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  • Bob Brooks

Key Stimulus Programs are Being Lifted… All at The Same Time!

Over the next 60 days, some key moratoriums and consumer protection programs afforded by stimulus plans are being lifted. These programs were designed to protect consumers from financial chaos during the onslaught of the pandemic.

Let's take a look at what programs are expiring.

September 2021 - The extended unemployment benefits will be expiring. There could be tens of millions of people who are taking advantage of that lifeline.

September 2021 - The moratorium on student loan debt will be lifted. Student loan borrowers have not had to make payments for as many as 18 months. Surveys would suggest that 67% of those who owe student loan debt could not start repaying monthly payments if the moratorium were lifted today.

July 31st, 2021 - The moratorium on foreclosures is lifted. Starting August 1st, banks could proceed with foreclosure proceedings on mortgages that are in default.

August 1st, 2021 – This isn’t a consumer-based program. However, it is worth mentioning. In July 2019, President Trump signed legislation that suspended our country's debt ceiling limit until August 1st, 2021. Basically, this gave the politicians the ability to borrow on an unlimited basis for two years. Well, the party is about to be over. If Congress does not act over the next week or so, the government would not be allowed to borrow money starting in August. Remember, we are heavily dependent upon debt creation to support government spending.

On July 31st, 2021 - The moratorium that halts evictions for nonpayment of rent for renters expires. With demand for rentals, how many property owners will evict tenants who have not been paying rent?

How many people have these programs been helping? Most importantly, how many people have become dependent on these programs and will have a problem at expiration? It seems a little too late to extend these programs. One thing is for sure. I question the wisdom behind having all these safeguards expire at the same time. The number of people affected could be alarming.

Need a second opinion about money and investment issues? Just ASK BOB! Bob is available and always happy to share his views. Bob Brooks is a Financial Adviser and host of The Prudent Money Radio Show, aired daily at 3 PM CST on 91.3 FM, 97.5 FM, and 99.9 FM in the Dallas Forth Worth metroplex. Listen online at www, You can reach Bob at 972-386-0384 and online at

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