How Americans Are Spending Their Stimulus Money

The US savings rate jumped from 13.4% of disposable income in December to 20.5% in January. This means only 20 cents/dollar the government provided in the $600 stimulus checks was spent. Whoops! So much for growing the economy. This suggests most of the next round of stimulus money will probably also be saved, making one question the wisdom of sending out another $1,400/person.