As unemployment numbers reach record highs, millions of Americans eagerly await financial relief from the much touted $2 trillion bipartisan stimulus package. However, a stunning memo obtained Thursday by The Associate Press reveals that millions of Americans – mostly those likely to be hardest hit by economic hardship – will not see a single penny until this August.
The memo states that about 60 million payments will be made to Americans via direct deposit in mid-April. However, those without banks or direct deposit may have to wait until – get this – August 17 to receive their checks.
According to CNBC, 25% of U.S. households are ‘unbanked’ or ‘underbanked.’ So who are these people without bank accounts? Many are folks who don’t have enough money to open an account. Another category includes people in underserved neighborhoods without access to banks.
Based on these statistics and the memo obtained by AP, it’s not hard to do the math: those who need the checks the quickest, will receive them the latest.
Gal Gadot and her celebrity friends singing a rendition of John Lennon’s ‘Imagine‘ didn’t go viral because simply it was ‘weird.’ Rather, at a time when many Americans are struggling to make ends meet, a video of a bunch of wealthy elites singing about living without possessions from their 20,000 square foot mansions came off, shall we say, just a wee-bit tone deaf.
In this case, the federal government’s timeline to distribute this financial relief is just about as tone deaf as Gal Gadot singing the iconic Lennon tune. But for millions of Americans out of work, and out of cash, they’re not going to have to imagine a world without possessions – they’ll be living in one.