Republicans signal less urgency to pass new stimulus bill after positive jobs report

[durablend]

Source: CNN

Washington (CNN)Republicans argued Friday that the surprising improvement in the jobless rate is evidence more economic stimulus should remain on hold, raising more questions about whether Congress will be able to agree to another recovery package after bipartisan deals led to a historic level of spending to prop up the economy.

GOP leaders have not ruled out more aid -- and acknowledge another bill is probable -- although nowhere in the size or scope Democrats want.

A senior Trump administration official told CNN that after the release of the strong jobs report, Republicans now believe "later in July" will be the "earliest possible window" for the next recovery legislation.

"Republicans generally want to be patient: There's a lot of actual spending left to go out the door; the Fed still has trillions in leverage it can put on the table; and as states reopen, we need to understand what is going on in the economy and what new policies might be called for to best help individuals, families, and businesses. Later in July is the earliest possible window for potential legislative action," the official said. ...

Read more: https://www.cnn.com/2020/06/05/politics/jobs-report-stimulus-congress-pandemic/index.html

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Any wonder the numbers were probably cooked? Doubt you're going to see another $1200 check.

[Newest Reality]

1. Hypothetically,

Fix the numbers and punt that to the Reporkulins as an excuse to hold back vital aid to desperate Americans.

That's kind of like appealing to the national debt made by tax breaks to the rich in order to cripple or end vital programs for our benefit.

THAT'S TOTAL BULLSHIT! Sorry. They are cracking the whip here, as we know, to force the human capital stock back to the slaughterhouse. The risk is that, without more relief, they may have a major collapse on their hands in no time, not that I think they want to prevent it really because there is so much to gain from it in terms of Disaster and Vulture Capitalism, but chaos will ensue. You can bet on it.

We can't even get our, "Well, I almost payed the rent!" checks. That's going to have repercussions like we have never seen as far as the impact on the unrest goes.

[tirebiter]

2. 13% unemployment is positive?

Are you better off now than you were 4 years ago?

[cstanleytech]

3. Well its the best lemonade the Republican could make with the lemons that they

planted and nourished for the past 40+ years now that the crop has been harvested.

[lagomorph777]

4. ...and now we see why they cooked the books.

[LastLiberal in PalmSprings]

5. The GOP wasn't going to do anything anyway. Using the "magic numbers" to justify it is an excuse.

[cloudythescribbler]

6. doubt anyone will be seeing more stimulus checks UNLESS & UNTIL Dems win White House & Senate in Nov

=

[Xipe Totec]

7. Facts don't matter to Pugs. if the numbers had been negative they'd do the same thing.

Numbers up? Great! We don't need a stimulus.

Numbers down? We got to cut the handouts so that people get back to work.

A cure all for what ails you.

[BlueIdaho]

8. Boy, talk about pissin on your own campfire... nt.

[SergeStorms]

9. Employers had to call back employees...

so they could receive the federal PPP loans and they'd be forgiven.

How PPP Loan Forgiveness Works

All or part of the loan you receive under PPP could be forgiven provided you keep all full-time equivalent employees (FTEEs) on payroll—or rehire them by June 30, 2020. Payroll costs must be 75% or more of your approved loan amount. Only 25% of the amount forgiven can be used on non-payroll expenses. The forgiveness won't happen until the end of the eight-week period of employment following receipt of your loan.

There's no mystery why the employment numbers rose so dramatically. Annnnnnnnnd, after that eight week period is over and the loan is forgiven? Guess what's going to happen then, sports fans? That's right, they'll be laid off again.