According to the Wall Street Journal, “House Democrats are planning another economic-stimulus bill of at least $50 billion or more that’s likely to include a second round of checks for middle-income people, plus spending on road projects and aid to states.” Of course, as they claim in the article this would not even come up until September. Apparently the House Democrats have met with economic experts to discuss this, and other potential items that should be on legislation.
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With the election year, the fed will probably want to keep the economy rolling - even at the expense of long-term destruction by increasing inflation. By this time next year, inflation could be at 8-10% - and it is already at its highest level in ten years. Pumbing more money into the economy is not a good idea, but politicians will do anything to hold on to power.
Kristin and I had great debate and conversation regarding the initial stimilus checks that went out a few months back. We both concur that another round will not help the economy… But honestly, my savings account won’t complain if the government wants to fund it. Then again, all that money has to come from somewhere. So I am sure we will have our taxes increased in the coming years to pay for it all.