The hits just don’t stop coming. The Commerce Department today revealed that government transfer payments in March reached a staggering total of $8.1 trillion at an annualized rate, which figure compares to the $3.2 trillion pre-Covid benchmark level which prevailed in February 2020.
Accordingly, during the month in which Sleepy Joe’s great big $1400 stimmy checks came roaring into 160 million bank accounts across the land, government transfer payments accounted for fully 34% of household income.
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