Will Joe Biden Give Us Another Stimulus Check?
The discussion around another potential stimulus check from the Biden administration has been a topic of heated debate. While some are eager for the financial relief, others worry about the consequences, particularly the further accumulation of national debt. According to recent data, the 'Obama/Biden Regimes' have added over 14 trillion dollars to the national debt, pushing individual 'shares' to over 230,000 dollars per person, which, when divided by the current number of taxpayers, amounts to an astounding interest burden of nearly 3,000 dollars per taxpayer each year. Historically, this level of borrowing has significant implications for economic stability and fiscal responsibility.
Understanding the National Debt Burden
During the early 1960s, one dollar had the same purchasing power as one ounce of silver today. Sadly, due to devaluation without inflation, today's dollar is worth only a fraction of its former value. To illustrate, a 1966 dollar would have the purchasing power of about 875.67 today, highlighting the stark contrast in value over time. This devaluation, or 'depreciation' as it is sometimes referred, significantly impacts the national debt, making it even more pressing to manage and reduce.
Who Qualifies for Stimulus Checks?
When considering the allocation of stimulus checks, it is crucial to have clear guidelines. Stimulus checks should not be indiscriminately distributed to everyone. Instead, they should target those most in need, such as the homeless, disabled, and truly impoverished citizens. For example, a retired CEO earning over 50,000 dollars annually does not need financial relief. Similarly, a disabled individual with an income of the same level should also be excluded. These measures ensure that resources are used effectively and equitably.
The Historical Context of Stimulus Checks
The first stimulus check during the COVID-19 pandemic era was administered under the Trump administration, rather than Biden. This raises questions about the origin of any subsequent checks. A fourth check under Biden would, by some logic, be considered a fifth check. However, the clarity of this distinction is murkier than it seems, and the term 'fourth' check might be misleading.
The Legislative Roadblock
Proposals for additional relief checks, such as those for fuel, face significant obstacles. Even if republican lawmakers support the concept, they often label it as socialism and vehemently oppose it, citing ideological differences. Despite the potential benefits, such as incentivizing anti-pollution measures, political barriers can hamper the implementation of such policies.
Public Sentiment and Concerns
Many individuals feel strongly against another round of stimulus checks, attributing the ongoing national debt to years of unrestricted spending. Some are even more critical, viewing it as destructive to the nation's fabric and its social structure. The sentiment reflects a deep concern about the long-term economic and social implications of continuous fiscal stimulus.
Conclusion
The debate around another stimulus check is complex and multifaceted. While the intent may be to provide much-needed relief, the broader implications—particularly concerning the national debt and economic stability—require careful consideration. Advocates and policymakers must balance immediate needs with long-term fiscal responsibility to ensure that the United States remains economically stable and prosperous.
The question of whether Joe Biden will propose another stimulus check remains unclear. The discussion touches on issues of national debt, economic relief, and the role of government in managing the financial wellbeing of its citizens. It is important for the public, policymakers, and the administration to engage in open and thoughtful dialogue to find the best path forward for the country.