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It's very likely there will be additional stimulus packages. Not only packages to just sustain the economy in the short term - but also additional packages to recover.
The US economy is about 70% shut down (70% of all spending is driven by consumers), which if you're doing the numbers - is around 15 Trilllion (22T was the GDP as of last year).
2T is a drop in the bucket to make up for lost spending.
The 70% is based off the basic formula for GDP = C + I + G + Nx, C = consumption, I = investment, G = government expenditures, Nx = Net exports (Import - Exports)
C has fallen off a cliff. G has to make up for it to prevent it from going to 0. This is all done in an attempt to preserve the GDP.
Honestly, I hope there isn't a second stimulus. I say this with a heavy heart because I understand the suffering going on now, but eventually we are going to have to come to some compromise to return to work because we can't afford it.
I'm expecting another check probably the end of October. Might be as much as $2000 a piece.
Think it will be that late? I was thinking mid-summer. Many of my friends have already gotten their first one, we're waiting impatiently.
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