clutterjam (clutterjam) wrote,
clutterjam
clutterjam

Stimulus Needs to Be Stimulating

https://www.chicagotribune.com/columns/steve-chapman/ct-column-stimulus-payments-biden-1400-chapman-20210127-wmplo2424ve7llvh6ecn7sgm6a-story.html?fbclid=IwAR0_f7VLCCVtbSKlMx2y2cjwafqHdWHv3pwRTFbqUtP_RrHg-gnSYL072qs

I've often described myself as a “moderate lefty.” Maybe some (or most?) progressive Democrats will disagree with me, but I think Chapman makes a lot of sense here. I believe it's true that in today's economic situation, Congress shouldn't skimp in spending to help struggling Americans. But $1400 each for everybody doesn't make sense. As I understand it, that's what President Biden (of whom I'm a BIG fan) wants to do.

I'm in agreement with Chapman that it should be limited to people who REALLY DO need it. Everybody would love free money, but many Americans would just use it to pay down debt or add to their savings. It needs to go to people who'll spend it. THAT'S how you stimulate the economy.

For God's sake, yes, let's inject lots of money into the economy where it'll do the most good. Now's not the time for austerity. But giving it to people who don't really need it is not going to help. Low and low-to-middle income people; struggling businesses; COVID relief. That's where the money should go. Not to people who'll just put it in the bank or pay off their credit cards with it.

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