The pandemic has affected everyone around the world. Kids going to school, sports teams, and one of the most important- jobs. People lost their jobs at an alarming rate during the pandemic. Families that lost jobs started having very rough times and struggling with money. This is a big issue, so how are we going to fix it?
When people lose their jobs they cannot buy things from stores or pay their mortgage/ rent. This causes landlords to not be able to buy things from stores which cause businesses to shut down. After these businesses shut down, they cause the owners not to be able to buy anything which makes even more businesses close. The cycle would keep going on and on until there would be no more businesses left. Luckily, this won’t happen because the government has a system called the stimulus check.
What the government does is give money to businesses, families, and single individuals. For the family’s the parents need to have a combined income of $112,500 or less. For a single person, their income needs to be $75,000 or less. If they meet these requirements the government will give them checks of $1,400. The government has currently given 3 of these checks to each applicant. The government also provides money to businesses in need. This is called the Paycheck Protection Program or the PPP. This is when they give money to businesses to give to their employees. This way they have enough money to keep the business going.
It is very important for people around the world to live a stable economic life. The government is helping people a lot while recovering through the rough times. If they keep doing this it looks like we will be on the right track recovering from the pandemic. This was the stimulus check and how it works!
Watch this video to learn more about the stimulus check!👇