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Economy

VIRUS UPDATE: 5 Million More File for Unemployment, 22 MILLION Jobs Disappear in ONE MONTH

posted by Hannity Staff - 4.16.20

More than 5 million Americans filed for unemployment last week as the Coronavirus continues to cripple the economy; dragging the toll to 22 million jobs gone in just one month.

“Around 5 million more people filed for first-time unemployment claims last week, as the job market in every sector of the economy continues to be devastated by the coronavirus pandemic,” reports NBC News. “The staggering weekly number comes as President Donald Trump weighs plans to pull back on the social distancing measures that have shuttered businesses across the country, and reopen parts of the economy as soon as May 1.”

“State-mandated lockdowns have choked vast portions of the once-booming economy, kicking a total of 22 million people out of work and launching the nation into the worst crisis since the Great Depression,” adds the website.

“The job losses are historic,” economist Julia Coronado said. “It means that we are going to be in for a double-digit unemployment rate.”

“The labor market is obviously very, very important, and has a high correlation with what is going on in the economy,” Jay Bryson, the acting chief economist at Wells Fargo, told NBC News. “It is showing us what I think we all know, that the economy is falling off a cliff at an unprecedented rate.”

Read the full report at NBC News.

AOC: Senate’s Coronavirus Stimulus Package is ‘Historic Corporate Giveaway’

posted by Hannity Staff - 3.26.20

Controversial Congresswoman Alexandria Ocasio-Cortez ripped the Senate’s Coronavirus stimulus package Wednesday afternoon; describing the proposal as a “historic corporate giveaway” at the expense of American workers.

“Just a reminder that there is absolutely no good reason why Senate Republicans are tying a historic corporate giveaway to getting relief money in the hands of families. They could just authorize sending checks to families today, right now, & deal with the rest. But they refuse,” posted Ocasio-Cortez on social media.

Members of the ‘Squad’ demanded a series of far-left proposals be included in the Congressional relief package to help Coronavirus victims this week; asking for the cancellation of student debt, banning of evictions, and prohibition of “executive bonuses” in the plan.

“Any rescue package must:
1) Cancel student debt
2) Fund losses for small businesses and local governments
3) Ban evictions and foreclosures
4) Ban stock buybacks and executive bonuses
We need a groundswell of support for these critical measures!” posted Omar on social media.

“The developments of this Senate relief bill are concerning. We are hearing lots of vague statements, but not a single member of Congress has seen actual bill text. It seems to give a *HALF TRILLION DOLLARS* away to big corporations, w/ few worker protections. Half a trillion,” added Rep. Ocasio-Cortez.

The White House and leaders in the US Senate agreed to a $2 trillion stimulus package to help businesses impacted by the Coronavirus Wednesday; unveiling a sweeping bipartisan plan to shore-up the economy and protect American workers.

“The White House and Senate leaders of both parties announced agreement early Wednesday on an unprecedented $2 trillion emergency bill to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic,” reports the Associated Press.

“To the American people, we say, big help, quick help is on the way,” said Senate Minority Leader Chuck Schumer.

The proposal now heads to the Democrat-controlled House of Representatives.

“House Democrats will now review the final provisions and legislative text of the agreement to determine a course of action,” said Speaker Pelosi.

“After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic,” said Majority Leader Mitch McConnell. “It will rush new resources onto the front lines of our nation’s health care fight. And it will inject trillions of dollars of cash into the economy as fast as possible to help Americans workers, families, small businesses and industries make it through this disruption and emerge on the other side ready to soar.”

Read the full report here.

Source: Associated Press

BACK TO WORK? Trump Says Decision on US Economy, Coronavirus ‘Will Be Made Shortly’

posted by Hannity Staff - 4.13.20

President Trump weighed-in Monday on his impending decision to re-open the US economy safely during the Coronavirus pandemic; saying he will weigh input from state governors, financial, and health experts.

“For the purpose of creating conflict and confusion, some in the Fake News Media are saying that it is the Governors decision to open up the states, not that of the President of the United States & the Federal Government. Let it be fully understood that this is incorrect,” posted Trump on social media.

“It is the decision of the President, and for many good reasons. With that being said, the Administration and I are working closely with the Governors, and this will continue. A decision by me, in conjunction with the Governors and input from others, will be made shortly!” added the President.

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