Commentary
In the early spring of 2020, the United States began locking down citizens and businesses—such as restaurants, nightclubs, hairdressers, movies, and gyms—killing off entire sectors.
As economic activity ground to a near halt, the government applied band-aid solutions in the form of economic stimulus that would temporarily and partially mitigate the negative impact on the economy while doing long-term damage. The lockdowns and stimulus caused disruptions to the supply chain, including labor supply. This has been hampering U.S. recovery from two years of misguided policies and mandates.
Starting in March 2020, the government sent out three rounds of direct payments of up to $1,200 per adult and $500 per qualifying child for families under an income threshold. In total, this amounted to $869 billion.
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