In Less Than 14 Days, The Government Will Sever Its $600 Per Week Unemployment Lifeline | Zero Hedge
Even scarier than the pandemic for some in this country is the idea that they may have to actually get up off the couch, look for employment once again and earn money the old fashioned way: doing something productive.
It’s now less than 14 days until Americans surviving on $600 per week in extra unemployment benefits could see their “lifelines” come to an end. The program, which was designed to increase unemployment during the pandemic, has accounted for a majority of the Treasury’s $100 million in jobless payments last month and is scheduled to end before August, according to Bloomberg.
At the same time these benefits end, the Fed will continue to pump billions, if not trillions, into capital markets, facilitating an even further spread between the “haves” and the “have nots” in the country. For many Americans, it also means that they may have to dive into the meager savings they have.
Stimulus talks in Washington seem to be stalled at the moment and until they progress, there will be no extension of the benefits. Democrats are calling to extend the program (surprise) and the Trump administration is battling to try and cap the amount that Americans can receive, rightfully claiming that the extra unemployment is a disincentive to return to work.