Huge spikes in COVID and millions more unemployed means Feds will need to extend CAREAct benefits [View all]

[stopbush]

I saw a Florida restauranteur on TV who reopened three weeks ago, only to have to close down again because most of his staff tested positive for COVID. He said that without a continuation of the CARE aid that he would probably go under.

When it comes to the unemployed, Ds have already passed their bill that extends the weekly Fed benefit of $600 through the end of the year. Rs are putting out signals that they will not agree to this. However, with the virus surging once again, with 1.5-million workers joining the ranks of the unemployed EACH WEEK, and with those who just returned to work finding themselves once again unemployed, I don’t see how the added benefits cannot be extended beyond July 31.

Even before this, the head of the Fed was calling for continued high levels of financial assistance.

Nearly 50-million Americans have lost their jobs, nearly 22-million are on direct unemployment. Do the Rs really think that most of these people will be back to work in six weeks? Do they really think people will believe the economy has reopened when businesses are forced to close down for a second time?

Doing nothing will mean economic collapse. This is really serious. The virus is not going anywhere any time soon. We better start dealing with reality.