Pandemic Aid Helped Low-Income Households Weather 2020 Lockdowns, But Fuels Inflation and Debt
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Low-income households bore the brunt of economic effects of COVID lockdowns, with incomes dropping nearly 10% in 2020.
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Wealthier households actually saw incomes rise due to stock market gains prompted by Federal Reserve money printing.
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Recovery rebates and enhanced unemployment provided over 3 times more money to low-income households than they lost to lockdowns.
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Excessive government pandemic spending unleashed high inflation, taking the biggest toll on low-income families.
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Indiscriminate pandemic spending was wasteful and worsened federal debt without effectively targeting needs.