A chunk of the $1,000 to $5,000 cash payments people received to help them buy food and pay for rent during the early months of the coronavirus crisis actually went to pay down credit cards, according to a new audit.
While the payments funded by taxpayers came because of reports people were going hungry and homeless because of the work shutdowns forced by the pandemic, the Government Accountability Office said many consumers used the money to improve their credit scores instead.
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“We found that many people likely used their pandemic stimulus payments to pay down their credit card balances. Pandemic assistance was also as …
Public used COVID-19 cash to pay off credit cards
Posted in Economy