Even though the second stimulus check proposal was voted down a while ago, there are talks again surrounding the need for another one. Personally, I never really thought it was a great idea, as I share the view that we should really be spending money our social programs which are badly imbalanced at the moment.
This also reminds me though of our first stimulus check and I want to ask you this:
Judging from the people that I spoke with about the check during the past few months, many people actually used the money to buy something which was exactly what the government wanted us to do. However, I suspect that the poll results above will be a little different since we are a bit more financially savvy. If anything, at least we won’t believe that it was “free” money from the government as we will be paying it back in later years somehow.
What Do You Think of This?
Another reason why I wrote this post was because of a couple thoughts that suddenly dawned on me about this subject. Let me know what you think.
- If we saved all of the money that the stimulus check gave us and pay it back to the government through tax hikes, aren’t we ahead because we get free interests? I figured that it will be even more beneficial for those that paid down their credit card debt since the interests are much higher there.
- Whether the government approves stimulus checks or not, it probably doesn’t have much affect of plans for the social programs. Even if many of us want the government to fix our social securities imbalance, the government’s decision is probably not going to be based on whether we are $0, $150 or $300 billion more in debt because of the stimulus checks. Sure they will use deficit and what not for excuses, but I doubt that’s the real reason why no one has ever tackled the problems of the social programs.
Although those thoughts popped up in my head, I still vote for no stimulus checks but what do you think?