This is a silly battle. Let's dole out the $44 billion we have, end the moratorium and target those that are truly suffering...

A recent headline from the WSJ:

Let's be clear here, we needed to do a lot to shore up the economy during the pandemic caused recession of 2020. Virtually any job loss was not of one's own doing, but rather to this crisis. Therefore printing and handing out trillions of dollars was necessary. This has worked miracles in terms of getting the economy back on track. Despite a slightly less than expected Q2 GDP numbers, we have had the fastest rebound ever and are back to pre pandemic levels and trajectory:

We also have an economy with more job openings than applicants, real estate/stocks/other investment markets at or near all time highs. 

Savings rates are sky high too.  

Yet the Biden administration is looking to extend the eviction moratorium. This should not be a go to move. There comes a point where too much debt and printing of free money will not do anyone any good. 

Firstly, $47 billion have already been allocated to help renters/landlords. Unfortunately due to some administrative morass, only $3 billion of that has been allocated. We need to figure out a way to speed up this allocation in order to help those in need.

Secondly, at this moment in time, people should be able to find jobs to pay their rent. If this is not the case, then of course we should be doing what we can to help them out. 

Thirdly, any help to renters can be a double edged sword at it can come at the expense of landlords. Many landlords will be just fine, but some may not. Same story there. If a landlord will suffer due to lack of payment of rent, then he/she should be able to apply for help. To simply give a blank check to everyone, in an economy as strong as ours, is not prudent. Because who knows, what if the delta variant, or some other disease, cripples the economy again. Will we borrow another few trillion? Probably. But...

Finally,. we are already robbing our children and grandchildren of prosperity by drowning them in a boatload of debt. According the usdebt.org, we have the following situation. Each American citizen owes $85,000+. With the highest Debt to GDP levels ever. This isn't good.

Of course countries like Japan have double this rate and they certainly are still alive and kicking. Therefore I cannot say that this is the tipping point. But there does come a time when the bill will come due and making it that much harder for the youth of today to get on the elevator of prosperity...