Millions More Get Pink Slips White House, Allies Still in “No Rush” to Help
Q1 2020 hedge fund letters, conferences and more
2.4 Million More Americans Joined The Unemployment Ranks
WASHINGTON, D.C. – The U.S. economy continued spiraling towards a deep recession as 2.4 million more Americans joined the unemployment ranks this week, bringing the staggering nine-week total of jobless claims to nearly 39 million. Yet, the White House and its allies in Congress are staying the course on its failing economic strategy: supporting multimillion-dollar corporations at all costs while remaining “in no rush” to deliver desperately needed aid for struggling small businesses, workers, and states.
“Another week, another 2.4 million workers swept up in the economic tidal wave that the Trump administration didn’t prepare for and still refuses to confront with any sense of urgency,” said Kyle Herrig, president of Accountable.US. “The Trump administration's failed response to the jobs crisis has resulted in millions of families living in fear of how they’re going to put food on the table and keep a roof over their head.”
No Urgency?
The latest UI numbers are another stark reminder that Washington has not done enough to bring economic relief to average Americans facing incredible uncertainty in the health crisis. Instead, the White House maintains its “wait-and-see” position on another relief package while President Trump privately trashes the idea of extending unemployment benefits. House Minority Leader Kevin McCarthy declared "I don't see the need right now” this week, while Senator McConnell still hasn’t “felt the urgency of acting immediately”. McConnell now claims he’ll get around to discussing another relief package in a “couple weeks.”
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