Many
households are so far in debt, more cash relief means getting bills paid.
Cash relief appears to be on the horizon for
Americans, during the COVID-19 crisis. But just how much of your government stimulus cash will have
to end up going to mounting bills and debts?
Many of the nation’s households have acquired a lot
of bills and expenses they need to catch up on paying.
Cash Relief Needed
The first cash relief payment came in the form of
what was called the CARES ACT. Well, how did that turn out?
If you’re anything like most Americans caught up in
the COVID-19 crisis, your stimulus cash
from the CARES ACT is probably long gone.
No doubt, that $1200 or $2400 came in handy with
rent due, utility bills, and other monthly expenses that require your
attention.
But if you happen to be out of work or your work
hours were cut because of the virus, that stimulus payment barely helped you
make it through one month, let alone the
last three months.
Clearly, much more cash relief is needed, before any
possibility of stimulating the economy is possible.
But stimulus is
one thing, and relief is another. As
long as the necessities need to be addressed, no one will be able to do any
extra, or non-essential spending.
Unfortunately, non-essential spending is exactly the
kind that’s needed to truly stimulate
the current economy. You don’t have to be
a financial wizard to recognize that.
Pending Cash Relief
But what if the current debate about giving more
cash relief actually prevails? Perhaps the
third time is a charm, and people will truly get some financial
relief.
It will be a bit of a victory, even if all they settle
on is the proposed monthly $2000 payments.
Think of what a mental relief it will be, besides a
financial one. You can breathe a little easier for the duration of this crisis.
With this type of relief cash on the horizon (potentially),
the average person may really stand a chance of getting back on track, or at least back on their feet.
So while the politicians take their time, deciding
the fate of the entire nation, people are waiting breathlessly for news about the much needed cash relief.
Hopefully, this round of relief cash will finally provide
enough, and not just for some, but for everyone.
Maybe, some people
can pay off their debts, as well as actually start helping to stimulate the
economy. Stimulus is also important, once relief has been achieved.
READ ALSO:
- Stimulating the Economy Will Take All Kinds of Spending
