The “official” unemployment rate fell to 8.4% in August as businesses continued emerging from broad shutdowns imposed early in the coronavirus pandemic, the Bureau of Labor Statistics reported earlier this month. But CNBC explains Why the real unemployment rate is likely over 11%: That’s the lowest rate since unemployment exploded in April, to levels unseen … Read more
James Carville was right in 1992, and he still is today: “It’s the economy, stupid.” After Democrats in the House passed the HEROES Act back in May, the “Grim Reaper” of the Senate legislative graveyard announced, “I don’t think we have yet felt the urgency of acting immediately. That time could develop, but I don’t think it … Read more
Last week, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin agreed to pursue a “clean” continuing resolution (CR) for the federal budget to avoid a government shutdown at the end of the month. The length of the CR and other “tweaks to spending provisions and temporary extensions of expiring programs, which often ride on a … Read more
I warned you yesterday that “It only takes one member to object to a voice vote to force a recorded vote.” I previously predicted that “Oh, you know someone is going to force a recorded vote.” It only takes one asshole: Libertarian Republican from Kentucky, Rep. Thomas Massie, confirmed that he will ask for a roll-call … Read more
This is what putting the U.S. economy into a “lockdown” to fight the spread of the coronavirus pandemic looks like in a graph — this is historic and previously unimaginable. The AP reports, 3.3 million seek US jobless aid, nearly 5 times earlier high: Nearly 3.3 million Americans applied for unemployment benefits last week — … Read more