4 ms·
The problem is that one stimulus check cost $2 trillion dollars. Doing that every single month for an indefinite period of time is, quite expensive to put it m
by xienze 6y ago
The problem is that one stimulus check cost $2 trillion dollars. Doing that every single month for an indefinite period of time is, quite expensive to put it mildly. And that’s not even taking into consideration that there’s a lot of people with monthly expenses in excess of $1200 per month.
- altdatathrow 6y agoI know these are large numbers, but the 159 million economic impact payments cost $267 billion [1]. This article [2] gives a pretty good overview of the $4T spent in total so far [1] https://www.irs.gov/newsroom/159-million-economic-impact-payments-processed-low-income-people-and-others-who-arent-required-to-file-tax-returns-can-quickly-register-for-payment-with-irs-non-filers-tool https://www.irs.gov/newsroom/159-million-economic-impact-pay... [2] https://www.washingtonpost.com/graphics/2020/business/coronavirus-bailout-spending/ https://www.washingtonpost.com/graphics/2020/business/corona...
- xienze 6y ago> I know these are large numbers, but the 159 million economic impact payments cost $267 billion [1]. Great, but the bill cost $2T. Same with the recent one that’s been put on ice. Because there’s no such thing as a bill that only contains direct cash payments to citizens, they’re loaded up with pork and stuff that doesn’t even having anything to do with the pandemic.
- disgruntledphd2 6y agoRead the WP article linked above, it's actually insane how much pork was in that stimulus.