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Tuesday, September 27, 2022

No More Stimulus Checks For US Citizens

What is a stimulus check? The government pays stimulus checks to people under financial crisis, so they don’t go bankrupt or lose their sanity. US government issued stimulus checks during the pandemic in 2020 and 2021. They gave the payment in the time of emergency, as the world is also hoping never to face such a worldwide disease. It immensely helped some Americans throughout the financial crisis they were facing.

Particular Reasons To Stop Stimulus Checks For The Citizens

However, the country seems to have adjusted well to the situation and recovered from the damage as the government personnel sensed; therefore, there would be no stimulus checks in the coming future.

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When the pandemic hit in 2020, congress’s prompt action was to approve the CARES act I in March. But these acts affected the fragile economy. But currently, no further checks will be issued, and checks were given to those struggling to keep up with daily expenses, $1200 to adults and $500b to young ones under 17 years old. And to those families whose incomes were less than $75,000 a  year.

The unemployment rate hit the country in 2020 at 14.7%, according to the Bureau of Labor Statistics, which was the highest monthly increase since 1948. A recent report by august 2022 says the unemployment rate is 3.7%. The employment status has increased so that people won’t need such an amount from the government.

Stimulus checks have caused inflation in the country. The statements were supposed to help the local government of the states, but instead, 21 states funded themselves with excess cash flow. The government is taking it as a threat to the country now. The primary issue it caused is a labor shortage in the country; as things have started getting normal, few have not returned to work regarding many matters, e.g.not having enough gas money or no one to take care of the child. Experts believed that a particular class got the cash without work, and they are settling with that, which is causing the issue in the country.

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