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Economic stimulus from Washington to boost wallets, confidence in troubled times

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Posted at 8:43 PM, Mar 26, 2020
and last updated 2020-03-26 21:43:09-04

When the wheels of the American economy started grinding to a halt, the federal government stepped in to infuse a little cash to maintain our standard of living. That's what a $2.2 trillion stimulus package aims to do.

The measure will put money into the hands of families like Jason Burtt's to help them cover expenses with less money coming in.

"I look at my stock portfolio and it's down a lot. So I'm holding out," he explained.

Add to that his wife's loss of a part-time job.

"I think the stimulus will help us as far as that is concerned," he said.

Economists say greasing the wheels of the economy with a $1,200 dollar check for almost every taxpayer and $2,400 for married couples will keep the wheels of industry primed for recovery.

”We have myriad situations in the economy, all of which have to be kept intact so that we can be prepared for a recovery," said Waco-based economist Ray Perryman.

So the Burtt family will use its stimulus money to supplement household expenses.

"I don't think it could solve all of our problems or carry us clear to the end of this, but I think for the meantime, I'm really happy to see it's coming. It will help us. It will help us I know that for a fact. It will help us in the short term," said Burtt.

You'll need a bank account linked to your income tax return to get your money the quickest. Those that don't may have to wait up to five months to get a paper check in the mail.

Government leaders hope with a little spending money in our pockets, we might muster the courage to ride out this perfect storm of the virus and it's damaging effects to our economy.