America Demands Relief: Majority Calls for More Stimulus Checks Despite Economic Uncertainty

The US economy has declined due to the pandemic, leading to multiple rounds of stimulus checks being sent out to eligible adults, with the latest being $1,400 as part of the American Rescue Plan.

Based on a recent survey conducted by GOBankingRates and published on January 12, 2023, 62% of 1,028 Americans aged 18 and older are in favor of more stimulus or inflation relief checks in 2023. In comparison, 22% said they did not want more checks, while 16% were undecided.

19 states are also offering relief in the form of tax refunds for the remainder of 2022, with payments ranging from $50 in Illinois to $3,200 in Alaska. This is particularly important as the study showed that 24% of Americans are living paycheck to paycheck, with the most affected being Gen Xers (28%), followed by younger millennials (25%), and adult Gen Zers (24%).

The reason why 22% are against Inflation relief checks is not clear, but it may be due to the belief that a large amount of cash infused into the economy leads to inflation in the long run. This belief may be due to recent high inflation rates. Additionally, stimulus checks tend to benefit low-income people more than any other economic group, so those not in this category may not see the need for government financial aid.

While the worst economic effects of the pandemic may be over, the future remains uncertain, with the Federal Reserve increasing interest rates to slow inflation. Despite this, there is always the possibility of more stimulus in 2023, as the future remains uncertain.