What Did People Do With Their Stimulus Checks? Many Saved Them and Economists Hope That Will Drive Spending Soon
How have people finances held up during the pandemic? In many cases, not well, but many households have been saving and economists hope that these savings and pent-up demand will push economic growth this year when businesses open back up. 36% of people have saved their stimulus checks, 35% paid down debt, and 29% spent it right away. Harriet Torry, economics reporter at the WSJ, joins us for more.
Next, on his first day in office, President Joe Biden submitted an immigration bill signaling it was a top priority to him. Hoping to avoid missteps from the Obama administration, he put his full wish list in the bill and is willing to break it down piece by piece if necessary to get things passed. Anita Kumar, WH correspondent and associate editor at Politico, joins us for Biden’s immigration plan.
Finally, Houston-based company, Axiom Space, is planning to send private citizens to the International Space Station next year and on Tuesday, revealed who will be making the historic trip. A former astronaut will serve as commander of the mission and three wealthy men who each paid $55 million for their ticket. They will fly on the SpaceX Dragon and have an 8-day stay at the space station. Christian Davenport, reporter at the Washington Post, joins us for these citizen astronauts are in for.
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