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Stimulus Check Update and Stimulus Package Update August 20, 2020

Stimulus Check Update

Stimulus Check Update and Stimulus Package Update August 20, 2020

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Quick Overview

  • US weekly jobless claims were released this morning. New unemployment claims came in at 1.1 million, which is an increase from the previous week. There are currently 28 million Americans receiving unemployment benefits.
  • The House of Representatives does not plan on including the extension of federal unemployment benefits into the Emergency Post Office Bill that they will be voting on this Saturday.
  • Kamala Harris officially accepted her VP Nomination at the Democratic National Convention.
  • President Trump was RAGE tweeting last night in all CAPS.
  • Louis DeJoy will be called into testify before Congress for his actions as PostMaster General.
  • Covid-19 cases are declining in the United States.

Unemployment Updates

According to the Department of Labor, the weekly figures for new unemployment claims were 1.1 million. That is an increase of 135,000 from last week. The unemployment rate currently stands at 10.2% and there are 28 million Americans receiving unemployment benefits.

Economists are predicting a deterioration in the economy because of the discontinuation of the federal unemployment benefits. The Federal Reserve says that the economy is fragile and will require greater support in order to recover.

Stimulus Updates

Unfortunately, stimulus package negotiations are at a stalemate for two more weeks until September 8th.

The House of Representatives will vote on the Post Office Bill this Saturday. This Bill will be the Delivering for America Act and will provide $25 billion of funding to the Post Office, will prohibit any operational cutbacks until after the elections, and would reverse any changes that were implemented.

Democrats are urging their own leaders to throw in the extension of federal unemployment benefits into this bill. But the Democratic leaders are unwilling to include that provision in this Post Office Bill. We are still waiting on the details of the Republican’s new Skinny Bill for $500 billion dollars.

USPS Updates

The PostMaster General, Louis DeJoy, is being called in to testify before Congress. PostMaster General, Louis DeJoy, implemented cutbacks at the Post Office because they are losing billions of dollars.

DeJoy ordered the removal of mail sorting machines, blue mailboxes, and many other infrastructure items, in order to save the Post Office money. DeJoy agreed to stop further cutbacks but the Democrats are upset because DeJoy does not plan on replacing those sorting machines, mailboxes, and infrastructure that have already been removed.

Therefore, the Democrats are saying that the damage has already been done and that it jeopardizes the election because of the expected surge in mail-in voting.

Nancy Pelosi, leader of the Democrats, said:

“we do not intend to let DeJoy off the hook”.

The Trump Administration gave DeJoy the job as PostMaster General and Chuck Schumer, leader of the Democrats in the Senate, said:

“DeJoy should be stamped RETURN TO SENDER and should not be allowed to be the Postmaster General”.

President Trump said that he supports the cutbacks because the Post Office was poorly run and this will make the Post Office run better and that it has got nothing to do with tampering the elections.

Democratic National Convention

  • Kamala Harris officially accepted her VP nomination.
  • Barack Obama was one of the speakers of the night.
  • Obama spoke out against President Trump.

Obama said that:

“President Trump has shown no interest in putting in the work, no interest in using the power of his office to help anyone but himself and his friends, no interest in treating the Presidency as anything but one more reality TV show that he can use to get the attention he craves.”

President Trump responded by RAGE TWEETING and typing in ALL CAPS. President Trump tweeted, in ALL CAPITAL LETTERS, that Obama spied on his campaign and got caught, that Obama didn’t even endorse SLOW JOE, and that even Kamala Harris called Joe Biden a racist and incompetent.

Covid-19 News

  • Covid-19 cases are trending downward.
  • The United States reported 46,436 new cases and 1,356 fatalities on Wednesday.
  • In a poll, conducted by SSRS, President Trump’s approval rating for handling the economy during this Covid-19 situation has been ticking up to 51%.
  • The poll also shows that less and less Americans are willing to take a future Covid-19 vaccine at 56%, which is down from 66% in May.

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