Where Is The Stimulus Going?
By Jim Bauer
@porwest (112717)
United States
March 3, 2021 6:20am CST
It is often a bit of a funny thing to me the way that the government sells stimulus. "American families need to pay their rent. They need food on the table. They need to keep the lights on. People are in pain."
The reality is that stimulus money generally does not go to these things, and we have seen that in a recent massive uptick in retail sales.
Kohl's, Target, and Walmart particularly have seen sales surge and surge big time, and the common denominator are stimulus checks. And quite possibly even the strong prospect of another round is fueling tacking on of credit card debt.
People assume they will be able to pay off the debt in the next round, but they want to spend now.
Granted, some of this money MIGHT be going to food. But it is certainly not going to things like rent, or paying the electric bill. The lion's share of this money is being used for discretionary items in these retail stores.
It is still good for the economy. But I think it is important to understand that what is SOLD as one thing really is more about ANOTHER thing—and as I have said many times in the past about the idea of stimulus...
It really doesn't do much to really help anyone get ahead or even catch up for that matter. The money is simply blown more often than it is used for its intended purpose.
13 people like this
13 responses
@marguicha (230334)
• Chile
3 Mar 21
What is stimulus? In my country the government has helped the people with less resources with money. Yet each person does what he wants with it. But on the other hand, that help is more a political manipulation as I see it. Money can never be given for an intended purpose. But there can be help in food or other especific items.
2 people like this
@marguicha (230334)
• Chile
3 Mar 21
@porwest All this pandemic has been difficult for many. But I´m against so much comsumism. It can be stopped a bit at home and at schools.
1 person likes this
@porwest (112717)
• United States
4 Mar 21
@marguicha Countries who embrace consumerism do better financially for everyone. No one can make money if no one spends it. lol
1 person likes this
@porwest (112717)
• United States
3 Mar 21
Yeah, these are just monetary offerings at the expense of the taxpayer. The money will eventually have to be paid back as well, so it's a bit moot ultimately. The best thing the government could have done is just to reopen things and get people back to work.
2 people like this
@lovinangelsinstead21 (36847)
• Pamplona, Spain
5 Mar 21
I hope that everyone can get enough money to see to all their basic needs that is the way I see it.
1 person likes this
@lovinangelsinstead21 (36847)
• Pamplona, Spain
5 Mar 21
@porwest
Just what I think but at the moment from what they are saying its just one big mess over here it will take quite a time.
1 person likes this
@lovinangelsinstead21 (36847)
• Pamplona, Spain
6 Mar 21
@porwest
But here it is that way at the moment.
Because tourism a huge part of the economy here the economy is quite smashed and they are calculating over 5 million without a job and that does not include the ones that took voluntary leave while the Covi thing has been going on.
Rome was not built in a day and neither will Spàin be.
1 person likes this
@MarshaMusselman (38865)
• Midland, Michigan
5 Mar 21
Exactly. I work in retail and see just that all the time. I think it's paying for a little of the hike in power usage the government recently pushed onto us but again most people won't use it for that.
If it even gets passed we will save it. Seriously.
1 person likes this
@MarshaMusselman (38865)
• Midland, Michigan
6 Mar 21
@porwest and that doesn't seem like it's in the works anytime soon.
I left a message with the person that blocked you.
1 person likes this
@MarshaMusselman (38865)
• Midland, Michigan
6 Mar 21
@porwest I heard there were about thirteen states that opened back up again. I'm guessing they all have conservative governors.
1 person likes this
@lovebuglena (52144)
• Staten Island, New York
5 Mar 21
So instead of paying rent and utilities, etc. people go out and buy useless stuff? I heard they wanted to do another round of stimulus... Is that actually gonna happen?1 person likes this
@lovebuglena (52144)
• Staten Island, New York
5 Mar 21
@porwest That can't be a good thing.
1 person likes this
@porwest (112717)
• United States
6 Mar 21
@lovebuglena Ultimately it's not. It may boost the economy a little bit in the short term, but eventually all of this money being tossed out there is going to bite us all in the butt. The sad part is that when you look at polls now, the majority of people support it and want more of it. But of course they do. lol
@msdivkar (23356)
• India
3 Mar 21
I agree with you. One important segment benefitted by these stimulus packages is the stock market. This money finds its way into stock market and stock markets are at record high all over the world. I don't think a common man is benefitted by this. Who are getting richer are big finance companies.
@RebeccasFarm (91299)
• United States
1 May 21
Mine..I know it where it went..freaking bills and another thing I cant mention ...annoying
1 person likes this
@moffittjc (128824)
• Gainesville, Florida
3 Mar 21
I've been saying that since the very first stimulus checks were issued. People weren't using the money to pay down debt, put food on the table, or pay their electric bill. I was working at Home Depot at the time, and our sales tripled after the stimulus checks went out. People were buying everything that had nothing to do with helping them alleviate the struggles of the pandemic. "I lost my job due to the pandemic, so I'm going to go blow this stimulus money and build a new deck in the back of my house so I can put my new hot tub there."
@Dena91 (17029)
• United States
3 Mar 21
We just deposited ours into our bank account.
We are able to with what I make and Mike gets from his social security pay our bills each month. It helps tremendously that throughout our marriage we lived on a budget so that we could get our mortgage paid off early (12 years to be exact) and our car loans when we had them. So now we don't have that concern at this point in our lives. Just have to buy food, pay water and electric and save each month for the home insurance, car insurance and taxes.
@LindaOHio (222288)
• United States
4 Mar 21
I know of several MyLotters that will be using the money to pay the rent. The latest stimulus check, for us, will probably go into savings...or maybe an investment?
