The False Economy Of Washington’s Coast-To-Coast Soup Lines, Part 3

There as never been anything like Uncle Sam’s stunning generosity during the past eight months. The aforementioned government transfer payments at a $3.1 trillion annual rate in February had steadily climbed from the $2.1 trillion level recorded at the end of the Great Recession (June 2009).

That climb was not exactly stingy, even as the Fed, Washington pols and Wall Street celebrated the purported longest economic recovery in history at 128 months before it ended in February 2020. Still, under the Donald’s Greatest Ever economy, transfer payments should have been on the decline.