The extra $600-a-week unemployment benefit has kept jobless people from plummeting into further debt and has allowed for sustained spending, a boon for the struggling economy.The extra $600-a-week unemployment benefit has kept jobless people from plummeting into further debt and has allowed for sustained spending, a boon for the struggling economy.Ordinarily when people lose their job, they spend less money.
"Unemployment benefits have been absolutely transformative for the households that have been able to receive them during this crisis," said Peter Ganong, who studied the spending patterns along with colleagues from the University of Chicago and the JPMorgan Chase Institute."It actually turns out that they're helping to sustain the U.S. economy as a whole."
"You just have a little bit more security," Mancuso said."You feel a little bit more comfortable. You can pay your bills and still have money. If you needed a pair of sneakers, you can go buy a pair of sneakers." As of last week, though, the extra $600 in federal help for the unemployed has run out. Mancuso's weekly benefit dropped from $873 to $273. He used the last of his extra federal money to pay this month's rent.
That is the half full prediction. It's going to be much worse as the snowball from hell gains momentum. So many awful dominos falling will make Americans yearn for July unemployment numbers.
Nancy Pelosi is queefing at the thought of a ruined economy as Bill Maher masterbates furiously in his Porsche realDonaldTrump DonaldJTrumpJr TuckerCarlson seanhannity SpeakerPelosi billmaher Trump2020LandslideVictory please God 🙏
ButterflyLove_8 This will paralyze the economy and promote crime. This rep senate is the worst in our history.
Federal Pandemic Unemployment Assistance💲has been withheld (2Months+) from AZ Citizens. Someone in DC should hold dougducey & ArizonaDES accountable for this Corruption CC: VP RepDavid USTreasury TheJusticeDept seanhannity RepAndyBiggsAZ SenatorSinema SenMcSallyAZ
You mean we all weren't just stashing that 600 in a shoe box under our bed and bragging about not working? Weird
And then, what will be the monthly jobs report in Oct? Unempl claims through Oct?
Nearly every dollar of the $600/week went right back into the economy. Wait until the August 's come out. They won't be good.
This is exactly what I don’t understand about the GOP position.
Or people could go back to work.
Isn't the House still away from DC?
Andreavedmonds We need more than just $600.. we need ongoing EmergencyMoneyforthePeople
we're only pawns in their cruel, sadistic game.
Isn't that the Republiklan game plan all along? Every Republiklan since 1900, except for TR and Ike, have destroyed the economy on the way out the door and left the Democrats to clean up the mess.
Well...Ms. Pelosi said it best...
Hey, I am one of the many....when will the tent cities and soup lines be set up?
This is just mind boggling that GOP senatemajldr don’t grasp this simple notion of economy .. if you stop the pay people aren’t magically getting back to work when there is none and no body is buying shit from shops so stores go bankrupt,millions of tons of food rots unsold.
Good. Stop the nanny state and open our society.
That $600 unemployment bonus has to go, but it should probably be tapered down to 0 over several weeks.
Sorry but senatemajldr is busy working on some more tax breaks and bailouts for his CEO pals - like a real American.
I don’t think that the right wing realizes just how much that $600 a week has been propping up the economy. thanks to their negligence, we all get to witness the consequences of having that suddenly turn off like a switch. this is gonna hurt so many people. Goddamnitsomuch.
The 4th quarter for most brick & mortar businesses might be a disaster this year
If there’s one thing the GOP excel at, it’s ruining the economy and exploding the deficit. So, no doubt they’ll continue to fight the $600 in service if fighting “big gov” while the feds are snatching up citizens.
'at least some of the extra $600'....but I've been told by most of the media that if people don't get the full $600, they won't be able to afford their prescriptions and will face eviction
SenatorLankford
Why don't they get a job?
$2400 A MONTH to stay home, what do you think this is Europe?
Tell as much to Mitch McConnell and Mark Meadows, since those two can't seem to figure that out!
Nancy needs money for weed and illegals
What do they need extra for?
Because of President Trump’s tax cuts, over 500 companies used those savings to fund bonuses and wage increases for their workers.
Welp, I'm going into zero spending. Probably millions will do something similar. Good luck with that economy & September Jobs report gop fuckers.
So if they started spending more why are so many not paying rent?
This is what the Republicans don’t want and the real reason they won’t extend the benefit. The banks/cc companies make their money when people don’t pay their balance in full or on time.
Then you need new researchers.
I have yet to hear if the $600/ wk federal money is TAXABLE. Where I live unemployment benefits are taxable income.
BigFIN are not pleased with this result. They are served by keeping the poor subjugated and forever indebted.
Unemployment benefits helped so Republicans want to end them. Typically selfish and stupid.
Elections have consequences. Best of luck, y'all.
And those of us who worked through the whole pandemic are still in debt, still making less money, and still fighting to pay our bills, yet we are so essential. We need and deserve our HazardPay.
even middle class people have no idea that people pay bills late (or not at all) is because they are struggling to afford food for their families. but assholes still think they buying rims and shoes
⚠️ The financial industry makes A LOT of money off increased borrowing and late payments. Notice who is against continued pandemic aid to families? Follow the lobbyists.
Funny how the banks always get theirs.
It's almost as like people got into debt because they couldn'tt afford to live a decent life, and they couldn't pay off that debt because of the samething, now suddenly they have extra cash and they are paying bills and being responsible....Folks want to do the right thing.
SaveThe600 because it benefits our economy.
The extra money has mostly subsidized laziness. Recipients would rather drink beer all day instead of finding a job.
It's almost as if paying everyone a living wage is, uh, good for the economy. The federal minimum wage needed to be raised to $15/hr five years ago.
People should not be collecting more money NOT working then actually working PERIOD
Congress isn't interested in data and facts unless it fits their agenda.
I paid off two CCs in June thanks to the extra $$$
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