This is How Americans Spend Their Stimmy Checks
Channel: The Nomad Economist
Date: 01/05/2021

This is How Americans Spend Their Stimmy Checks

More than $379 billion has been sent out across the country in the form of stimulus checks over the last two months. CNBC reported on Thursday:

A sixth batch of $1,400 stimulus checks has gone out, bringing the total number of payments sent to date to about 161 million.

One report, by the Peter G. Peterson Foundation noted that if we combine the last three stimulus bills:

The federal government has provided over $850 billion of direct payments to taxpayers.

It raises an interesting question: What did everyone do with their stimulus money?

NBC attempted to answer this question. Yet, in doing so illustrated the problem with the question and policy itself, finding:

the majority of that money continues to be spent on groceries, rent and other monthly bills…

Vague. So here are more details:

nonessential spending (13 percent), paying down debt (32 percent) and investing (11 percent) since January, the number one reason for stimulus spending among all income brackets is monthly bills (45 percent).

It’s curious to see what spending is considered essential and which is not. Still, the bigger issue is the idea spending can be adequately tracked in order to illustrate where the stimulus checks have gone.


For the full transcript go to https://financearmageddon.blogspot.com
👉 Donate to help The Channel:  https://tinyurl.com/vqbgwld
👉 Amazon Affiliate Links : https://tinyurl.com/sqwekhd
 Support the channel by clicking here before you start shopping on Amazon: https://tinyurl.com/sqwekhd (heck, even bookmark it for future use if you're feeling extra generous). 
Thank you to all my loyal fans i love each and everyone one of you Please **like and subscribe**  
👉 Follow us on Facebook : https://www.facebook.com/theatlantisr...

and on twitter : https://twitter.com/atlantis_report
This presentation contains images that were used under a Creative Commons License. Click here to see the full list of images and attributions:

https://link.attribute.to/cc/1598884