The $5,000 Stimulus Check Proposal Is Really a Social Security Cut in Disguise

For the past three months, the coronavirus disease 2019 (COVID-19) pandemic has completely upended what seemed to be an unstoppable U.S. economy. Mitigation measures designed to slow the transmission of the coronavirus have led to more than 36 million Americans filing for initial unemployment benefits in an eight-week stretch, and they may well throw the U.S. into a recession for the first time in more than a decade.

Knowing full well the ramifications tied to slowing the spread of COVID-19, Congress passed and President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law on March 27. At $2.2 trillion, the CARES Act provided sweeping relief to distressed industries, small businesses, the unemployment benefits program, and hospitals.

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Source Fool.com