Not even a peep about how government transfer payments increased household wealth – by taking on huge government deficits: US household wealth surged at record pace during pandemic, Fed says (usatoday.com)
“During the pandemic, many households received financial windfalls from the government in an effort to tide families over amid widespread business shutdowns and 22 million layoffs. That included three rounds of stimulus checks, enhanced unemployment benefits and a pause in student loan repayments.”
So nice of “the government”. Where do they get their money from to be so generous?
Americans have borrowed from their future, and will pay for it via inflation (devaluing the currency) or higher taxes. No mention of this. It’s as if these transfer payments were financed by magical money growing on trees!
The reporter has a BA in English and an MA in journalism – but missed this?
