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Looks like everyone has already forgotten about the CARES act and how it was divided. $266B went to unemployment and $377B to small businesses, of course the l
by throwaway_kufu 5y ago
Looks like everyone has already forgotten about the CARES act and how it was divided.
$266B went to unemployment and $377B to small businesses, of course the law makers were going to end the program and force people back into low paying jobs with no alternative to put food on the table and keep a roof over their head.
Biden said all along he lead the last economic recovery, and he did...on paper. Following 2008 he helped devise a system of removing people from the unemployment numbers once their benefits expired and even though many never returned to work they were swept under the rug and poof 5% unemployment.
That’s what this is, and you can be sure Montana will be championing the policy and highlighting record levels of unemployment, but the reality is those “lucky” enough to get a job will return to a shit job, living paycheck to paycheck, unable to afford a $400 emergency expense (as was the case pre-pandemic) and record numbers of people will be written off as if they never existed.
It sounds like a tinfoil conspiracy theory, but it’s something we saw in 2008 and already seen multiple times policy decisions during the pandemic. Meanwhile the people will continue to point the fingers at one another and debate in forums like this, not realizing or simply unable to accept the suffering in this dystopia. #Dogetothemoon
- imtringued 5y agoInteresting, I suspected as much. Japan has extremely low unemployment but the low inflation (historical rate pre covid) indicates that the jobs are not being paid a high salary. In other words, a lot of the people are still underemployed. I can believe that unemployment numbers are easy to game and that politicians mess with them in a non productive way.
- pessimizer 5y agoBiden didn't come up with the U-3 unemployment rate, just like every administration they used it because it improves even when the economy isn't adding jobs. It's not a serious number. The only number that counts is the prime-age employment rate. https://fred.stlouisfed.org/series/LNS12300060 https://fred.stlouisfed.org/series/LNS12300060 The stupid thing that Biden (and Obama) brag about is having the longest recovery in history. What that really means is the slowest revovery in history. You can't say that the Dems didn't learn their lesson, though - the money spigot is turned on this time, and if they pull it off the economy after the pandemic will be better than the one before it.