In A State Of Constant Stimulation

As we approach the two-year anniversary of the initial governmental shutdown orders of 2020–and are still dealing with the various variants of COVID-19–some members of Congress are back to considering whether more “stimulus” efforts should be undertaken, and a two-year-old Change.org petition calling on the federal government to send out $2,000 monthly “stimulus” checks to all Americans has passed the 3 million signature mark.

The initiators of the petition contend that, even after two years of various “stimulus” payments, the $2,000 monthly checks are needed because of uncertainty about what could happen if the government orders a new round of closures, if schools require remote learning, or if other disruptive events occur. The article linked above quotes the initiators of the petition as saying that signers are trying to send a message: “‘We just need certainty. We need to have something we can plan on month after month.’”

In short, for some people what began as an effort to help individuals and businesses while the country dealt with the economic shock of the initial, purportedly short-term “flatten the curve” shutdowns, through “stimulus” checks, enhanced unemployment benefits, and readily available business loans, has morphed into a quest for guaranteed, federally funded monthly income that would apparently extend into the indefinite future. When you reach that point, it can’t reasonably be called a “stimulus” payment anymore–unless you accept that our economy now is in need to constant “stimulation,” like a Frankenstein’s monster that is forever being zapped with high-voltage electricity in order to keep going. And such a budget-busting monthly payment obviously would have significant inflationary effects and other long-term consequences for the economy generally and the labor market specifically.

An interesting point is that the primary stated reason for the requested monthly checks is the impact of governmental decisions, like closure orders and requirements for virtual schooling from home, on individuals and families. Perhaps the real lesson from the petition isn’t that some people would like to continue to get governmental checks–that’s really no surprise–it is that governmental entities need to think twice about consequences before issuing new sweeping and disruptive orders after two years of COVID edicts.

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