Was rejected again! Can the late U.S. bailout bill still be the "light at the end of the tunnel"?
Unable to get relief funds, unable to pay rent, being evicted, unable to buy food...This is the current living situation of many Americans.
On December 24, local time, the "bail-out bill" that was expected to land was rejected by US President Trump.
Up to now, the two parties in the United States have not yet negotiated the amount of relief funds.
Many of the relief plans issued by the United States will expire at the end of December, and the tens of millions of Americans who are struggling to survive the epidemic may be in trouble again.
The new round of "bail-out bills" once again "died"
Since the outbreak of the new crown pneumonia epidemic, the United States, as one of the most severely affected countries, has once "shut down" its economy.
Under the epidemic, factories and enterprises closed on a large scale, and a large number of workers were unemployed... The US government proposed the "Bailout Act" to ease the economic pressure on small and medium-sized enterprises and the unemployed.
The promulgation of the "Bailout Act" was supposed to provide financial support for the enterprises and people affected by the epidemic to help them survive the "cold winter", but it was counterproductive. This bill became a tool for American politicians to fight partisanship.
Late on the night of December 21, local time, the US Congress finally passed a new round of rescue bills worth 900 billion US dollars after months of "fighting".
△U.S. President Trump
In order to get this "bail-out bill" to the ground as soon as possible, the White House staff had always stated that once the bill appeared on President Trump's desk, he would immediately sign it.
Just when most people believed that the implementation of the "Bail Out Act" was a foregone conclusion, Trump suddenly "changed his mind" and beat the bill back.
He said on social media that the bill was a "disgrace" and urged US congressmen to amend the content of the law. He asked congressmen to increase the amount of relief from a "ridiculously low" $600 to $2,000, or $4,000 for the couple.
△Pelosi, Democratic leader of the House of Representatives
Subsequently, the Democratic leader of the U.S. House of Representatives, Pelosi, expressed support for Trump’s decision, but the proposal was opposed by Republican members. House Republican leader McCarthy said that the amount of $2,000 was too high.
In this case, the bail-out bill has to be "rolled over and over again."
The nation is in urgent need of relief funds: please help us
On December 24, local time, the "Washington Post" published an article saying that because of the $900 billion "bail-out bill" pending, millions of Americans are about to lose unemployment assistance, or lose them after several years of establishment Small business up.
They made a simple request to Trump and Congress: Please help us.
△The American people call for a relief fund of $600
American woman Amanda is the mother of two children, and her unemployment benefit is expected to run out on Saturday (26th).
She said: "We have cut expenses drastically. I don't know what we are going to do next. This is not a game. People's lives are at stake."
Tony, a 31-year-old American man, was diagnosed with new coronary pneumonia in March this year. He also lost his job as a result. At present, his family is barely supported by his wife's work in the Illinois state government. They are in arrears with rent and electricity.
Bowens said: "It feels like everyone is playing politics with people's lives. The $600 check is not a lot, but it should at least be issued in time."
△ U.S. Department of Labor data shows that the recent recovery of the U.S. labor market is faltering
According to data from the US Department of Labor and the Financial Association, as of the week of December 19, the number of people who applied for unemployment benefits for the first time was 803,000; as of the week of December 12, the number of consecutive applications for unemployment benefits was 5.337 million.
△American people line up to apply for unemployment benefits
By the end of December, many of the bailout clauses introduced in the spring will expire. At that time, the "bailout cliff" will have a great impact on the US economy and the American people.
The Epidemic Unemployment Assistance Program (PUA) for freelancers and contract workers is about to expire, affecting more than 7 million people; the Epidemic Emergency Unemployment Assistance Program (PEUC) for Americans who have been unemployed for at least 6 months is also about to expire. Five million people will lose relief.
In addition, the Federal Suspended Eviction Order, which aims to protect tenants from being driven out by landlords, will also expire at the end of December.
Millions of Americans may face the fate of being deported from their homes. This is not only a humanitarian disaster, but may also exacerbate the new crown pneumonia epidemic and make the US anti-epidemic work more difficult.
In addition, graceful relief clauses for student loan repayment, tax incentives for more than 125,000 companies without layoffs, and a $150 billion aid program for state and local governments will also expire at the end of December.
At that time, the American people's studies, employment, housing, and American public service capabilities will all be further impacted.
△U.S. household spending fell in November for the first time in seven months
Data from the US Department of Commerce shows that several key areas in the United States are generally weak: car sales fell 1.7% in November, electronic product sales fell 3.5%, and apparel sales fell 6.8%.
Moreover, as many cities and states have implemented new restrictions, restaurants and bars have also suffered heavy losses, and sales fell 4% in November.
CNN and other liberal media have recently accused President Trump of playing golf at Sea Lake Manor at such a critical time.
Is the "Bail Out Act" really "light at the end of the tunnel"?
Since the introduction of the "Bailout Act" took too long, many economists believe that the bill came too late and was not strong enough, so it is difficult to stimulate economic recovery quickly.
△Associated Press: For some small businesses, the "Bailout Act" came too late
Since the spring of this year, due to restrictions on business hours or diners during the epidemic, and because Americans are unwilling to eat out, many shops have failed to make it through the "Bailout Act" and have closed down.
According to estimates by the American Restaurant Association, approximately 17% of restaurants in the United States are closed indefinitely or permanently, reaching 110,000.
The director of operations of a hotel consulting company in Maryland, USA, said: "We have lost many restaurants that didn't have to go bankrupt. They can't see the light at the end of the tunnel."
Behind the collapse of many small and medium enterprises is the loss of tens of thousands of jobs.
According to statistics, recruitment activities in November have slowed down for five consecutive months, and the number of jobs added in November in the United States is the smallest since April.
The unemployment of a large number of people has led to a decline in their spending power, and the decline in spending power has made many industries difficult to survive, and the US economy has therefore fallen into a vicious circle.
In addition, according to the US Consumer News and Business Channel (CNBC), many economists believe that the "Bailout Act" does not include assistance to various state and local governments. Considering that these states and local governments have a large budget gap, There are new crises hidden in the future.
The "Bailout Act" is highly expected as a "heart booster" for the US economy under the epidemic, but the party's interests first and endless juggling have delayed the introduction of the "Bailout Act" and caused millions of Americans to survive. Struggling online.
At present, the specific content of the 5,593 page "Bail Out Act" has not yet been announced, and its enforcement is still unclear.
The new crown epidemic in the United States is still intensifying. According to data from Johns Hopkins University, as of 16:10 on December 25, US Eastern Time, the number of confirmed cases of new crown pneumonia in the United States exceeded 18.72 million, reaching 18,726,960.
From this point of view, whether the "Bail Out Act" can become the "light at the end of the tunnel" still needs to be drawn with a question mark.