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Stimulus Check Update and Stimulus Package Update August 31, 2020

Stimulus Check Update

Stimulus Check Update and Stimulus Package Update August 31, 2020

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Poll Results So Far

Thank you to everyone who participated in our poll. Over 10,000 of you voted. 61 percent of the people voted that their financial situation was bad or extremely bad. 24% of the people voted that their financial situation was okay. 4.9% of the people voted that their situation was very good.

Quick Overview

  • The Republicans are compromising on the stimulus package negotiations and are willing to increase their budget. The Democrats have compromised and are willing to spend less.
  • We are waiting on the Senators to come back from vacation and get back to work next week. Please note, that the Senators have been on vacation for 24 days. And they still have seven more days of vacation to go.
  • Six States began issuing the payment for the executive order on the federal unemployment money.
  • Covid-19 cases are in the decline in the United States but it is only a moderate decline.

Financial Situation Poll Updates

We ran a poll asking you about your financial situation because the politicians claim that the next stimulus package will depend on the health of the consumer and the state of the economy. Just so you know, we ran this same poll 3 months ago.

Three months ago, 26% of the people voted that their financial situation was bad. Now, that figure has increased to 36%. Three months ago, 13% of the people voted that their financial situation was extremely bad. That has now increased to 25%. Therefore, three months ago, 39% of the people voted that their financial situation was bad or extremely bad. Now, that has increased to 61%.

This worsening sentiment is without a doubt due to the expiration of the federal unemployment benefits, the PPP money for small businesses and the self-employed being used up, the stimulus checks being used, and the expiration of renter protections.

Stimulus Check and Stimulus Package Updates

Regarding the current state of the stimulus checks and the stimulus package, the Republicans are now willing to increase their budget to $1.3 trillion dollars, this is up from their initial offer of $1 trillion dollars.

The Democrats have compromised down from $3.4 trillion to $2.4 trillion and now down to $2.2 trillion. The Republicans are at $1.3 and the Democrats at $2.2. White House Chief of Staff Mark Meadows said on Sunday that the Republicans compromised and brought their budget up to $1.3 trillion.

Meadows said that Nancy Pelosi, Leader of the Democrats in the House of Representatives, would not give him the details on what the Democrats wanted to spend the $2.2 trillion dollars on in their version of the stimulus package.

Meadows said:

“I had a conversation with Pelosi and even on her $2.2 trillion counter offer, she can’t tell the American people, nor me, what is in that”.

According to Mark Meadows, Meadows asked Pelosi

“what does the $2.2 trillion represent?”.

Meadows said that Pelosi responded with:

“I’m not going to tell you.”

Meadows said that the Republican’s $1.3 trillion dollar stimulus package includes funding for many programs that the Democrats are asking for. Meadows is calling out Pelosi and saying that Pelosi would rather have nothing and harm the American people by playing politics instead of accepting the $1.3 trillion dollar Republican stimulus package.

Please note that Meadows is singling out Nancy Pelosi because even when the politicians were voting on the Post Office Bill, the Democrats were calling on Nancy Pelosi to add on the provision to extend unemployment benefits and other items to the Post Office Bill.

Pelosi is the leader of the House of Representatives and refused. Pelosi refuses because she says that the Republicans offer falls short of what Americans need.

Pelosi said:

“This is a debate about values and common sense, not dollars and cents. We hope Republicans will come to the table and accept our offer to save the lives and livelihoods of the American People”.

If a large comprehensive bill cannot be agreed upon at the moment, then the Republicans will be trying to push forward smaller bills known as standalone bills or skinny bills that both parties agree on. We’re waiting on the details of the Republican’s Skinny Bill this week.

President Trump’s Executive Orders

As of Friday, six states have started to distribute the Federal unemployment money. These states include:

  • Arizona
  • Louisiana
  • Missouri
  • Montana
  • Tennessee
  • Texas

California says that they will begin processing their payments next week. New York is working on updating their computer systems to process these payments and no reliable timeline has been established at the moment. Illinois is still undergoing the application process and should be approved shortly. Florida was approved by FEMA for the funds on Saturday. The governor says that they are working to get this money distributed as quickly as possible but it could take over a week.

The current expectation is for this money to last for a minimum of 3 weeks and can last for as long as 6 weeks. It just depends on when the funds are depleted.

Covid-19 News

  • Covid-19 cases continue on the decline, but the decline is very moderate. We reported 33,452 cases on Sunday.
  • The seven-day rolling average is 42,100 new cases according to the John Hopkins University.
  • As of this morning the United States has now reported over 6,000,000 Covid-19 cases and we have approximately 183,000 Covid-19 related fatalities.
  • Global confirmed cases have now exceeded 25 million with global fatalities at 845,000.

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