These funds were thrown out there without a lot of forethought. The same thing goes for the stimulus checks. My wife and I just got $2400 from the feds. Why? We don’t need it. We had a combined income last year of just over $100,000. We live in a rural area, and that income easily puts us in the top 5% around here. Our house is paid for, and we have zero debt. I’m retired with a guaranteed state pension, and my wife has a good solid job. We have more than half-a-million in retirement savings, with most of it in banks, not in the stock market. Why is a stimulus check sent to people like us? We plan to give the money to charity or to some friends who might need help.
“Why? We don’t need it.”
I agree! I’m retired military. My wife and I live off my retirement pay. We saved money. She worked and our house is paid for. Our expenses are low by design.
My income hasn’t gone down a penny. My SAVINGS are down, now, for a while. That is a risk we accept because our lifestyle means my retirement pay suffices.
We could start drawing Social Security but won’t for a few more years. Still don’t truly expect to see it...figure the Dems will introduce a bill to say anyone with military retirement doesn’t “need” social security. But our lifestyle and spending is based on never seeing any, so...we’d still do fine.
Bottom line? We didn’t do anything or suffer anything justifying our getting $2400. My wife has family overseas who are being hard hit and sent her $1200 to her family. My daughter in the military, being pretty idealistic, gave hers to charity. Mine went to our other kids. But...the US government is already operating at a deficit! WHY?!
The best thing about the stimulus was that they gave it to everyone not requiring a lot of paperwork that would have made a lot of government workers busy while soaking up a large portion of the money.
Read my post #37.