Stimulus Update $1200 $2400 Unemployment Work Bonus $1,200 Cares act out PPP loans end, White House?
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????Updates for 6-28-2020 on the next round of stimulus checks, $600/week, and more.
This is your Stimulus Check, Second Stimulus Check and Stimulus Package update of June 28, 2020.
Cares Act has run its course. White House sees the urgency. PPP Loans are running out. While the Heros Acto was ignored.
This week I will call pressure week.
This is a Critical week. How CUT unemployment will Demolish entire Cities.
71% of House market crash could collapse on itself.
3 Different Bills are Being Debated. 4 Days Left.
What Senators to Listen too and why?
First developments 3 Stimulus plans Congress is debating that could/should put extra cash into your bank account.
Congress is expected debate Phase 4 stimulus package now or commit political Suicide debate.
Three plans under consideration are
Extra unemployment payments, (which our community has made many commits about)
and hiring bonuses.
UNEMPLOYMENT: FOR THE DEBATE:
Let’s Take Las Vegas as an example broad MACRO level.
million people come to Vegas.
$ Billion. We’re one Souvenir per tourist away from 6 0 baby. $1400 per Visitor.
Just Shot of 5 Billion a month. Las Vegas is million people. 29% unemployed.
51st state absolutely in last place. percent That’s
550,000 people unemployed Table for 4 one is out of work. That is the unemployment during the Depression peak of
Do the Math: $600 boost, and $400 Average $1,000 per Week. weeks in month.
Week is $550,000,000. $2,365,000,000
No Tourist $5 Billion a month.
550,000 homes not able to make a payment.
767,954 Units Clark County 71% Won’t be able to Pay Rent average $400 in Bank.
Stimulus Check. This is one month Rent. Median 2 bedroom Rent $1255 forget food, electricity, internet, water, gas, garbage.
Also he state “Stimulus Package” As you can see a Check doesn’t cut it.
Treasury Secretary Steven Mnuchin opened the door to second round earlier in the month.
Larry Kudlow “people who lost their jobs and are most in need”
Republicans are in a war with themselves. If you look past the Targeting. Some Class 11 is up for Election 2021 Class 111 is 2023 Class 1 2025.
Class 2 needs something to get reelected. Class 1 is 4 years out when the US starts asking for this money back.
Unemployment is LOOKing at JULY 26th Deadline. Based on Filing on Website.
28 days left of assistance 4 weeks.
Remember the phases of stimulus we've had to Date:
Phase 1: Test Funding
Phase 2: Health and Hospitals Funding
Phase 3: CARES Act ($1,200 Stimulus Checks, PPP, EIDL)
Phase : More PPP, EIDL Money for Small Biz
Phase 4: Heroes Act (Pending an extra $1,200). AKA Cares 3 or Cares 2.
PLUS Infrastructure bill (separate from these phases).
This is my take on whether there will be a second stimulus check.
First, we know that the Federal Reserve and popular economists make it very clear that now is NOT the time to focus on the debt or the Fed's Balance sheet.
The House of Representatives is pushing for something immediately.
Senate has put the breaks on and is accessing the Jobs and the reopening to target Stimulus funding.
Now is the time to make sure the economy is not permanently scarred. Fund Managers predict a 15 % decline in the Stock Market without Stimulus.
Well to see if they'll actually be another round of stimulus - another stimulus check - it's helpful to see how the CARES Act #1 was passed. When we understand how the last CARES Act was passed, we'll know a lot more about the likelihood of the HEROES Act (HR 6800) passing - it'll help us weed out the noise of political screaming between Mitch McConnell and Nancy Pelosi.
Mitch McConnell and Mitt Romney among other long time Senate Republican's are stalling the Stimulus package.
We'll also look at the Emergency Money for the People's Act (EMPA), which offered $2,000 per month.
Unemployment coverage is 28 a day away from being an American Crisis.
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