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Inarguably, it’s pretty bad right now.

Businesses are closing, unemployment is rising, and people are scared for their health.

Fortunately, governments are coming to the rescue with a swath of economic bailouts, stimulus checks, and hardship support.

And since we’re living through an event that will shape economic policy for generations to come, it’s an ideal time to explore what economic responses we want to replicate in the future, as well as which government policies have completely fumbled the economic response of 2020.

By doing this, we should be able to analyze the efficiency of government spending for the purposes of creating a strong economy.

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📚 Want to learn more about the economics of stimulus packages? We recommend reading “The Courage to Act: A Memoir of a Crisis and Its Aftermath”, by Ben Bernanke
👉 https://amzn.to/2BJvAyx (as an Amazon Associate, we earn from qualifying purchases)

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#Stimulus #Bailout #Economics

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The government sent out an unprecedented amount of money to help Americans deal with the Covid-19 pandemic. It is easy to tell if you received a payment, but it can be complicated to understand the finer details of the policy. Watch this video to learn about what the checks mean for your future tax refunds, who may have to repay the money and to see if you will be eligible for a potential second round of stimulus. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

The IRS and Treasury Department issued more than 0 billion in stimulus payments to Americans at the start of the Covid-19 shutdown.

The checks were meant to give immediate relief directly to people and help boost the economy in the process, but the finer details of the program may be lost on some who received the payments.

One example is that the payments are technically considered a tax credit, but they will not affect your future tax returns, according to Garrett Watson, a senior policy analyst at the Tax Foundation. Some people were under the impression the checks were part of their tax refund.

The technicality helps the IRS and the Treasury Department issue payments with an existing system and calling the checks a credit streamlined the process, Watson said.

Check out this video to learn more about how the stimulus checks work and to see what we know about eligibility requirements for the potential second round of payments being debated in Congress.

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