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Americans paychecks are getting smaller, but their spending is soaring.
Read full article: Americans paychecks are getting smaller, but their spending is soaring.Consumer spending bounced back sharply in America last month. It looks like consumer spending fits that pattern, too. That's important because some two-thirds of America's economic growth are driven by consumer spending. Under the CARES Act, the government expanded unemployment benefits, including adding $600 per week. Traditionally, lawmakers worried that too-generous unemployment benefits would keep people from wanting to go back to work.