Coronavirus

Another Budget Battle?

Update 490 — Another Budget Battle?Over What? And How Can the Fed Help? With days dwindling until the December 11 deadline for a budget deal needed to avert a government shutdown, Congress is negotiating yet another Continuing Resolution, which will alter federal spending priorities not at all as economic conditions continue to worsen. What’s the …

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Congress’s Lame-Duck a Turkey?

Update 488 – Cong. Lame-Duck a Turkey?“Must-Pass” Items Will; Relief, Not So Fast This Friday the 13th comes as coronavirus cases in the U.S. top 140,000 a day, three times a month ago, and the unemployment rate remains twice as high as it was in February. As we head into a lame-duck session of Congress, …

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Consequences of Failure

Update 481 • Consequences of Failure:The Prospect of Months without Relief  The CARES Act, passed in March, was a short-term antidote to head off the worst of the economic impact from COVID. Many of the programs were designed to sunset this calendar year, with the expectation that Congress would provide additional relief to follow as …

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$260bn+ in CARES Unused

Update 472: $260bn+ in CARES Unused; A Fiscal Fix for Fed Facility Failures? $454 billion was provided in the CARES Act enacted in March, the biggest corporate assistance package since TARP. Today, $259 billion remains uncommitted. All the while, fiscal relief has run out and the American people are suffering. While the $259 billion sits idle, …

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GOP’s Unkindest Cuts

Update 471 — GOP’s Unkindest Cuts:The Skinny on Mitch Bill to Slash CARES Even emaciated elephants don’t change their stripes. Mitch McConnell’s half-baked, half-loaf, half trillion dollar retreat from the last GOP relief offer would cut CARES benefits across the board. This when 30 million Americans are newly out of a job, millions of firms …

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Economic Impact of COVID on Millennials

Update 470 — Generating Inequities:Economic Impact of COVID on Millennials For the 75 million Americans born between 1981 and 1996 — the millennial generation — the economic scars caused by COVID will last longer and do more material harm than for any other cohort. From distant or delayed classroom learning at tuition rates making education …

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Growing Chorus for Relief Administration Joins in; Will Mitch Switch?

Update 469 — Growing Chorus for ReliefAdministration Joins in; Will Mitch Switch? ‘Twas the week before Labor Day when all through the Senate, few creatures were stirring, at least from their tenets. In fact, the GOP Senate leadership needs a fig-leaf to act. Sticking to ideology is an increasingly risky proposition for the majority in …

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