General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsStimulus stalemate threatens more hardship and slower recovery, economists warn
The failure of Washington to deliver another big dose of stimulus before the election probably wont tip the U.S. back into recession, economists say, but the lapse in aid threatens to destroy more businesses, inflict greater pain on millions of unemployed Americans and drag out a recovery.
The most vulnerable are the nearly 11.5 million people who were laid off early in the pandemic and are still out of work, economists say. So far the U.S. has only regained about half of the 22 million-plus jobs lost, and the rebound in hiring has slowed sharply since the summer.
On top of that, 25 million people were reportedly receiving jobless benefits as of the end of September, suggesting the real level of unemployment is significantly higher. Whats worse, many of them are set to lose extended unemployment benefits at the end of December under current law.
Many businesses whose customer traffic has dried up due to government restrictions and fear of the coronavirus are also in a precarious spot.
https://www.msn.com/en-us/money/economy/stimulus-stalemate-threatens-more-hardship-and-slower-recovery-economists-warn/ar-BB1ai60f?li=BBnbfcN&ocid=DELLDHP
Sherman A1
(38,958 posts)after the election and probably not until the Biden Administration.
Boogiemack
(1,406 posts)are vindictive evil, unpatriotic cowards.
FirstLight
(13,360 posts)Even posted here in Marketplace for a gig or two to help
Literally have $4.80 to my name right now and haven't paid utilities in a while either ...
Wellstone ruled
(34,661 posts)vengeance cake. Moscow Mitch never works legislation that does not benefit him and his small group of pals. It is all about political leverage,nothing more nothing less. Mnuchin is just a willing dupe willing for a price to play the village idiot.
You know damn well,McConnell will never let a Woman with Political Power get the best of him. And the Speaker has done every thing possible to make this Stimulus Bill appear to carry his name .