Americans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed says - eviltoast
  • skuzz@discuss.tchncs.de
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    6 months ago

    Why do I feel this is a false narrative for the rich so they stop perpetuating the lie that “nobody wants to work” from two stimulus checks that came 4 years ago? I probably spent more during the pandemic than usual at periods to adapt to it and buy hand soap and toilet paper among other things. It also triggered a pattern of more savings than ever that won’t be undone any time soon. Events like that tend to have a generational effect that can’t be explained away in a two bit headline.

    • MrMcGasion@lemmy.world
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      6 months ago

      Yes, if this is regarding the stimulus checks, then wouldn’t it all having been spent be good? Yeah, we spent it, we stimulated the economy during a time when the government decided it needed stimulation. Unless the conversation is about the economy needing more stimulation and that giving stimulus money to consumers works better than tax cuts for the wealthy, because the working class actually put the stimulus into circulation rather than hoarding it.