It has been common knowledge that the federal stimulus check payments issued by the government during the COVID pandemic have now been exhausted.
It has also been made clear that the possibility of the fourth stimulus payment is quite unlikely. In fact, the only way for another payment to be passed would involve the country going into a state of recession. With the country shifting its focus following the pandemic that affected the entire world, most people have again started clamoring for a fourth stimulus payment.
The only thing that would force the federal government to issue another stimulus payment would be a recession. Now, whenever there has been any form of an economic downturn in the past, the only effective way to deal with it was through stimulus payments.
Can A Fourth Stimulus Check Payment Come In The Face of Recession?
There have been some notable examples of the federal government issuing stimulus check payments as additional economic impact payments. In 2001, President Bush issued stimulus payments worth $300 to taxpayers of the country. In 2008, the federal government had issued a sum of $600 to single filers, along with a sum of $1,200 to joint filers who came under certain levels of income.
There was also a child tax credit of $300 that was sent in 2008. Now, in the current climate, the possibility of a recession taking place is quite hard to predict. Some experts are of the opinion that with the issues in the supply chain, inflation, the Ukraine war, and the raising rates of the Federal Reserve, a recession could be in the works.
Although stimulus check payments have always proven to be of much help during a recession, going into one wouldn’t guarantee the prevalence of the payment itself. Also, the mad hope for a recession to obtain stimulus payments has its own box of issues as well. Most importantly, a recession usually comes with extremely high rates of unemployment in the country.