Begging for another debt funded bailout it seems. Calling it “relief” of course sounds better.
Moreover $50 billion these days is nothing unless you’re one of the ones affected. In covid terms, a 1% contraction of GDP means a 99% survival rate.
Quote:
Economists fear a "double dip" recession is coming soon - CBS News
The U.S. economy is losing steam as COVID-19 cases continue to spread across the country and Congress delays passing another coronavirus relief package to help millions of American workers and small business owners weather the storm. That is raising concerns about a potential contraction in economic growth early next year, which would mark the first "double dip" recession in the U.S. since the early 1980s.
JPMorgan Chase's top economist, Michael Feroli, told clients last week the recent coronavirus surge and renewed restrictions to stop the spread would drive up layoffs and shrink economic activity in the first three months of 2021 by some $50 billion. That translates into an annualized drop in gross domestic product — the total value of products and services in the U.S. — of about 1%. ...”
https://www.cbsnews.com/news/recessi...onomist-fears/
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