Well, that day has finally arrived.
The 1st (or the 2nd, the Virus being #1?) drop of rain before the storm in a way, has falling.
Millions in U.S. lose jobless benefits as federal aid expires, thrusting families and economy onto uncertain path | The Seattle Times
I'm just going to take a few excerpts from this article that really stand out to me.
More than 7 million out-of-work people across the United States are set to lose all of their jobless benefits this week as three federal programs expire on Monday, in what several experts described as one of the largest and most abrupt ends to government aid in U.S. history.
In addition to the more than 7 million people who will lose all their benefits, nearly 3 million more people will lose a $300 weekly boost to their state unemployment benefits.
The cessation of this jobless aid, first put in place by Congress nearly 18 months ago, could upend the lives of millions of Americans still struggling to find work at a time when the pandemic’s delta variant is wreaking fresh havoc across a number of states. It could also lead to a sharp pullback in spending, particularly in certain areas of the country, impacting a wide range of restaurants and other businesses that rely on consumer dollars.
“I don’t understand how anyone in Washington cannot know normal people, their friends, families, cousins who are going through this,” said Kathleen Fox, a producer in New York whose past work has been recognized with a prestigious Peabody Award but who has struggled to find work after the pandemic upended her industry. “The (Biden) administration has lost interest in this cause and they’ve moved on to other things.”
Now there is heightened anxiety, even within the White House, that pulling so many people off government support so abruptly could push millions of people into poverty and cut off access to food or nutrition for people caught on the wrong side of this uneven economy.
“I’m predicting a silent type of pain,” said Andrew Stettner, a senior fellow at the Century Foundation think tank and an expert on unemployment insurance, who has estimated that some 7.5 million people will be cut off from aid on the programs’ expiration date. “If past periods have been an indicator, many will be caught in a spiral that will lead to a downward quality of life.”
The programs initially boosted jobless benefits by $600 a week before Congress lowered the amount to $300 a week. They also expanded the pool of workers eligible for government aid and increased the number of weeks workers could draw on unemployment insurance. But this assistance has also emerged as a divisive flash point in a political debate over whether government assistance discourages people from returning to work.
Republicans and numerous business groups have argued the extra benefits were contributing to a labor shortage and slowing the economic recovery, alleging it had become too lucrative for people to stay home rather than get a job. They have called for investigations of fraud in the programs, alleging hundreds of billions of dollars in unemployment aid may have been stolen.
Over the summer, 26 Republican run states announced they would end these benefits early, providing a glimpse of what millions of other Americans will now face. Since then, economists have studied data on job gains and spending to see how local economies have reacted to the withdrawal of benefits amid a pandemic, and to determine whether the extra aid was holding back job growth.
Their conclusions are ominous: one study found that for every eight workers who lost benefits, just one managed to find a new job, and found a dramatic reduction in spending, suggesting the people who lost benefits were left in a precarious financial situation.
"Their conclusions are ominous"
Really, ominous?
That's it?
How about catastrophic?
I think that word is much more appropriate, as is this photo from the past (precursor?)
Fucking ineptitude
These are our leaders, elected REPRESENTATIVES of WHAT WE REALLY ARE, a boatload of idiots with a vote in choosing a path for our fucked up society/nation that is about to get a whole lot worse.
That, according to data/projections, is pretty much a guarantee.
It fucking has too, just do the math.
We have no money left to pay for extended benefits or anything for that matter (wait until the bill comes in for the hurricanes)
As of August 2, 2021, the U.S. Treasury’s official figure for the debt of the federal government is $28.4 trillion—or more precisely—$28,427,698,645,832.
This amounts to:
$85,476 for every person living in the U.S.
[7]
$221,312 for every household in the U.S.
[8]
130% of annual U.S. economic output (GDP).
[9]
7.8 times annual federal revenues.
[10]
68% more than the combined consumer debt of every household in the U.S.
[11]
We are in so much debt now, at this moment, that it's mind-boggling
Pay for infrastructure?
Ha Ha Ha!!!
Who's going to lend us the money?
Yes!!!!!
The fucking Chinese!!!!
Oh, this is good & it keeps on getting better & better every fucking day.
Sure, the stock market is doing well.
Who really gives a flying fuck, only a small portion really make any money off it.
Most people don't have the money to buy any stock, little things like rent/food/childcare/medicine/medical bills, etc., seem to get in the way
Why should things change now?
They won't/can't
We're fuckups, it's innate
Except for me
I'm coool
Wear a mask/get jabbed/donate to the Homeless, NOW!!!
Tune time
This is good
But, this is better
and I just like this