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Thursday, January 26, 2023

Stimulus Check, A Thing Of The Past

This upcoming Friday will be a complete one year since the President of America, Joe Biden signed the third and last stimulus check for the citizens of the U.S. The last stimulus check was a part of his Rescue plan which amounted to approximately $1.9 trillion and was given to the people during the pandemic. 

Are There Chances Of More Stimulus Checks?

The last two years have been marked by the health and financial crisis which was disrupting the economy. Thus, The Government of the U.S. helped the middle-class people with $1,400, child tax credit, and other assistance. 

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This aid brought tremendous positive impact and amid all the new variants of coronavirus like Omicron and Delta along with the war situation in Europe, people again need financial assistance to but basic amenities.  In the views of Gene Sperling, the advisor told the Associated Press that this option seems to be the wisest one as per the condition. 

However, some other analysts believe differently as the data from Labor Department states that the consumer price index has increased by 7.9%. According to Jason Furman, a professor at Harvard, stated that the idea of stimulus check was to help the people, instead, it is bringing inflation to the country. 

The prices of gas and food are rising and the majority of people are finding it hard to meet their expenses as per the WHO, the pandemic is still not over. The easiest solution for many experts is by proving the people with more stimulus checks for which numerous petitions have also been filed. The most famous petition was delivered by Stephanie Bonin, an owner of a restaurant.

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Furthermore, to remove some pressure off the shoulders of people from the excessive gas price hike daily, several economists are requesting for $1,100 stimulus check.

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