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Here’s who is paying the nearly $300 billion for your stimulus checks

Congress has yet to pass a second round of stimulus checks, but we already know how the potential new payments will be funded. 

The CARES Act in March authorized about $300 billion in stimulus checks to go directly to Americans’ bank accounts.

The payments process involves an interesting way to borrow and figuratively print money, according to Sahil Bloom, a financial educator and vice president at Altamont Capital Partners. 

Bloom said that the government can create money without actually printing physical currency. “We live in a digital age. So really money is just numbers on a screen,” he said. 

The undertaking involves three key players: Congress, the Department of the Treasury and the Federal Reserve. Check out this video to see who actually “clicks the button” and to learn how the process can backfire.  

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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