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Yo_Mama_Been_Loggin

(107,986 posts)
Sat Jul 25, 2020, 08:31 PM Jul 2020

The GOP could reduce federal unemployment benefits to $200 a week.

That would shed an estimated 3.4 million jobs from the economy.

Republicans are proposing scaling back the $600 weekly federal boost to state unemployment benefits that Congress approved in March to an estimated $200 a week. But the move could shed 3.4 million jobs from the American economy, according to an estimate published Friday from the Economic Policy Institute, a left-leaning think-tank.

The analysis indicated that reducing the government supplement to state benefits would remove a pillar of support for 30 million Americans drawing unemployment checks, and likely compel cutbacks in spending propping up the economy.

It could also shave off 2.5% off GDP growth through next year.

"If we allow the $600 supplement to lapse, another huge constraint on growth will be imposed— collapsing incomes for the tens of millions of U.S. families that had to rely on these benefits in recent months," Josh Bivens, the organization's director of research, wrote in a blog post.

https://www.msn.com/en-us/news/politics/the-gop-could-reduce-federal-unemployment-benefits-to-dollar200-a-week-that-would-shed-an-estimated-34-million-jobs-from-the-economy/ar-BB17brwy?li=BBnb7Kz
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The GOP could reduce federal unemployment benefits to $200 a week. (Original Post) Yo_Mama_Been_Loggin Jul 2020 OP
Feed me Seymour underpants Jul 2020 #1
While corporations are . .. Iliyah Jul 2020 #2
Reading this evening Tink41 Jul 2020 #3
They are the ones spending $285 on lunch with a single colleague... nt EarthFirst Jul 2020 #5
Trickle up money safeinOhio Jul 2020 #4
Dems will not agree to that. They will fight for the $600 because it makes economic sense. stopbush Jul 2020 #6
They are also acting like it comes out of their personal savings acct. 2naSalit Jul 2020 #8
An evicted person could have trouble voting. rickford66 Jul 2020 #7
Very much a factor I would guess. 2naSalit Jul 2020 #9
Outdated state computer records are a problem Cicada Jul 2020 #10

Tink41

(537 posts)
3. Reading this evening
Sat Jul 25, 2020, 09:00 PM
Jul 2020

Proposed to replace 70% of income w 200 a week. My question, how do they know what you make?
My wage at 50 an hour isn't going to be 70% replaced with 200.00. Where does this magic out of the air number come from? So they think people who have lost their jobs only make 285.00 a week? Plus whatever their state benefit is? Who are these people?

stopbush

(24,396 posts)
6. Dems will not agree to that. They will fight for the $600 because it makes economic sense.
Sat Jul 25, 2020, 09:15 PM
Jul 2020

The Rs are acting like this is 100% up to them, when it is the Ds who are in the driver’s seat.

The House already passed their bill that includes the $600. The Rs are fractured. Any bill they produce will need D support to pass, and Ds are not going to roll over on this.

2naSalit

(86,622 posts)
8. They are also acting like it comes out of their personal savings acct.
Sat Jul 25, 2020, 11:23 PM
Jul 2020

when it's our fucking money, they don't pay taxes so it doesn't and never did belong to them.

Cicada

(4,533 posts)
10. Outdated state computer records are a problem
Sun Jul 26, 2020, 06:04 AM
Jul 2020

Republicans have a logical point, unemployment benefits should not pay better than working. So why not continue the old program but cap payments to no more than full pay when laid off? Because state employment records don’t reliably know what full pay is. The $600 amount was determined because it is the average amount needed to get unemployed on average up to full pay before the pandemic. For some it’s too much, for others it is too little. But to max the benefit on an individual basis to no more than full pay requires reprogramming state computerized records. That will take a long time, two months or more, and will likely have initial errors.

So at least initially, until state records are upgraded, we need to just pick a dollar amount. Repubs want $200. Dems want $600. I could live with $400 and a stimulus check every quarter until the economy hits a target for substantial recovery.

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