When the lawmakers made the decision to give citizens of America economic stimulus payments, some were just planning to stimulate the economy broadly. The provisions are typically for taxpayers. But this time around, the American Rescue Plan includes provisions for families that are plainly unheard of. And even the provisions for regular taxpayers are on a whole other level.
My theory: they’re betting on betting on better.
Here’s what I mean…
The hope is that Americans use the extra cash to make their situation a better one. Instead of blowing it all on companies like Amazon and Apple, chances are most people will use the stimulus funds on more vital expenditures such as rent, car repair, home repair, and of course, child care and any problem that falls under that umbrella.
This theory isn’t the prevailing republican assumption that the money will be a “disincentive to work”. You’ll remember this term used during the Trump administration to cut down the stimulus payments in rounds 1 and especially 2.
But this is a new president, a new treasury secretary, and a whole new ball game. The country is starting to get vaccinated, restaurants are opening up across the country, and masks are still being worn with social distancing observed to the best of our abilities.
Some places have relaxed these restrictions far too soon and are seeing their own difficulty in doing so. Their risky behavior is catching on which is very dangerous and could bring a new spike in cases if people aren’t careful.
This is a risky time for us all. Every time we leave our nest (or cocoon) of social distance, we are risking exposure to COVID-19 and it’s variants.
We are not out of the woods. The forest is thick and the sky is still dark, so I would not leave the path just yet.
Hang in there, everyone.
All forecasts say we may be back to normal sometime in July. Even President Biden believes we’ll have a normal 4th of July.
I sure hope so.