For the last few months, a large section of the American population has been dealing with a higher-than-average cost of living with inflation driving the price of everything to inordinate levels.
This has led to many people already depleting their savings over the last year. And unfortunately, this has also led to families racking up scores of credit card debt in the course of feeding their families, while making sure that there will always be a roof over their heads. But since the rate of inflation has been going through the roof, there are individuals who are hoping for another stimulus check payment from the government.
The last stimulus payment from the government resulted in checks worth $1,400, but they were issued in the March of 2021. Since then, there has been no stimulus aid that one can revert to though there have been some states that have stepped up the gas and have issued multiple payments of their own.
Stimulus Check Payment- Needless Spending By The Government?
Nevertheless, there is a particular reason that most legislators aren’t approving any stimulus check payment on a federal level- the economic conditions currently in the country simply don’t justify it. Sure, the rate of inflation is increasing and a large portion of the population is struggling with it, but the stark reality is that the labor market in the country is still going strong. And since the levels of unemployment are quite low, it is quite uncertain if another stimulus payment would be issued.
Some economists are of the opinion that a stimulus check payment could actually make inflation worse. According to them, the main reason why we are in such a situation in the first place is simply that Americans were flush with cash in 2021 when the supply chains started shutting down- which led to a disconnect between demand and supply, driving the prices upward.