8% was on non essential. The fun stuff, I guess. 3% donations. Americans are still generous for a total of 29% spent on consumption. The marginal propensity to consume was 29%. The remainder 71%. Half of it was put to savings spent on increasing savings. The other half was paying off debt. They also studied how the unemployment plus up was spent. Pretty similar results. 24% of those dollars went for essential consumer goods. 4% non essential. 1% donations. (10:36–10:46)
CLAIM
Asserts 71% of stimulus checks were saved or used to pay off debt.
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