After election, US faces “dark winter”:
— Enormous unemployment programs 4 millions to expire
— Protections 4 renters, student borrowers end
— ACA at Supreme Court
— Gov shutdown Dec 11
— 40% restaurants, 66% hotels face closure
— 1M travel jobs at risk https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/
— Enormous unemployment programs 4 millions to expire
— Protections 4 renters, student borrowers end
— ACA at Supreme Court
— Gov shutdown Dec 11
— 40% restaurants, 66% hotels face closure
— 1M travel jobs at risk https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/
These deadlines likely coincide with a spike in Covid cases *and* while Washington may be paralyzed
Some former senior WH officials predicted Trump will lose interest in a post-election stimulus — tho he has said he will seek one after GOP wins House https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/
Some former senior WH officials predicted Trump will lose interest in a post-election stimulus — tho he has said he will seek one after GOP wins House https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/
Hunger already up dramatically. 30-40 million face eviction. 80K bus drivers furloughed. Retailers under siege. Huge layoffs in oil & gas. Public transit face major cuts.
*90%* of $2.7T in Covid aid has been disbursed or committed, per @MarcGoldwein https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/
*90%* of $2.7T in Covid aid has been disbursed or committed, per @MarcGoldwein https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/
I had not realized extent of UI cliff
Initial $600 expired; $300 largely gone
UI 4 gig workers/self-employed to also expire -- along w/, crucially, the base benefits of millions
(Thanks to @EvermoreMichele @hshierholz @NathanTankus) https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/
Initial $600 expired; $300 largely gone
UI 4 gig workers/self-employed to also expire -- along w/, crucially, the base benefits of millions
(Thanks to @EvermoreMichele @hshierholz @NathanTankus) https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/
Casey Mulligan, former senior White House economic official, on Trump: "I don't think he's got much interest in stimulus ... He doesn’t like to give anything for free, and I don’t think he’s going to start now. That’s not his style.” https://www.washingtonpost.com/us-policy/2020/11/02/economy-coronavirus-lame-duck/