Because of job losses between February and May of this year, 5.4 million laid-off workers became uninsured. These recent increases in the number of uninsured adults are 39% higher than any annual increase ever recorded. The highest previous increase took place over the one-year period from 2008 to 2009, when 3.9 million nonelderly adults became uninsured.These record-breaking increases in the number of uninsured have taken place during the country’s worst public-health crisis in more than a century and the sharpest and deepest economic downturn since World War II. Nevertheless, no federal COVID-19 legislation signed into law has attempted to restore or preserve comprehensive health insurance. Now is the time to fill that gap by including protections for comprehensive health insurance in the next COVID-19 bill.
Joe Biden plans to unveil a proposal Thursday to spend $700 billion on American products and research, challenging President Trump’s “America First” agenda with a competing brand of economic nationalism and setting the stage for an election-year showdown over the country’s financial future.
The Biden campaign says his plan for manufacturing and innovation will bring back jobs lost this year and create at least 5 million more with sweeping investments in domestic technology; reduce dependence on foreign countries to supply critical goods; and implement trade and tax policies that empower U.S. workers.
“Biden does not accept the defeatist view that the forces of automation and globalization render us helpless to retain well-paid union jobs and create more of them here in America,” says a 15-page summary. “U.S. manufacturing was the Arsenal of Democracy in World War II and must be part of the Arsenal of American Prosperity today, helping fuel an economic recovery for working families.”
Online donors poured a record $392 million into campaigns and causes via ActBlue in June, a sign of surging activism and political enthusiasm on the left that smashed the previous monthly high, from just before the 2018 election, by a whopping 50 percent.
The eye-popping numbers on ActBlue, the favored digital fundraising platform for the Democratic Party as well as a growing host of left-leaning nonprofits, make for a startling split-screen next to Great Depression-level unemployment and spiking coronavirus cases across the country.
It’s a cash cliff millions of Americans face this summer as the emergency benefits — which lifted U.S. consumer incomes by a record 10.8% in April — expire. The loss of that safety net looms in the weeks ahead, well before a sustained recovery is likely to take hold from the sudden and deep recession brought on by the novel coronavirus. Personal income dropped 4.2% in May, data Friday showed.
The $600 supplement Congress added to weekly unemployment benefits is due to expire July 31.
Without new support, recipients face a substantial loss of income – particularly devastating for those like the Ramirez family who worked in hard-hit sectors like hospitality where new jobs are scarce. During high unemployment and a still-raging pandemic, the end of enhanced jobless benefits could drag on consumer spending, set off a wave of missed rent and mortgage payments and translate to a slower recovery, economists said.