Do you recall when the federal government sent Americans stimulus checks during the pandemic? For many people, it was a financial lifeline after so many jobs were lost due to businesses shutting down.
While the pandemic is in our rearview mirror, many Americans are still feeling the pinch with their money. High food prices and unaffordable housing are just two reasons that could’ve contributed to Americans’ credit card debt reaching record-high levels this year.
Read More: I Asked ChatGPT If a Recession Is Coming Soon — Here’s What It Said
Explore More: 10 Unreliable SUVs To Stay Away From Buying
That begs the question: Should the government send out additional stimulus payments to help Americans struggling? If so, how much should each person receive? GOBankingRates turned to ChatGPT to see what it would say.
Should Americans Receive Additional Stimulus Payments?
To gain a better understanding of ChatGPT’s perspective, it was asked to assume the role of an expert in U.S. economics and solicit its opinion on whether the government should provide additional stimulus checks to Americans struggling with high prices.
Its response was like you might expect. “Whether the U.S. government should issue stimulus checks in response to higher prices depends on a careful balancing of economic trade-offs, including inflation, fiscal sustainability, and the current state of the labor market,” it explained.
According to ChatGPT, if payments were to be sent out, it would make sense for them to be directed to households with incomes below a certain threshold or those in specific hardship categories.
Check Out: Here’s How Much Cash You Need Stashed To Survive a Recession in the Midwest
Alternatives to Stimulus Checks
Another solution, instead of stimulus checks, could be to expand tax credits. Boosting programs like the Child Tax Credit or Earned Income Tax Credit could support working families without spiking demand all at once.
ChatGPT also explained it could be beneficial to consider more cost-of-living adjustments for certain government benefits, which could help households cope without large, one-time cash infusions.
How Much Should Americans Receive in Stimulus Payments?
It’d be best to be methodical about how much Americans would receive in stimulus payments. ChatGPT suggested the amount should be targeted based on income and should be modest so it doesn’t spike consumer demand.
Here’s a table that lays out what ChatGPT recommended for possible payments.
| Household Type | Annual Income Below $75,000 | Annual Income of $75,000 to $150,000 |
| Single Adult | $500-$750 | $250-$400 |
| Married Couple | $1,000-$1,500 | $500-$800 |
| Per-Child Bonus | +$300-$500 per child | +$150-$300 per child |
More From GOBankingRates
- 6 Costco Products That Have the Most Customer Complaints
- Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard
- 10 Genius Things Warren Buffett Says To Do With Your Money
- I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money
This article originally appeared on GOBankingRates.com: I Asked ChatGPT: How Much Should Americans Receive in Stimulus Payments?
