices thread we had less than a month ago.

Australia has signed a stimulus package

So has the US (title) (link)

And Canada

And Brazil (in portuguese)

So how are we feeling about this? Will the packages do their jobs and bandage the economy together until we stop the virus, are we headed towards a new great recession/depression, is this the nail in the coffin for the US as a political power (China has the virus under control in their nation and they're selling/giving out tons of masks so if the US economy is nuked and the Chinese only feel the trade effects then they can further empower themselves)

I'm only 30, but I can't think of a time entire sectors of the economy were shutting down like this.

I'm looking at statements from countries that appear vastly more prepared and honest, like Germany, who say they expect 60-70% of the population to contract the virus. Am I wrong for seeing the general lack of appropriate reaction from the US and expecting worse?

I expect the US will eventually be in a similar situation like Italy is. Most people staying home and most businesses shut down. How do people pay bills? Mortgages? Rent? Healthcare? Find money for basic supplies? Car loans?

Has something like this happened before to a modern economy?

How are we feeling about all this? There is going to be anxiety over the next few days (weeks..months....years?) so let's talk about it.

10yr Treasury Bonds are at their lowest ever, futures market are down ~10%, and cryptocurrencies have lost billions.

How are you feeling?