Personal Finance

Americans Need Another Stimulus Check

americans need another stimulus check

As the U.S. economy continues to sputter as the states reopen, there are still millions of Americans filing unemployment claims. When the extended unemployment benefits end on July 31st, more Americans expect to have more financial troubles because they will not have the money to pay their bills, including rent or their mortgage. Now there is a call for additional help from the Federal Government. So do Americans need another stimulus check? Yes.

Why Americans Need Another Stimulus Check

I uploaded a video on my YouTube channel a few days ago explaining why I’m for the Federal Government sending out more money to the people.

My position is this: About 93% of Americans paid their rent as of June. There are 4 million home owners who stopped paying their mortgage. The reason why the numbers aren’t higher is because people are using their unemployment benefits to pay their rent or mortgage.

However, when the extended unemployment benefits end, and when the local or state eviction and foreclosures moratoriums expire, America may see a huge spike in evictions and foreclosures. Hence, the sputtering economy can get worse because people don’t have a place to live or an address to use when applying for a job.

I don’t want to see people lose their homes. While some landlords and banks may be considerate and not force people out, others won’t. As of a result we’ll see more tent cities, people living in cars, and the homeless shelters full.

What Is My Solution?

The Federal Government gives out another round of stimulus money but instead of giving each person the money directly, the government pays it directly to the landlords and banks. That way renters and home owners don’t have to worry about making the back payments. And the government should pay the next month so it gives those people time to develop a plan. Either they can get their old job back or find a new one. Thus, they would use their paycheck for living expenses instead of worrying about paying back rent or mortgage payments.

Will this happen? I don’t know. The politicians don’t seem to be in a hurry to make a decision. And they continue to kick the can down the road.

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