Meanwhile, federal revenue increased by the most 44 years in the fiscal year that ended on October 1st according to the CBO.
Finally, about 20 percent of Americans lost all of their savings and - not surprisingly -- the number was higher for people making less money to start with.
For many Americans, Covid lockdowns—with nowhere to go and nothing to do—were a time to save. But for almost 20% of U.S. households, the pandemic wiped out their entire financial cushion, a poll released Tuesday finds.
The share of respondents who said they lost all their savings jumped to 30% for those making less than $50,000 a year, the poll from NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health finds. Black and Latino households were also harder hit. The researchers surveyed a nationally representative sample of 3,616 U.S. adults ages 18 or older.
This was a slow week. I'll try to do better next week. Have a good weekend.