26 Million Unemployed, Muscling the Postal Service
Friday, April 24, 2020
Viral News: Another 4.4 million Americans filed for unemployment insurance last week, bringing the total to more than 26 million who have lost their jobs since the coronavirus pandemic caused the shutdown of the US economy.
Some analysts say the unemployment rate is headed toward the 25 percent peak of the Great Depression. Not only are people unemployed, they are jammed up on line and in line to file their insurance claim. And an estimated 30 percent of people who’ve succeeded in filing a claim have yet to receive a check.
The loss of jobs also means the loss of tax revenue for state and local governments, which are quickly getting into serious financial trouble. Governors and mayors are beginning to call for a bailout, but Sen. Mitch McConnell, who presided over one of the richest tax cuts of all time benefitting corporations and the wealthy, says, “let them go broke.”
McConnell said, “There’s not going to be any desire on the Republican side to bail out state pensions by borrowing money from future generations.”
The Senate leader told conservative radio host Hugh Hewitt, “I would certainly be in favor of allowing states to use the bankruptcy route. It saves some cities. And there’s no good reason for it not to be available.”
Bankruptcy, of course, means that states would be excused from paying their bills, further damaging businesses already hurt by the coronavirus shutdown, probably causing even more unemployment and loss of tax income.
The tough talking McConnell called financial help for the states a “blue state” bailout, adhering to political divisions during the crisis. In truth, the blue states bail out the red states every year. McConnell represents a state that in normal times lives off the fat of the federal government, ranking No. 8 among the states for dependency on federal help. Thirty-eight percent of the state’s budget is federal money.
New York, by contrast, subsidizes states like Kentucky. According to an analysis of 2017 figures by the Rockefeller Institute of Government, New York, gets back 86 cents for every dollar it sends to the feds. Kentucky gets back $2.35.
The Stat Board: President Trump said at the opening of his briefing yesterday that he had spoken to “numerous” world leaders and “They are saying we’re leading the way. We’re leading the way in different ways.”
The US is leading the world with the most coronavirus cases and deaths. This morning the US has 869,172 cases and 49,963 deaths—3,178 in the past 24 hours.
New York City has had 16,388 coronavirus deaths and the last 24 hours were a setback from the previous day. The city lost 1,314 patients.
Return to Sender: President Trump is considering using a $10 billion bailout loan for the US Postal Service as leverage to force change in how the USPS does business. In particular, Trump is targeting how much the postal service charges internet retailers such as Amazon, which is owned by Jeff Bezos, who also owns Trump’s detested Washington Post.
The President and his treasury secretary are also seeking more control of everything from pensions to contracts at the USPS.
The postal service says it’s so strapped it may not be able to deliver mail past September.
Package services are already the Postal Service’s money maker. What really got the USPS in trouble years ago was Congress forcing them to fund pension obligations far in advance.
The Bulletin Board: New York state says random testing shows that 21 percent of New York City residents have been exposed to the coronavirus. —
The oldest brother of Massachusetts Sen. Elizabeth Warren died of the coronavirus. Donald Herring was 86. Democratic Rep. Maxine Waters of California also says her sister is dying of the virus. — Right wing demonstrators are expected to amass today at the Wisconsin state capitol to protest the social and business restrictions put in place by Democratic Gov. Tony Evers. Brian Westrate, the treasurer of the state’s Republican Party, posted an online plea saying, “I implore you, please leave Confederate flags and/or AR-15s, AK-47s, or any other long guns at home.” Fine … but are water bottles OK?
Dr. Trump’s Travelling Medicine Show: In another of his rambling and self-promoting briefings yesterday, President Trump floated the idea that injecting a patient with disinfectant might cure the coronavirus. “I see the disinfectant that knocks it out in a minute, one minute,” Trump said. Turning to his medical advisers at the side of the room he said, “And is there a way we can do something like that by injection inside or almost a cleaning.”
Yeah, let’s call McMaids to clean up the pandemic.
But wait, there’s more. If you buy that one, you get this one free! Trump suggested light treatment.
After a briefing by a homeland security official who said the coronavirus deteriorates quickly in sunlight, Trump said, “So, supposing we hit the body with a tremendous — whether it’s ultraviolet or just very powerful light — and I think you said that hasn’t been checked but you’re going to test it,” Trump said. “And then I said, supposing you brought the light inside of the body, which you can do either through the skin or in some other way.”
Well, one method would be to put a flashlight in the ear and see if light comes out the other side.
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