As my friend Jennifer tells me, this check is not a “tax cut.” It’s an extension of our federal government’s unprecedented role as the primary force driving the global economy, including the economy of the U.S.
The reason this check is so important is because the federal government’s role in the economy is growing exponentially. This stimulus check is just the latest of many steps the federal government is taking to try to rein in the free-market forces that are driving the economy. A recent Wall Street Journal article highlights a growing trend of state and local governments making deals with the federal government in hopes that the two will work together to create a more level playing field for small businesses.
I’m sure that this is a good thing. While it doesn’t look like this check will go far enough, this doesn’t mean that we can do without it. In fact I’m pretty sure that a lot of Americans would like the federal government to be more involved in their lives, but it’s not quite what it normally is.
While this does mean that the federal government is going to take on a larger role, it doesn’t mean that we’re going to have to do much. The problem is that the checks are so far out of reach for most people that they’re unlikely to be enough to solve much of the problem. The bottom line is that the federal government is a major player in the economy, and we’re going to need to make progress in order to get better.
If you’re reading this, you probably don’t have much cash on hand. You’re probably not rich. But you do have some money: your 401(k) account. You also probably have some credit cards, perhaps a student loan, and a few other loans in various iterations. Because you’re unlikely to be able to pay those all off in a single check, you’re going to need to take out a loan.
This is a time to be saving for a rainy day. But if you’re in the market for a loan, you should be thinking about exactly what kind of loan you’d like. And that’s where 4th stimulus check comes in. It’s designed to help you pay for college for student loan borrowers.
The first time I took out a 4th stimulus check was in 2007. I was a senior in college and had just finished my first semester of my junior year. I was doing well in school and just had enough saved up to get me through my last semester of college. I had a $1,000 in my checking account and the first check I took out was for $4,000. That was it.
And it was only my second check, so I was feeling pretty good. I had already maxed out my 401K account and I was saving for my next car loan. The first time I took out a 4th stimulus check was again in 2007. I had a $4,000 savings account and I was maxing out my Roth IRA account. I was in the middle of taking out my first car loan.
In 2007, we saw the first stimulus check and it was only for $1,000. In 2008 that figure jumped to $4,000. In 2009 it jumped to $9,000. And in 2010 it hit $12,000. So far this year, we have $9,000 in stimulus checks. In the last few weeks we’ve had $9,000 in stimulus checks.
So you can see why I’m always a little sad when I see a check for $12,000. That’s because we’re on track to see our next inflation scare in 2012, but I don’t want people to panic. It’s been a very long time since we’ve seen such a big check.
