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Happy New Year!
Monday, January 4, 2021
Congress passed a new stimulus package in December. Among its relief provisions are more checks to low-income individuals and families. Those who earned less than $75,000 in 2019 will get $600 and married couples who earned less than $150,000 will get $1,200. Several Democrats and President Trump pushed for $2,000, but many said that it wasn't the best way to help the economy. The whole package cost $900 billion, making it second only to the $2.2 trillion CARES Act passed in March. It also funds additional government help to businesses, and COVID vaccine production and distribution. The vaccines by Pfizer and Moderna have been approved for emergency use by the FDA, and millions of shots have already been given to front-line workers and the most vulnerable. There have been some allergic reactions to some who have received it, and many people don't want to get it at all. Still, the existence of vaccines provides hope that the pandemic will soon be over. People around the world celebrated the new year, hoping that it would bring better tidings than 2020. Cryptocurrencies like Bitcoin, currently worth nearly $33,000, have been steadily on the rise over the past year. Some believe that it will be the future of money, but even if it dies, the underlying framework is important. Blockchain is a public list of transactions. When two parties make a transaction, other mining computers work to decrypt something to certify that. Once that is completed, the transaction ends up on a public list that cannot be changed, preventing fraud. It could also remove banks, lowering transaction rates. Another potential use is for public records. Boston Dynamics recently released a video of all of its robots dancing to a tune to celebrate the new year, inciting reactions all across social media.