Stimulus Check Causing Economic Crisis And Inflation In The Market?

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Stimulus Check

Americans have been struggling with rising costs for months now, and the latest increase is in the price of eggs. The avian influenza epidemic has caused the death of close to 58 million poultry, leading to a dramatic increase in the cost of eggs. As of December 2022, the average cost of a dozen large Grade A eggs has more than doubled compared to one year prior. While it is unlikely that rising egg prices alone will prompt the federal government to offer more financial relief, some states have already taken steps to provide inflation-relief payments, with some locations specifically waiving taxes on everyday essentials.

Does Stimulus Check Bring Worries For The Household? 

The deep and widespread economic and social damage caused by the global financial crisis has been followed by a decade of slow economic growth, causing financial stress for many households. The coronavirus pandemic has only added to this financial burden, as people have had to take up new expenses to cover medical bills and other costs. With the cost of eggs increasing so dramatically, more stimulus money may be necessary to help Americans afford the essentials.

In order to help people cope with the extra costs, lawmakers have proposed a number of bills that focus on providing financial relief. For Instance, the Rescue Plan Act of 2021 launched by the federal government offered some inflationary relief stimulus check payments to some tax paying individuals and households, as well as the extension of tax credits and in a market with scarce job opportunities and people losing their jobs every other day. Along with that the government also put in place a lot of programs that were meant to help the people to pay their rent, utility bills, and more.

However, with the cost of essentials continuously rising, and thus the common man of the country needed more financial assistance that stimulus checks. If prices of daily essentials remain high for a lengthy period of time, it may be justifiable to provide further stimulus funds. This might assist people in affording food and other necessities, enabling them to preserve financial stability.