Federal Unemployment set to expire July 31? (3 Viewers)

[Mr. Blue Sky]

Trumps Exec. Order calls for 400$ extra in unemployment benefits.

Not really.


He said the Fed govt will pay 75% of the addl $400 per week, and that the states will pay 25%.. So he basically extended it by $300 per week.. But how can he legislate that exactly ? And how can states come up with he money when their Unemployment coffers, in most states, are almost dried up? Sounds like a huge cluster.

 

[literature]

Looking like maybe this won’t actually be broadly implemented based on states having to cover 25%. This is why a bill from congress mattered-individual states needed money to refill their unemployment funds. It’s a catch-22 “poison pill” style setup that may preclude states, including Louisiana, from actually offering the bonus.

 

[HoustonGold]

Not to get to political but Congress works for us. If they can’t put their personal differences aside for the greater good than they need to go this November. Vote them out. Let them know how it feels to be laid off. I can’t believe our elected officials are this selfish and immature.

 

[Saint by the Bay]

Not to get to political but Congress works for us. If they can’t put their personal differences aside for the greater good than they need to go this November. Vote them out. Let them know how it feels to be laid off. I can’t believe our elected officials are this selfish and immature.

The problem is 85% of this country thinks their side is good and the problem is the other side. The politicians only care what their own voters think and their own voters are now complete devotees. They don't work for us anymore, and they haven't for quite some time, because they know the only people that will be against them are the people who were already against them.

 

[Goatman Saint]

Looking like maybe this won’t actually be broadly implemented based on states having to cover 25%. This is why a bill from congress mattered-individual states needed money to refill their unemployment funds. It’s a catch-22 “poison pill” style setup that may preclude states, including Louisiana, from actually offering the bonus.

This is exactly what the whole thing is. The no payment on student loan is ok, but the loans are continuing to accrue interest. The deferring the tax effective August 1 is great, but notice the word defer. That means when taxes are due, Surprise!
This is nothing more than another publicity stunt in all honesty. States can’t afford the 25%, student loans still increasing in amount and they are almost impossible to skip payments on, and people will get a January surprise.

 

[bclemms]

Just dunno how any rational person thought we'd be back to business as usual before a safe and effective vaccine was out. I also realize we're not dealing with rational people.

Back when we started the shutdown the V shaped recovery was consensus across Wall Street and more than half of registered voters. It has been massive denial on top of the misinformation campaign and conspiracies.

Any hope I had was shattered with the LIBERATE tweets. I was hoping we would use the late spring and summer as a backdrop to all but eliminate the virus with testing available in mass to anyone that wanted it. When those LIBERATE tweets hit it sent a very clear fork it message.

 

[efil4stnias]

Back when we started the shutdown the V shaped recovery was consensus across Wall Street and more than half of registered voters. It has been massive denial on top of the misinformation campaign and conspiracies.

Any hope I had was shattered with the LIBERATE tweets. I was hoping we would use the late spring and summer as a backdrop to all but eliminate the virus with testing available in mass to anyone that wanted it. When those LIBERATE tweets hit it sent a very clear fork it message.

I just watched Larry Kudlow speak on CNN.

To begin, he is still firmly believing we are in V shaped recovery.

That set the stage for the next 10 min of absolute insanity. He was throwing out numbers regarding unemployment that were 700, 800 and 1200. First the 1200 was to payroll tax deferral. But he didn't say that until last 3 min of interview.

Now if the feds put up 300 and a state puts up 100, on top of average of 300/wk... That's 700. He REPEATEDLY SAID 800. THIS DUDE CANT ADD.
Got cornered on several parts and had no answer other than his opinion on what the President meant.

To be clear... If a state DOES NOT CONTRIBUTE THE 100...FEDS WILL NOT CONTRIBUTE 300.
This was done to make broke states (read blue states) carry the blame if they can't meet the 100

 

[literature]

To be clear... If a state DOES NOT CONTRIBUTE THE 100...FEDS WILL NOT CONTRIBUTE 300.

It turns out it’s much worse than that. The state actually has to pay all $400 dollars, and then tell the federal government, who will reimburse them for $300 of the spent dollars.

Aditionally, the money is to be paid from a FEMA fund that can be used until 45 billion is spent from it OR december 6th, whichever comes first. This means if everyone who was getting the $600 gets this, the fund won’t be able to pay out in about 5 weeks.

This actually hurts red states more-Louisiana probably can’t pay for this but California can. Did he not realize this?

 

[efil4stnias]

It turns out it’s much worse than that. The state actually has to pay all $400 dollars, and then tell the federal government, who will reimburse them for $300 of the spent dollars.

Aditionally, the money is to be paid from a FEMA fund that can be used until 45 billion is spent from it OR december 6th, whichever comes first. This means if everyone who was getting the $600 gets this, the fund won’t be able to pay out in about 5 weeks.

This actually hurts red states more-Louisiana probably can’t pay for this but California can. Did he not realize this?

It's absolute insanity. I don't know any other way to explain it.

 

[Mr. Blue Sky]

I just watched Larry Kudlow speak on CNN.

To begin, he is still firmly believing we are in V shaped recovery.

That set the stage for the next 10 min of absolute insanity. He was throwing out numbers regarding unemployment that were 700, 800 and 1200. First the 1200 was to payroll tax deferral. But he didn't say that until last 3 min of interview.

Now if the feds put up 300 and a state puts up 100, on top of average of 300/wk... That's 700. He REPEATEDLY SAID 800. THIS DUDE CANT ADD.
Got cornered on several parts and had no answer other than his opinion on what the President meant.

To be clear... If a state DOES NOT CONTRIBUTE THE 100...FEDS WILL NOT CONTRIBUTE 300.
This was done to make broke states (read blue states) carry the blame if they can't meet the 100

Yeah, Kudlow’s been on his own planet for a few months now, along with a few other ‘leaders’ who shall remain nameless so as to avoid getting banished to the Politics board.


Nothing will change, this will bankrupt millions of people, and with all the shenanigans going on with the postal service re vote by mail- we can look forward to more of the same in 2021 and beyond.

 

[gboudx]

>>Aditionally, the money is to be paid from a FEMA fund that can be used until 45 billion is spent from it

When I first read about the FEMA funds, my first thought is that we’re approaching the peak of hurricane season, with new revised estimates from NHC of more storms and more major storms. Will this take money from FEMA that may be needed for natural disasters?

 

[literature]

Will this take money from FEMA that may be needed for natural disasters?

Yes. Then again, even if the money wasn’t taken from FEMA, a natural disaster might simply be ignored like with Maria. So in that case it wouldn’t matter that they don’t have the money.

 

[Eeyore]

$45 billion can buy a lot of paper towels.

 

[gboudx]

Yes. Then again, even if the money wasn’t taken from FEMA, a natural disaster might simply be ignored like with Maria. So in that case it wouldn’t matter that they don’t have the money.

Only if the hurricane hits a non-US area like Puerto Rico.
#sarcasm

 

[EGLSShin]

Im gonna wait to see what Bel Edwards has to say about all of this. As far as twitter, he has not spoken about the Exec order yet.