This is how fast Americans are spending their stimulus checks — and here’s a breakdown of what they’re buying
When Americans received stimulus checks during the Great Recession, studies indicated many spent at least of portion of their money on cars.
During the 2008 stimulus program, up to 90% of the rise in durable good spending had to do with auto spending, according to previous research by the American Economic Association. (At that time, the government paid an individual between $300 and $600 and couples received between $600 and $1,200. The government paid $300 per child as well.)
When Americans received their $1,200 stimulus check, as many have used...