The Percentage of personal income from government programs is on the rise.
As outlined by Axios:
State of play: As much as 22% of Americans’ personal income last year came from government benefits, including Social Security, stimulus checks, enhanced unemployment insurance, and the child tax credits (CTCs) that ended in December.
The federal government sent out more than $93 billion to families in the second half of the year through CTCs.
Axios Markets
By Emily Peck and Matt Phillips ·Jan 28, 2022