If you’ve paid much attention to politics at all in the last few months, you will know that creating another stimulus bill to help out needing Americans during the coronavirus pandemic has been high on both party’s lists of things to get done.
But what if we really don’t need one?
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When the pandemic first made its debut in America, things got pretty bad for millions of Americans. Out of fear and all the unknowns that come with COVID, entire states were forced to shut down, limiting travel in and out, closing businesses left and right, and requiring all sorts of new rules and guidelines to be met.
As a result, both individuals and companies all over suffered, many going without a paycheck for months on end.
Clearly, this created a need and one that President Trump met by creating the first stimulus bill.
However, it wasn’t a home run, so to speak. Yes, the funds received, I’m sure, were appreciated. But they didn’t seem to go where they were the most needed. Some families who would have put it to good use didn’t get any money at all, while individuals without want received what seemed like more than their share.
And so, Congress deliberated about putting a second one out and now a third, each adding things along the way to supposedly make better use of the funds.
But as time has gone on, and the threats of COVID have lessened, even more so in recent weeks as several vaccines have been made available, our economy overall doesn’t seem to have suffered nearly as much as we thought, nor is it expected to get any worse.
According to a new report put out by the Commerce Department on Thursday, the gross domestic product or GDP actually grew significantly during the fourth quarter and by more than what was expected.
As Fox News reports, the annual growth rate turned out to be 4.1 percent, and it’s only expected to go up from there.
“Some expect GDP growth in the current quarter could top 9% and for the year, economists are forecasting GDP growth perhaps as high as 6%. That would be the fastest annual growth since the economy expanded 7.2% in 1984 when Ronald Reagan was president.”
It is noted that even during our nation’s darkest hour this past year, GDP only declined by 3.5%.
In addition, sales of long-term or durable items like homes, cars, and appliances are on the rise as well, coming in at a growth rate of 3.4% for January, according to MarketWatch.
The same report also notes, “Orders for manufacturers have now returned to pre-crisis levels, reflecting in large part a major shift among consumers toward the purchase of” those types of goods.
So why does America need a stimulus bill costing $1.9 trillion?
Most of that, a whopping $442 billion, would go towards giving every American, and some who aren’t another $1,400, whether they need it or not.
Another $109 billion will expand the child tax credit from $2000 to $3000 for another year – something else that most families likely don’t need.
Also in the plans are to give $81.5 billion towards underfunded pensions. But this doesn’t seem to add up. If the economy is no longer struggling and growing stronger actually, why would pensions be being cut?
It seems, if they are, it would due to aggressive shutdown measures or mismanagement of funds. And the taxpayers shouldn’t be held accountable for that.
Neither should they have to pay out another $129 billion in funds to reopen schools.
Yes, reopening schools are a priority and a must, and if they need funding to do so, it should be given. But did you know the first stimulus bill gave schools $68 billion for the same purpose, and only $4 billion of that has even been used?
If the government is to put out another bill, the only money that should be really included is that meant for those who are still unemployed and struggling due to the pandemic. But this would only cost the government and taxpayers about $246 billion if all unemployed are to receive the agreed-upon $400 a week.
There is obviously still a need for that.
But why do we need all the other stuff? It seems it would be a better option not to go into debt further if we can help it, right?