Estimates by Harvard economics professor Raj Chetty and his colleagues suggest that consumer spending by low-income consumers is up more than 13 percent from January 2020 to January 2021, before any new stimulus. Researchers working with data from the JPMorgan Chase Institute find household cash balances have risen across the income distribution during the pandemic. At the proposed level of unemployment benefits, more than half of laid-off workers will see their incomes rise. Proposed expenditure levels for school support exceed $2,000 per student.

That is from Lawrence H. Summers, answering further questions about his stimulus stance.  Do read the whole thing.  Again people, you are being sold a bill of goods on this one…

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Stimulus sentences to ponder

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