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Saturday, October 16, 2021

Stimulus Check Fourth Round: An Overall Summary

Stimulus Check has helped the Americans a lot. The government has sent out three sets of Stimulus payments till now. The recent payments have been rolled out by IRS in July. However, despite the fundings, citizens are heavily claiming another Stimulus Check. Whether there will be further funding from the government or not is a question that can be solved with time. 

Stimulus Check Did Not Provide The Necessary Relief?

The government of Joe Biden announced funds for the citizens. These funds were to be used as backups during the times of pandemics. People were provided with financial stability and much-needed respite. 

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However, not all people seem to have been benefited from the policy. Many citizens reaped rich dividends from the checks. They used it to pay off their debts. Others added the sum to their savings. Many others struggled to even afford the necessities. The ability to work from home played a vital part.  People who are required to do on-field work could not work during the lockdown. Whereas, others enjoyed the luxury of working from home. 

The US economy recorded a growth of 6.4% for the first quarter. It is expected to shoot up to 9% in the second. The rates of savings also skyrocketed. It was recorded at a staggering 33.7%. The stock market has been performing well recently as well. Unemployment rates have also gone down significantly. The government has decided to discontinue the bonus for the unemployed. Moratoriums are also set to end soon. The US economy seems to be rising again. 

Stimulus Check has been demanded the fourth time by the citizens. They stated that statistics do not do justice to the actual scenario. The rate of unemployment may have decreased. But the people were underemployed. They are struggling to make a living. However, the president did not seem too keen on the idea of another Stimulus Check.

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