The economy will recover – it has too many fundamental strengths to be kept down for too long – and the mood will brighten. This is not to ignore real challenges. Our society is aging, implying higher health-care costs and fiscal burdens.
Moreover, the act would give a bank the flexibility to transmit checks electronically over long distances, and create substitute checks at locations near their ultimate destination, for example to the bank on which the checks are drawn, substantially reducing the time and cost associated with physical transportation.