Many adult Americans still want more stimulus or inflation relief checks since some of them spend all of their salaries before receiving the next paychecks.
A new study of 1,028 American adults found that at least 24% of people in the country live paycheck to paycheck, while more than 60% support further stimulus or inflation relief payments in 2023.
NEW YORK, NY – MARCH 05: Protestors march across the Brooklyn Bridge to demand funding for excluded workers in the New York State budget on March 5, 2021 in New York City. The march led by undocumented workers and those recently released from incarceration. Many of these excluded workers have been unable to access unemployment benefits, stimulus checks, and other economic assistance programs intended to help working families affected by the COVID-19 pandemic and the ensuing economic crisis. (Photo by David Dee Delgado/Getty Images)
The American economy took a serious hit from the pandemic’s lockdowns and supply chain disruptions, so Congress got to work adopting several relief measures, including stimulus checks that refunded money straight into Americans’ bank accounts.
In April 2020, eligible people received stimulus checks worth up to $1,200; a subsequent wave, worth up to $600, was sent between December 2020 and January 2021. The American Rescue Plan was later approved by President Biden, granting an additional $1,400.
More Stimulus Checks Please: Americans Live Paycheck to Paycheck
Most individuals certainly don’t need an explanation for saying “yes” to additional stimulus checks. An AOL report, citing a GoBankingRates survey, said that 24% of Americans live paycheck to paycheck, so you can see how every little bit helps.
Gen Xers (aged 45 to 54) reported feeling the highest financial stress, with 28% of them saying they were living paycheck to paycheck. However, younger millennials, aged 25 to 34, and older Gen Zers, aged 18 to 24, followed closely behind them (both at 25%).
The majority of people’s financial problems won’t be resolved by periodic stimulus payments, but those with less than $500 in their bank account often benefit the most from them, U.C. Davis said in the same GOBakingRates report.
ALSO READ: $1,050 Inflation Relief Checks Given Off To Californians, See If The Cash Will Land On Your Palms!
Why Some Don’t Like Stimulus Check
GOBankingRates mentioned that 62% of American adults said they want more stimulus or inflation relief checks in 2023. Meanwhile, 22% of the Americans said no and 16% were undecided.
It’s difficult to pinpoint the exact reasons why some individuals may object to free money or more stimulus checks, but it may have less to do with their own circumstances and stem from a more pragmatic viewpoint: that massive infusions of cash into the economy actually cause inflation in the long run.
RELATED ARTICLE: California’s Last Inflation Relief Checks Will We Be Issued This January 14
