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Wednesday, May 15, 2024

Reuters: Millions of Americans are on the brink of financial collapse

A Reuters report on the consequences of US President Donald Trump’s decision not to sign the US Corona Aid bill said that millions of people are now on the brink of financial collapse.

When the US Congress passed the Corona Aid Bill on Monday, Megan Meyer, a single mother and head of household in Lincoln, Nebraska, hoped that in her daily struggle to provide food and shelter for her two children in an unprecedented economic crisis.

But the next day, President Donald Trump called the long-awaited Corona bailout package a “shame” and said he would not sign the bill.

In recent days, Trump has refused to take the slightest step to resolve this issue.

This puts Mayer, who has been on unpaid medical leave since May, facing a financial precipice. He worked for customer service company TG Max and is at high risk for covid 19.

So far, he said, he has had to enlist the help of friends and charities to overcome the crisis in 2020 so he can provide for his children and pay for his rent and other living expenses.

Under a new congressional bill, corona aid will continue until mid-March, supporting self-employed workers and those who have been unemployed for more than half a year.

The law also pays an additional $ 300 a week to all those with unemployment insurance benefits, about 20.3 million people, by mid-March.

Many economists agree that this amount of coronary aid is insufficient, and more aid will be needed after elected president Joe Biden takes office charge on January 20.

On Saturday, Trump tweeted that he was still reluctant to sign the bill, despite a request from members of Congress to show goodwill over the Christmas holidays.

Under the bill, $ 892 billion will be allocated to address the problems caused by the Corona virus crisis, including the cost of extending special unemployment benefits in the United States. The bill also provides $ 1.4 trillion for normal government spending.

Trump did not criticize the bill before it was submitted to the House and Senate for a vote.

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