Government cash boosted demand when economy was struggling to produce, experts say
before the end of March 2020, as the economy was shutting down and millions of Americans were losing their jobs.
Ultimately, it took more than six years for the United States to recover the jobs that had been lost in the recession. Democrats, who had pushed for a larger package, vowed to pass additional relief after Biden’s inauguration. These signs of fresh economic weakness cemented the political imperative to spend more on coronavirus relief.
Consumers flush with rescue plan cash encountered a market that was millions of cars short. Prices for used cars rose in April by 10 percent, the largest one-month gain since the government began keeping track in 1953, and then jumped by an additional 8 percent in May. Still, White House officials were sensitive to criticism that the stimulus payments were not targeted to those with the greatest need. Married couples with incomes up to $150,000 — or individuals making $75,000 — were generally eligible for the full $1,400 benefit.
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