Stimulus Money, Round 2

" For the vast majority that $2000 will get spent quickly, hopefully helping some business to stay open just a bit longer while easing the worst consequences of poverty for many.. "

I read an article the other day (which I can't find now) saying that only 15% of the first payments were on new spending. The rest went to savings or to pay down debt.

" On the other hand, it seems obvious that we can’t continue to print money without seriously devaluing the currency."

There is no indication that there is a risk of devaluing the dollar. Japan has been running a debt of over 200% of GDP for over 20 years now. We are right around 100%, so there is a ways to go before we get to Weimar status...

"I am curious as to why, given 10 months to come up with a better plan, our government didn’t have more of a New Deal-ish program in place. The first round of panic largess was understandable. It didn’t matter at the time if some percentage of the money got wasted; the economy needEd fast cash straight to the vein."

LOL. One word: Trump.

"For this second round, is there anything that would stop the government from requiring some work for payment, with exemptions for those who can’t work?"

The problem with putting requirements like that on any program is that it increases the administrative cost. It is easy for the IRS to send out checks based on last years taxes. Not perfect, but good enough for government work...

Who is going to be doing the verifying? What kind of work will qualify? What if you are now working, does that count?

We don't really need the money, either. But I am not going to turn it down.

For all the money we throw around for stupid stuff, at least this is going to some real people.

I’m not as chuffed as some conservatives about the possibility of $2000 checks going to folks who need them as this consumer economy slowly accelerates away from the edge of a stall. For the vast majority that $2000 will get spent quickly, hopefully helping some business to stay open just a bit longer while easing the worst consequences of poverty for many.. On the other hand, it seems obvious that we can’t continue to print money without seriously devaluing the currency.

I am curious as to why, given 10 months to come up with a better plan, our government didn’t have more of a New Deal-ish program in place. The first round of panic largess was understandable. It didn’t matter at the time if some percentage of the money got wasted; the economy needEd fast cash straight to the vein.

For this second round, is there anything that would stop the government from requiring some work for payment, with exemptions for those who can’t work?

Very off topic, but the Mrs went in wanting high gloss mahogany or cherry and then fell in love with the hickory. The hickory has the advantage that it is natural (so scratches show less) and is LOT harder than either of the other two woods.

We also found 3/4" x 5" solid flooring. This floor will last a lifetime, and then some. It could be refinished multiple times if need be, unlike some engineered flooring that can only be refinished once.

“ solid hickory flooring ”

Bet that’ll look awesome!

We get nothing , always like money but don’t need it at this time . Nice that this will help people buy a home . We know how much that means to a person .

TOPIC: Stimulus_Money,_Round_2,,,,,Truth is you are barrowing the Stimulus Money from your unborn yet great grandchildren.

Just checked and noted we got $1200 on Dec 30th. Mrs has her eye on a new dishwasher. We also just bought about 260 sq ft of 3/4" solid hickory flooring to replace the last carpet in the house, but that was our Christmas gift to each other. It's more a gift for the Mrs since I'm doing the installaton ;-)

We don't get one (or two in our case). We do gave two friends that received a significantly less than they thought they would receive.

We don’t get a check. We don’t need it, but I do worry about the financial implications of distributing all this money without raising taxes on the wealthiest individuals. I feel like we tend to get crunched in the middle with the repercussions.

Ours was deposited on Friday and went directly into our savings for a home down payment. But with the prices of homes continuing to rise, I'm not getting my hopes up for home ownership in 2021....

I won't get a check either. But I am ok with that. Those who are in need should get the assistance.

""Who doesn’t get these checks?"
That would be me."

Us either.

Moi :-(

BT

"Who doesn’t get these checks?"

That would be me.

I think $2000 is coming eventually.

I really haven’t been following any of the detail. Who doesn’t get these checks?

"Does the government pretend to not give a fuck"

LOL

They don't have to pretend. They don't.

Most of Congress doesn't really know what it is like to be in your (or my) financial situation, let alone someone in worse shape.

It is all an abstract exercise to them.

So every dollar meant for a poor person will be offset by $100 in tax breaks to the rich.

Mostly true....

But, what the fuck happens to the jobless in 2021.

Does the government pretend to not give a fuck, and not give a nickle in attempt to not look like they care
if ppl get evicted or foreclosed?

Another $1k gives the appearance that they care that ppl are going hungry and homeless.
No more stimulus money in 2021 says they give zero fucks to those without money or jobs.

That's regardless who has partial or complete control of D.C.

I have less than $50k cash that I can touch. I'm far from broke, but not near "well off and comfy".

Drug dealing, human trafficking, scams and crime are going UP in 2021.
As the saying goes, "Baby needs new shoes".

We got ours on the 30th.

Went in the bank account. Paid for Christmas.

I'm sure the Democrats will try to get another check out to people.

How successful they will be depends on the Georgia elections...

I got an electronic payment over the weekend which went green Mon morning.

Have you gotten your second checks yet?

What do you plan on doing with it?

Think we'll see a 3rd or 4th check before 2021 finishes?

Think it will be anywhere remotely near the $2k number that was tossed around?