Second stimulus check: 156 economists push for recurring direct payments

[SheltieLover]

https://www.localmemphis.com/mobile/article/news/health/coronavirus/economists-call-for-ongoing-stimulus-checks-second-round/507-a7d7feeb-1b5b-48a9-ba11-77eedabb3417

Author: TEGNA
Published: 11:38 AM CDT July 16, 2020
Updated: 11:38 AM CDT July 16, 2020

An open letter from 156 economists from dozens of universities is calling on policymakers to make the next round of stimulus payments recurring until the economy recovers amid the coronavirus pandemic.

"The widespread uncertainty created by the COVID-19 pandemic and recession calls for a multifaceted response that includes automatic, ongoing programs and policies including more direct cash payments to families," the letter, published by the Economic Security Project and the Justice Collaborative advocacy groups, said.

In addition to ongoing stimulus checks, the group of economists are also calling for additional unemployment benefits, state and local government aid, enhanced SNAP benefits and more child care funding.

Some of the notable economists who signed onto the letter include Claudia Sahm, a former Federal Reserve economist, and Jason Furman, a former senior economic adviser to President Barack Obama.

More at link.

[customerserviceguy]

1. Not gonna happen

In fact, I have doubts that there will be any sort of agreement reached by both sides of Congress to get another stimulus package produced. Both sides seem to be extremely dug in as to what they want, I don't see enough willing to make the compromises to get a bill passed.

[SheltieLover]

2. I concur!

Too many repukes...

[customerserviceguy]

3. I've told friends

if they're looking for a buying opportunity to get into the stock market (something I just won't do at this point in my life) that opportunity will come the day after it is clear that no more stimulus money will be coming out before the election.

[SheltieLover]

4. Great point!

👍

[womanofthehills]

8. It has to happen

I think it will.

[customerserviceguy]

9. Nothing

"has" to happen, it only happens if a political consensus can be reached. At the beginning of this crisis in say, March or so, we could achieve that consensus, since then, both sides have figured out how to dig their heels in to justify their positions.

Remember how Barack Obama inherited a really lousy economy from Shrub? That's what I fear for Joe Biden. Most of the damage will manifest itself in 2021, and Joe will be hard pressed to get us out of the deep rut that Trump has sunk us into.

[stopbush]

11. I hope the Ds are dug in. That $600-a-week UI benefit as extended in the Heroes Act

should be nonnegotiable.

[customerserviceguy]

12. And unless

they are willing to compromise it down to either an extra $300 a week, or at least no more than the unemployed worker was making before the layoff, it's not going to happen at all. Even that will require giving up other goals, such as making retroactive payments to undocumented workers.

Either there's compromise, or there's no legislation. That's how it works with divided government.

[Mr.Bill]

16. Trump will not sign anything that gives

any money to undocumented workers.

[Calculating]

19. This

$300-400 is reasonable and will enable the extension to actually pass. Going for $600 will just make opponents dig in their heels and nothing will get done.

[forgotmylogin]

21. You have to bid high to haggle to where you want.

Anything to help would just be fine. I'd even be fine if they made it $1000 a month so they're not needing to accomplish direct deposits every week. That'd be a good chunk towards rent for everyone not in expensive cities and keep everyone housed so they have a location to quarantine.

I loathe Lindsey Graham, but it felt like a tiny crack of light getting through when he admitted that when workers make more on unemployment than they do when working there is a problem.

[world wide wally]

5. I still haven't gotten my first stimulus check.

[SheltieLover]

6. Anyone you can call?

I sure hope you get it soon!

[world wide wally]

7. I have no idea.

Does anyone have a suggestions?

[SheltieLover]

10. I hope this helps

https://www.forbes.com/sites/zackfriedman/2020/05/21/stimulus-check-contact-irs/#4a9e428c155a

There is a phone # to IRS in article. 👍

[world wide wally]

13. Thank you so much!

[SheltieLover]

14. You are most welcome!

Glad I was able to help!

[Cha]

20. I'm so sorry, www!

I hope you get resolution.. Soon!

[bucolic_frolic]

15. I think they should make them longer with limits

No double dippers, flatten the payouts, unemployment or stim but not both, and some recognition that staying home is cheaper than commuting.

[Midnight Writer]

17. Would be a smart political move for Republicans.

They could put conditions on when the payments would stop, then blame Biden and the Democrats who will be in power by then for taking it away.

[abakan]

18. The repukes will do nothing now they know they are going to lose.

Making sure Biden gets a sick, broken country that will take more than 4 years to make whole again.