Is it time to give up on a stimulus deal?
| EDITOR'S NOTE
Hello,
The prospects for a new coronavirus stimulus deal are getting bleaker every day.
Things hit a low point Thursday, when the Senate, led by Republican Majority Leader Mitch McConnell, adjourned for several weeks. The House, led by Democratic Speaker Nancy Pelosi, has largely gone home, although they are on call in case a deal is struck and lawmakers' votes are needed.
The odds of a deal look almost impossible at this point. Congressional Democrats had been seeking a $3 trillion package. Republicans were pushing $1 trillion. When the Democrats offered to come down to $2 trillion, the White House said no thanks. Pelosi said the two sides are "miles apart in our values." McConnell accused her of "throwing spaghetti at the wall to see what sticks."
With that, it looks like the nation is stuck without a new round of relief. Jobs have been coming back at a rapid pace. Yet, five months into this crisis, the unemployment rate is still at a worse point now than it was during the Great Recession. The virus continues to spread, and the economy is still far from getting back to normal. CNBC's Jacob Pramuk breaks down where we are.
Here are other stories the CNBC Politics team has been covering:
You can find more coverage linked below. Thoughts? Email Mike Calia at CNBCPolitics@nbcuni.com.
Have friends or colleagues who might like this newsletter? They can sign up here.
KEY STORIES
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Post a Comment