Lack of new coronavirus stimulus check is making people angry

People started getting their first stimulus checks in April. These checks helped millions pay for their basic needs amid the coronavirus pandemic. However, things haven’t changed much since then. Yet, there are no signs of a new coronavirus stimulus check, and this is making some Americans angry.

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Q2 2020 hedge fund letters, conferences and more

No new coronavirus stimulus check

More than five months have passed since Congress approved the CARES Act. However, the economic and financial scenario hasn’t changed much. Businesses are either closed or seeing reduced revenues.

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The unemployment numbers are also significantly high. Another 1 million people filed for first-time unemployment benefits last week, the Labor Department revealed Thursday. The number was a small drop from last week, but is still on the higher side. Since March, when the pandemic started to take a toll on the job market, there has been just one week with fewer than a million claims.

Despite concerning unemployment numbers, there is little help from the government. The $600 per week federal unemployment benefit expired in July with no clear timeline for when it might be reinstated. Although President Donald Trump wrote executive orders to extend the unemployment benefit, only a few states have actually started paying the extra $300 to $400.

Amid such a backdrop, millions of Americans are dealing with major cash shortages. With no unemployment bonuses and the first stimulus check already spent, many have fallen behind on rent and other bills.

People are frustrated, angry and confused

They have long been expecting a new coronavirus stimulus check, but so far, they have only gotten assurances and disappointments.

What’s adding to their frustration is that politicians continue to delay things and are blaming each other for the stalemate over the next coronavirus package. Another thing many are unable to digest is why they are not getting stimulus checks even though both sides agree on sending $1,200 stimulus checks.

Due to such uncertainty, many have taken to social media platforms to express their frustration and anger over the situation.

“We are in the 6th month of a pandemic and the government hasn’t dropped more stimulus checks but people are supposed to evacuate for a Category 3 hurricane. Where are they supposed to go with no money? How are they supposed to be safe from a deadly virus,” one user tweeted.

It is not just the general public demanding a new coronavirus stimulus check. Many economists also agree on the need for another round of stimulus checks. Last month, a group of over 150 economists urged Congress to send regular stimulus checks until the pandemic is over.

The Wall Street Journal also noted that Americans are spending less on groceries this month than they did in July. This is seen as a sign of people being cautious in the absence of federal stimulus.