Despite large amounts of government assistance during the pandemic, Canadians borrowed more than they saved in 2020, according to Statistics Canada, while an economic analyst says some of the government’s pandemic aid wasn’t well targeted and went to high-income households that didn’t need it. The richest quintile of households, or the top fifth, saved $186.61 billion in 2020, which represents a net savings rate of 33.1 percent, Statistics Canada found. This was much more than the $137.38 billion they saved in 2019, at a 25.7 percent savings rate. In 2020, this demographic represented 89.54 percent of all savings. In contrast, the lowest quintile of households, or the bottom fifth, accumulated $60.35 billion of debt in 2020, amounting to a net savings rate of -61.4 percent. This means they spent 61.4 percent more than they made in 2020. “It is telling that the savings rate for well-off people went up. That’s …