Coronavirus Stimulus Package provides Americans a lifeline

Information about the Coronavirus Stimulus


Photo by Chase Gibson

The Stock Market is down in share prices, but some stocks are beginning to make a recovery, and are increasing in price.

Chase M. Gibson, RAMPAGE Staffer

The Coronavirus pandemic is one of the biggest medical disasters in the last century. With this designation, it was no surprise that the government would issue some kind of support for the people. Depending on the individual or household income, the Coronavirus Stimulus Package provided a little bit more than 1,200 dollars per person, with 500 dollars more per child, and up to three child bonuses per household. 

According to Brian Dovichi, a personal finance teacher at Central, stated that, “[The stimulus checks are going to] have a very positive effect because there are people out there who have lost there their jobs. The idea of not having those funds in order to pay your rent or mortgage… [The stimulus] makes sure that [people] have at least one extra month of funds.”

However, this pandemic seems to be lasting way longer than anyone expected, and that money is not going to be enough, according to MarketWatch, which states that 84% of Americans say that they need another check.

 Representatives Tim Ryan, (D-OH-13) and Ro Khanna (D-CA-17), believe that they have the answer, and have proposed a new piece of legislation entitled “Emergency Money for the American People Act” which the requirements are for people 16 and older, and make less than 130,000 dollars a year, according to Forbes.  Anyone that meets those requirements is eligible to receive 2,000 dollars a month. There are some other requirements, but they largely do not apply to us, students. The legislation is currently being debated in Congress.

Dovichi explains that the “Emergency Money for the American People Act” would help because, “money being thrown back into the economy… will always help. If you have money to spend, it helps out the businesses. However, the economy is still shut down, [so] it will be hard for it to do what it is intended to do.”

Whether the bill passes or not, survival both physically and financially is important. How do you survive financially if money is tight? 

“Don’t spend [money] on things you don’t need, spend it on things that you do need. Shelter, gas, [electricity], and make sure that your bills are paid.” said Dovichi. 

According to many news sources, it has become clear that no matter what the government does, it will not be enough to help everyone. Dovichi said that the Stimulus Checks are like a, “bandaid on a big hole”. This has been increasingly evident in the stock market, which has been dropping every day. 

However, if you as a student have the money for it, this is the best time to buy, as stocks are cheaper than normal. The market and the economy will eventually recover. If you buy the cheap stocks now, you will be able to sell the same stocks for hundreds, or even thousands of dollars later. 

According to Dovichi, “Buy, absolutely. If you have the money, this is the time to buy.” Investing in companies that are almost certain to shoot up when this is over would be a great way to grow your bank account. “One of the places I thought about investing my own money in was the airline industry, just because people still need to travel. The stock prices have gone up [since the stimulus payments]. That’s just one area I think [will] do well,” said Dovichi.