FR Data Insights’ New Nationwide Survey Exposes Stimulus Plan Will Fail

A new, nationwide study of United States adults by FR Data Insights casts doubts on the potential effectiveness of the new stimulus bills pushed by Congress and the new administration. Response data suggests that recipients are unlikely to increase consumer spending dramatically and instead intend to save, invest, or pay off existing bills rather than stimulate local economies (40%+ intend to save, invest or pay bills vs. 28% on groceries or consumables. Drew Travers, head writer with FR insights notes “the common wisdom that a blanket stimulus will revive the economy is wrong at best, and dangerous at worst. A targeted solution could be more effective and efficient”. This revelation should draw policy-makers attention as they work through details of the legislation, which may need a more targeted approach to be effective.
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Russ Jones, Editor in ChiefFinance Reference Data Insights
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Source: Finance Reference Data Insights