Recession/Depression
It’s worth noting for the record that negotiations for economic relief for the recession or depression caused by the pandemic lockdowns are still stuck,[1] with little prospect for a breakthrough:[2]
source on threadreaderapp.com
Archived at 2020-10-15 07:31:24
Jeff Stein
13 Oct, 2 tweets, 1 min read
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A reminder that no stimulus deal at all means:
– Tens of thousands of airline workers get laid off
– No federal supplement unemployment benefits for +20 million ppl
– Severe cuts/layoffs for restaurant, hotel workers
– Checks 2.0 don’t go out to millions facing pay cuts
Pelosi insisted today to Wolf Blitzer that a deal would get done, but my sources and the sources of most reporters tracking talks are very bearish on anything happening before Nov. 3. What is Dems’ leverage after the election?[3]
Millions of people are now in poverty[4] because elites really don’t have a stake in keeping them out of poverty.[5]
Jeff Stein, [Twitter thread], Thread Reader App, October 13, 2020, https://threadreaderapp.com/thread/1316133318027608064.html
Jason DeParle, “8 Million Have Slipped Into Poverty Since May as Federal Aid Has Dried Up,” New York Times, October 15, 2020, https://www.nytimes.com/2020/10/15/us/politics/federal-aid-poverty-levels.html
- [1]Jason DeParle, “8 Million Have Slipped Into Poverty Since May as Federal Aid Has Dried Up,” New York Times, October 15, 2020, https://www.nytimes.com/2020/10/15/us/politics/federal-aid-poverty-levels.html↩
- [2]Jeff Stein, [Twitter thread], Thread Reader App, October 13, 2020, https://threadreaderapp.com/thread/1316133318027608064.html↩
- [3]Jeff Stein, [Twitter thread], Thread Reader App, October 13, 2020, https://threadreaderapp.com/thread/1316133318027608064.html↩
- [4]Jason DeParle, “8 Million Have Slipped Into Poverty Since May as Federal Aid Has Dried Up,” New York Times, October 15, 2020, https://www.nytimes.com/2020/10/15/us/politics/federal-aid-poverty-levels.html↩
- [5]David Benfell, “The mysterious expectation that elites give a damn,” Not Housebroken, October 7, 2020, https://disunitedstates.org/2020/08/01/the-mysterious-expectation-that-elites-give-a-damn/↩