How did you spend your stimulus checks?
Spend , Save , Pay Debt Peter G. Peterson Foundation per The U.S. Census Bureau dataThe first, second and third stimulus checks reached an estimated 85% of households. Stimulus payments targeted lower income and middle income households, with a gradual decline for households earning more than $75,000 annually. The amount of an individual’s income impacted how they spent their stimulus payment.
That said, Economic Impact Payments “may have contributed to a rise in” personal income, consumer spending, personal savings and economic growth. The Congressional Budget Office estimates that the stimulus checks under the Cares Act increased economic output in the U.S. by 0.6%. In comparison, enhanced unemploymentt benefits boosted the economy by 1.1%, while the Payment Protection Program led to an increase of 0.8%.Will there be a 4th stimulus check? Most likely, no. There are.
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