One of the more common questions I get at this site is “Will there be a stimulus check in 2014?”.
The answer unfortunately, is almost definitely no.
Why do people keep asking this question? Well, back in 2008, the US government did give out $600 stimulus checks to most Americans. Needless to say this money was very well received and I’m sure most people woudn’t mind seeing more of those checks.
Who doesn’t like free money?
History of the stimulus check
In 2008, a $600 stimulus check was paid out to most taxpayers in an effort to boost the economy by getting more cash into the hands of people likely to spend it.
In 2009, a $250 stimulus check was sent to all recipients of Social Security (retired people) and SSI (Supplemental Security Income) for disabled people.
Will there be another stimulus check this year?
The factors which might produce another stimulus check could include:
A bad economy – While the current economy isn’t great, it’s better than it has been in the past. Even housing prices seem to have bottomed out. Unless there is a major slowdown in the economy, this will not provide much motivation for another check.
Election year – My theory is that politicians will try to buy votes when given the opportunity. Given that 2013 is not an election year, this shouldn’t be an issue.
What is a stimulus check?
A stimulus check is a check mailed out to a significant number of Americans in order to give government tax money to those most likely to spend it and help stimulate the economy.
There will be no stimulus check in 2013. I know that might be disappointing, but the reality is that is just isn’t going to happen.