JUST IN!! SURPRISING NEWS From Congress! NEW $1200 Second Stimulus CHECK In NEXT Stimulus Package!?

This is your Second Stimulus Check update, stimulus package update, and stimulus check 2 update as of Thursday, September 10th. This video covers the second stimulus package, the stimulus update, and the new stimulus package. ✅Join The Power Of Finance Investor Group: https://bit.ly/3aNRzAn

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🗞Article: https://www.cnbc.com/2020/09/10/us-needs-3-trillion-in-fiscal-stimulus-for-coronavirus-hit-economy-economist.html

Milken Institute's chief economist William Lee told CNBC on Wednesday that the US needs $3 trillion in stimulus to support the economy's pandemic-induced downturn. The relief package should be aimed at programs that incentivize business owners to expand remote work opportunities and helping people find secure jobs, he said. He said on CNBC’s Squawk Box that “I think the one thing that everyone...agrees with is we have to get in there and get in big. He explained how “the issue is how do you get big without a permanent increase in fiscal deficit.” He goes on to say that “that's why the programs that are put in place have to be targeted and designed in a way so that they disappear once the economy comes back online again,"

Pandemic-related restrictions enacted earlier this year led to a record 33% plunge in second-quarter US GDP - the worst in American history. As states started to reopen from May onwards, a revival in economic activity was insufficient to undo the damage of the lockdowns. So Lee explained that this is why there needs to be an extended stimulus package, but US policymakers "seem not to be able to hear that message.” He said how “every penny helps and the danger is that these guys will fiddle around to try to redesign the program to really meet some perfectionist criteria that shouldn't be,”. He goes on to urge Congress that “we have to get the money out there and we have to get it out there now. So while Republican-led Senate majority leader Mitch McConnell wants lawmakers to vote on a scaled-down stimulus on Thursday, top economists believe that this bill isn’t large enough to help the economy. Many people including Senate Minority Leader, Chuck Schumer, believe this bill isn't as likely to become law, or even pass the Senate but instead, it is a political messaging tool to contrast Republicans with Democrats ahead of the November 3 election.

Chuck Schumer told CNN's New Day that “the crisis and the pain of the American people in the pandemic get greater and greater and Republicans keep thinking smaller and smaller.” He said however, that “the reason is very simple. There are 20 Republicans in the Senate who want no money. So McConnell had to, in a very cynical exercise, put together something that would check the box but left out so much." Schumer warned that millions of local and state workers could be facing layoffs as a result. He said that the bill McConnell introduced Tuesday would also leave out children who need food assistance, tenants who cannot pay rent, rural areas that need broadband for virtual learning, the restaurant industry and hospitals. But good news is, he said that ”there's a good chance that Republicans will feel the pressure," he said. And “once they see that Democrats are not going to fold to this emaciated bill, which leaves so much out, the pressure will mount on them” and he believes they will ultimately get a bigger bill proposed and passed that addresses the issues of the American people. Schumer explained how when this bill doesn’t pass Senate Republicans who are up for reelection will start their campaign trails and “and will hear from Republican mayors, Republican governors, Republican hotel owners, Republican restaurant owners, 'Do something that helps us.”

#StimulusCheck #StimulusUpdate #StimulusPackage
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Видео JUST IN!! SURPRISING NEWS From Congress! NEW $1200 Second Stimulus CHECK In NEXT Stimulus Package!? канала Michael Wrubel