Stimulus Checks have been one of the best things that happened to the Americans. The administration of Joe Biden issued the checks when America was plunged into darkness. Financial assistance acted like a boon for many households.
The impact of the pandemic has left America devastated. The economy has threatened to go down the drain. People have lost their jobs and are worried about the mounting debts. The present scenario is also not very much encouraging for the residents.
After the shutdown was inflicted, most of the citizens lost their jobs. This happened because the greater portion of Americans had jobs that required them to function in the field. As factories and offices were closed, the people were sacked.
Although some people were working from home, the remuneration they got did not satisfy them. A new variant of the coronavirus has been a reason of concern. The variant has been termed as “Omicron“. The impact of the deadly variant is expected to be significant.
Jerome Powell is the chairman of the Federal Reserve. He has expressed his concerns about the economy. Powell is fearful of a negative impact on the economy by the virus. Such scenarios have triggered the demands of a fourth stimulus check. Let us learn more in detail below.
Stimulus Check: Unemployment Plagues Common People’s Lives
Stimulus Check push has remained constant for the last year. A large number of people have lost their jobs. Unemployment is one of the biggest concerns in the United States presently. The rate of unemployed people stands at 4.2%. This is way above the pre-pandemic tally of 3.5%.
Stimulus Check for Child Tax Credit has also ended. There will be no more credits as the Build Back Better is yet not sanctioned. It remains to be seen whether the federal government comes up with more checks or not.