Four $1400 stimulus checks specifically focused on the low income. Yeah, this is unbelievable. I have all the details and what you need to know right here on this topic. Let’s get right into it. Alright, So for, for the last year and a half or so, all of us right here in this community have been begging, pleading, and trying to compromise with Congress and the administration to get us just one more one $14,00 stimulus check. Again, specifically focused on the low income, which, by the way, according to what we’ve been actually identifying right here in the community, we’ve been identifying the low income as anybody with an annual income under $40,000 per year. And this, according to our calculations, would encompass about 50 million Americans, of course, give or take a few million. But around that 50 million Mark now, according to our calculations as well, a one-time $1400 stimulus check for 50 million people would cost about $70 billion, which when it comes to the federal government and Congress, that’s not all that much money considering they approved tens of billions of dollars all the time for all kinds of other projects. So sending out a focused one $1400 check for about 50 million people probably wouldn’t be like the biggest deal in the world when it comes to Congress to send out that money for the people who really, really need it.
Right now, as the situation continues to deteriorate as a result of all of this rapidly rising inflation and prices on virtually everything, however, now we’re talking about $1400 stimulus checks. Yeah, There are some pretty big developments about this and I want to talk you through all the details and the moving parts on this because this is actually pretty interesting. So let’s get right into it, however, really fast.
I’m here for you each and every day in any way that I possibly can be, as your one and only daily advocate, to keep you updated with everything going on right now, as things are changing very rapidly, there are new announcements literally every single day hitting the wire, which is exactly why I’m watching it very closely, breaking it down into these short topics and keeping you updated with everything going on right now. As I’ve always said, anytime that something comes out that includes money, benefits, checks, stimulus programs or anything else you can possibly get your hands on right now as a low income or fixed income beneficiary, of course, I want to point it out for you and help you in any way that I possibly can grab the benefits. And like I always enjoy saying, your piece of the pie.
All right, So this is a little bit interesting as far as some things that have developed here.
Like I said just a minute ago, $70 billion is all it would really cost to send out a $1,400 stimulus check. One of them, by the way, for 50 million people, which, by the way, we’ve also run the numbers as well on a $2,000 stimulus check for 50 million people, again, would only cost about $100 billion. So we could also use that as an example as well if we just wanted to do so. However, some new information that recently came out in regards to the administration and President Biden is suggesting possibly even the equivalent of four or even four and a half one $1400 stimulus checks. Let me talk you through the details about this.
And by the way, I’m not here saying anything bad about the President. I’m not here taking political sides. I’m simply telling you the information that was released out of some people that are close to the President and that have information on this topic. So let me tell you all the details about this because this is actually pretty interesting All right.
So as it comes down to it, there’s been some information that came out just a few days ago where apparently the President was supposed to be coming out announcing the cancelation of $10,000 of federal student loan debt per borrower, which would cost $321,000,000,000 to taxpayers. Well, basically what it comes down to as the federal government basically cancels off all this debt and then the bill basically comes back to the taxpayer who ultimately pays for that, because that’s where the money comes from, right? That’s where the federal government gets their money is through tax revenues. However, I’m not saying that this is such a bad thing as far as canceling federal student loan debt. I’m not saying that at all.
I’m not saying it’s good or bad. I’m just saying this is simply the announcements that have been out there. $321,000,000,000 is what they want to wipe off the table, just literally an executive order the President would be signing essentially and wiping off that $321,000,000,000 right off the table. This would actually completely cancel federal student loan debt for over 11 million people. So you can kind of see the magnitude behind this.
However, check this out. As a result of this, if they were to do this again, this would essentially be the equivalent of the federal government spending $321,000,000,000 even though it’s been canceled. This would still be the equivalent because all of a sudden that money is not going to be paid back. And therefore, it would be the same sense as the federal government just taking it on and essentially spending $321,000,000,000. But check this out.
As we considered all of these numbers that I talked about earlier, $70 billion is what it would cost for a one time $1,400 check for 50 million people. But get this, if they were to wipe off $321,000,000,000 right off the table by canceling this federal student loan debt, this would be the equivalent of four and a half one $400 stimulus checks that we could be sent out to 50 million low income individuals. So yeah, pretty big numbers, right. So four checks alone. Let me give you these numbers.
$400 stimulus checks would cost $280,000,000,000, provided they are sent out to exactly 50 million people. Now, again, it’s probably not going to be exactly right down to the number 50 million people, but I’m using that 50 million number because that’s according to the research and everything that we’ve been talking about for a while now. That’s basically how many people really need a fourth stimulus check right now. So sending out a $1,000 check to 50 million people would cost $70 billion. However, with this $321,000,000,000, again, if we multiply 70 billion multiplied by four would bring us up to $280,000,000,000.
This would still leave a surplus of $41 billion in the event that we were going to match the $321,000,000,000 that the President wants to wipe off the table as a result of executive orders. Right. With all the federal student loan debt. So according to the calculations, this would actually equal four and a half $1,400 stimulus checks for all of these 50 million people. That’d be unbelievable, right.
So to put that into perspective, that would be about $6,000. Actually, it would be $6,300. Exactly according to the math here when it comes out to all of this. So essentially, we could put it this way, rather than a one time $400 check, we could do a one time $1400 check for $70 billion for $1,400 checks for $280,000,000,000. Or we could even do the lump sum of one payment of $6,300 for about like I said, 50 million people, which would still equal that $321,000,000,000.
Unbelievable, right? Yeah. We can kind of see how this is kind of like a really big situation here. So even though I do know that a lot of you here in the community would probably benefit from this federal student loan debt cancelation at the end of the day, I know that there’s equally as many people here in the community that do not get any benefit from this because I’ve seen your comments down below saying, what about us? You know what I mean?
So again, I know that’s kind of a controversial topic. I’m not going to go down that road. I’m not going to take either side with that. I’m just simply saying that is the comments that are out there now and those are some of the kind of the rebuttals that are out there as well. For many people that I’ve been reading about in different articles and headlines and different things that have been circling around lately, what are people are basically saying is this is great for the federal student loan borrowers.
But what about all the other people who have outstanding debts as well who maybe don’t have the federal student loans, right. So again, there’s a lot of different back and forth on this. There are a lot of different arguments about this topic. But this is what it would come down to. It would come down to the equivalent of 4.5 $1400 checks for the low income 50 million people who are low income or fixed income with an annual income under $40,000 a year would essentially be the equivalent of 4,1400 checks, actually, 4.5 $1400 checks to be completely accurate.
So anyway, that’s what that would hammer out to be. Unbelievable, right? So we’ll have to see what actually happens here going forward as far as the President goes. But according to the sources, a few days ago they came out and said the President was going to be announcing this $10,000 that would be canceled by an executive order from the President. And then of course, shortly thereafter, they came back and said, wait, we didn’t really mean it that way.
The President hasn’t announced it yet. It’s not official quite yet. We’re not going to be canceling that quite yet. But stay tuned. So who knows?
Again, according to other things that I’ve been reading on this as well, they may want to be timing this perfectly in front of the midterm elections, which again, probably wouldn’t be all that surprising if they wanted to cancel this $10,000 right in front of the midterm elections. Pretty good timing, right? Again, we’ll have to see what actually happens here. We’re a little bit out from the midterm elections as of now. But again, we’re coming up quick here and we know that they want to get some things done as far as all of this money, benefits, programs, executive orders, all kinds of other things that they might maybe want to approve here prior to the midterm elections anyway there’s a lot of different things on the table right now a lot of back and forth a lot of money at stake a lot of money being tossed around right now but of course, as i do get more details on any of this I’ll be right back here for you breaking it all down and letting you know how all of this translates into our pockets into our bank accounts and how it translates into money for the low income fixed income and basically all the beneficiaries I talk about right here on the site.