(Bloomberg) Justin Trudeau was more committed to borrowing his way out of the Covid-19 crisis last year than almost any other leader in the developed world. That cushioned the blow of the pandemic, but raises some hard questions about what Canada got for all that spending.The economy shrank 5.4% last year, Statistics Canada said Tuesday, the sharpest annual decline in the post-World War II era and the third straight year in which it underperformed the U.S. economy. That’s despite Canadians receiving C$20 ($16.55) in government transfers for every dollar of income lost, according to government data.Treated to larger handouts, Canadians mostly hoarded them, potentially opening Trudeau’s government to criticism it has wasted money on programs that spread cash quickly but inefficiently. As one opposition lawmaker likes to put it: “The government spent the most to achieve the least.”The rise in savings is a phenomenon in other countries, too, including the U.S.
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U.S. to start distributing coronavirus vaccines directly to pharmacies Erin Cunningham, Paul Schemm, Lateshia Beachum, Hannah Knowles
What the Biden administration has said about vaccination goals
Replay Video UP NEXT The Biden administration said Tuesday it will start distributing limited supplies of vaccines directly to retail pharmacies beginning Feb. 11, in effort to make it faster and easier for people to get inoculated. These doses are separate from those allocated to states. Jeff Zients, Biden’s coronavirus coordinator, cautioned that supply constraints will limit the early availability of shots in drugstores. He said the administration wanted to target supplies to pharmacies serving “socially vulnerable communities.”