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Wednesday, September 28, 2022

Stimulus Check: Healing Economy Cancels Out Further Payments

Stimulus Check petitions have become viral over time. As the days pass by, the demands for recurring payments increase. Petitions and letters have been hurled at the government. Despite reluctance from the government, the petitions did not lose their momentum.

The people continue to support them. Keeping in mind the current covid situation in the country, a new check is indeed needed. There have been two major petitions that have gained particular momentum.

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The petition introduced by Rep. Ilhan Omar has been backed by several lawmakers. Another online petition has gained vast support from the people. Rep.Ilhan Omar has extended support for the common people.

The petition designed by Omar asks for monthly payments from the government. The bill claims for a payment of $1200 for every adult. This payment is expected to be continued till the end of the pandemic.

Children are entitled to receive $600 as aid. This bill has been signed by several legislators. Pramila Jayapal, Jamaal Bowman, Dwight Evans & Cori Bus have supported the cause. However, all these seem to have gone down the drain.

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There are sufficient reasons for the federal government to decide against a new stimulus check as well. Let us learn more about the factors in detail below. 

Stimulus Check Unlikely As Economy Bounce Back 

Stimulus Checks would perhaps serve no purpose at the moment. As amusing as it might sound, that is the truth. Things have normalized a lot since the last year.

The economy is showing signs of healing. Covid norms have been eased and masks have been made optional.

The rate of unemployment also has come down significantly. This is contrasting to last year as America reached a record number of unemployed people. 

The purchasing capacity of the residents has once again been restored. This has resulted in a huge level of inflation in the American market.

The rate of unemployment is currently the lowest since its peak in the pandemic era. Thus, the necessity of another round of government-aided funds is very much far-fetched. 

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