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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMcConnell Not Sure There Will be Another Coronavirus Relief Bill
Senate Majority Leader Mitch McConnell (R-KY) said Monday that while he thinks the country needs another coronavirus relief package, hes not sure it will happen.
"We do need another bill and I'm hoping that this impasse will end soon, McConnell said at an event in Kentucky, The Hill reported. But he also said that, as of the moment, today, I can't tell you with certainty we're going to reach an agreement, while noting that the coming elections will only make the negotiations more difficult.
Warnings on the lack of fiscal support. Economists have expressed concerns about the withdrawal of federal stimulus spending over the last few weeks, especially the abrupt end in July of the $600 per week payments Congress had provided to the unemployed. Ernie Tedeschi of Evercore ISI said Monday that by his calculations, total unemployment payments have dropped by about $15 billion per week since the enhanced benefits expired. That's the equivalent of almost 4% of GDP, he tweeted.
Analysts at the Peterson Institute for International Economics warned last week that the failure of lawmakers to agree on a new coronavirus relief package that renews expiring programs threatens to undo the stimulus effect of the programs and exacerbate the economic damage from the lockdown. Assuming no further federal assistance is provided, the analysts estimated that the recession would be deeper than otherwise, with a loss of GDP of 4 to 5 percent, and an associated 4 to 5 percent increase in the unemployment rate.
https://www.yahoo.com/news/economists-warn-faltering-stimulus-mcconnell-225035164.html
Aviation Pro
(12,252 posts)I'm not sure there will be a McConnell in the Senate in January, Turtle McTurtlefuckface.
Grokenstein
(5,731 posts)I know evil never really dies, but how long can it continue to fuel this walking rectal tumor?
The Magistrate
(95,270 posts)HotTeaBag
(1,206 posts)They took what The Hill reported and changed the context of what he was saying. I read The Hill article yesterday and thought the headline was more click-bait than anything else, as he is more or less just repeating what he said last week when the talks broke down - that he hopes there will be an agreement because another bill is needed.
"I'm hoping what we're talking about today is not that last tranche that we will make, but as of the moment, today, I can't tell you with certainty we're going to reach an agreement," he said, adding that the talks had been "further complicated" by the November elections.
https://thehill.com/homenews/senate/512314-mcconnell-not-certain-there-will-be-a-fifth-coronavirus-package
pansypoo53219
(21,016 posts)is he sabotaging trump? but i know 'conservatives' can't help themselves.
notinkansas
(1,096 posts)" I can't tell you with certainty we're going to reach an agreement".
The audience should have immediately informed him that his job depends on it.