Recently president Trump attempted to gain authorization to distribute $2,000 pandemic stimulus checks to close to half our population. Fortunately the Senate refused to approve the measure, although a round of $600 checks was approved and is currently being distributed. Now, President-Elect Joe Biden has promised to issue a round of $2,000 checks as soon as he gets on board.
While I am a huge fan of Biden’s, I believe he is totally wrong on this one. I believe that mass distribution of stimulus checks of any amount constitutes a wasteful shot-gun approach that will provide an unnecessary windfall to millions of Americans who don’t need these funds.
In reality, any national debt increase results in passing an additional burden on to our children and future generations. The price tag for Biden’s proposed $2,000 distribution checks will be roughly $435 Billion, a huge deficit increase. There must be a better way to target financial assistance to Americans faced with overwhelming financial hardship posed by this pandemic.
If you do happen to receive a future $2,000 stimulus check from the Biden administration, unless you urgently need these funds I urge that you either give the funds to persons in need or donate them to charity.