Your second stimulus check update, stimulus package update, news update, and stimulus check 2 update for Friday November 20th. Everything you need to know in 3 minutes!
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The CEO of Walmart Doug McMillion has some words to share on the status of the next stimulus bill. In an interview he said the pandemic has had a disproportionately negative result on low income earners who were much more likely to lose their job or have hours cut.
This is what economists have been referring to as a K shaped recovery where more wealthy individuals are recovering or even surpassing pre-pandemic levels of wealth and many low income earners are much worse off now than they were in March.
Now this might seem obvious to you like we’ll yeah we’re worse off but you have to remember what you see if your reality. Many of these ulta rich folks are only surrounded by others who are ultra rich and doing just fine.
They might know many people are struggling but they don’t actually feel it. They don’t feel the desperation of the 46% of Americans who have had trouble paying their bills since March, or the 25% of adults who had someone in their house lose a job.
Now I will say the Walmart CEO’s message is one for the people but we all are aware if we receive more stimulus a lot of that money will be going to Walmart stores so it’s easy to see another reason why McMillion wants this to happen.
In fact, Walmart has shown a increase in same store sales in their second quarter. This translates to billions of dollars in sales. This of course has since gone down now that most of the stimulus money has been spent.
A new study has shown that 12 million people will lose their unemployment benefits just after Christmas unless a new plan is put in place.
December 26th will be the last day of benefits for 12 million people. That’s only 36 days from today.
As terrible as this news is, the only silver living is that there is a major deadline with the scary numbers. What I’ve learned in my coverage of Congress is they tend to be 10 times more productive when there is a big scary deadline.
There was some talk yesterday that some progress has been made both on the upcoming government spending bill as well as another covid relief bill.
Senator Schumer said quote "For the first time, we're having some productive conversations in a while, because Leader McConnell has now said he will sit down and talk,"
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