A Lot Of Stimulus Money Is Being Spent On Sneakers And Clothes

With another round of stimulus checks reaching Americans, more people should be able to stock their pantries and catch up on their outstanding bills. That's what people are spending this money on, right? Wrong.

Yahoo! Finance reports that Americans have been using their stimulus money to buy more sneakers and clothing. According to new data from Bank of America Global Research, spending on athletic footwear and apparel is up nearly 20% as compared to March of 2020.

Pandemic spending increased even more in other leisure categories, such as golf, cycling, and camping. That kind of spending is certainly helpful to the U.S. economy. Did the government expect to be funding our weekends and wardrobes?