There has been so much conversation about the Budget, The Debt Ceiling, and Inflation no one is thinking about the Millions of Americans who signed a petition requesting a monthly stimulus check. Let us not forget there is a petition calling for another stimulus check with currently over 2 million signatures on change.org. The men and women who signed the petition represents “We The People”. This phrase is found as the first sentence in the United States Constitution that means the government gets all of its powers from all of the citizens of the United States of America. They are registered voters, so why is the $2,000 a month for every American Petition being ignored. Currently, there is little to no discussion in support of pushing this bill to the House of Representatives Floor.
I recently spoked with a few Economists, and Financial Experts to talk about if it is necessary to have a $2,000 a month stimulus check due to the omicron variant and the overall state of the economy.
Dr. Tenpao Lee, professor emeritus of economics at Niagara University. Dr. Lee earned his Ph.D. in economics from Iowa State University. He was a Fulbright Scholar to Taiwan in 2001 and a Fulbright Senior Specialist from 2002 to 2009. In 2013, Dr. Lee was named as a Distinguished Visiting Research Fellow by Jianghan University in Wuhan, China. In 2015, he was awarded the title of "Shanghai Distinguished Oversea Professor" by the Shanghai City Government, China. In addition to business statistics, Dr. Lee has taught supply chain management at both the undergraduate and graduate levels. He also developed a study aboard program with Asia that includes China, Taiwan, and Japan. Dr. Lee's research focuses on the impact of globalization on the economy. He was the editor of the International Journal of Intellectual Property Management.
“The federal government should not have another stimulus program for all Americans as the current issue is not a demand issue, but a supply issue. Specifically, a supply issue caused by the pandemic prevented companies from delivering goods smoothly to consumers. A stimulus program will enhance the aggregate demand and create a potential of inflation. A stimulus program will not alter the aggregate supply. In addition, the income distribution has worsened as the stock markets and housing become more expensive. Higher inflation made many poor Americans unable to maintain a minimal cost of living. Therefore, it is a social issue rather than an economic issue. The federal government must have a program to help the extremely poor rather than stimulate the economy.“
Asher Rogovy Chief Investment Officer of Magnifina (an SEC-registered investment advisor) and holder of a Master's in Economics.
"According to macroeconomic theory, fiscal stimulus increases inflationary pressure. While economists may argue about the effects of inflation, few would argue that stimulus causes it. Given how concerned Americans are about inflation, further government stimulus is unlikely. To avoid inflation, stimulus payments could be offset by policies that reduce inflation (such as tax increases). However, the political outlook doesn't bode well for a nuanced plan to pass."
Corey Noyes Owner & Financial Advisor of Balanced Capital said, “The current labor market puts us in a position where it has never been better to look for better/higher-paying employment. I know there is still some uncertainty with the new variant of the virus, but it is hard for me to justify the government sending out that much money again when the opportunity to better one's situation has never been better.”
Veronica Charnell: What do you suggest applicants should do if Employers rejects the salary range they are requesting?
Corey Noyes: I would recommend that person continues searching until they find the pay they are looking for. I am not advocating that anyone should quit their jobs immediately. Simply that with the labor market so tight, many people would find if they start applying and taking interviews they may be able to find a position with greater pay than the one they are currently in.