As Stalemate On Relief Efforts Persists, GOP And Democrats Exchange Barbs
White House Chief of Staff Mark Meadows over the weekend criticized House Speaker Nancy Pelosi for the lack of progress and she returned the favor. Meanwhile, millions of Americans are facing dire economic realities. In other news, The New York Times reports that administration officials have suggested to congressional leaders that a vaccine may be approved even before Phase 3 trials are complete. The administration denies that.
Reuters:
Republicans, Democrats Trade Blame For Stalled U.S. Coronavirus Aid Legislation
Top Democrats and Republicans blamed each other for stalled talks on coronavirus aid legislation on Sunday, a day after the House of Representatives approved $25 billion in new funds for the U.S. Postal Service, a bill that Republicans declared dead. The Democratic-led House passed the bill on Saturday in a special session called by House Speaker Nancy Pelosi to prevent dwindling Postal Service funding and planned service cuts from interfering with delivery of mail-in ballots for the Nov. 3 election. (Lawder and Hesson, 8/23)
The Washington Post:
Debt, Eviction And Hunger: Millions Fall Back Into Crisis As Stimulus And Safety Nets Vanish
One of the most successful elements of the government’s response to the coronavirus recession — protecting people on the margins from falling into poverty — is faltering as the safety net shrinks and federal benefits expire. Major recessions are especially fraught for low-income earners, whose finances can veer from tenuous to dire with one missed paycheck. But as the economy cratered this spring, economists and poverty experts were mildly surprised to discover that the torrent of government support that followed — particularly the $600 a week in expanded unemployment benefits and one-time $1,200 stimulus checks — likely lowered the overall poverty rate. (Denham and Telford, 8/23)
The New York Times:
Trump Aides, Meeting With Lawmakers, Reportedly Said A Vaccine Would Be Approved Before The Election
Trump administration officials met with congressional leaders last month and told them they would probably give emergency approval to a coronavirus vaccine before the end of Phase 3 clinical trials in the United States, perhaps as early as late September, according to two people briefed on the discussion. The move would be highly unusual and would most likely prompt concerns about whether the administration is cutting corners on approvals for political purposes. (8/23)
The Hill:
Economist Moore Predicts 'Exuberance' In Financial Markets If Coronavirus Cases Decline, Schools Reopen
Economist Stephen Moore said a potential decline in coronavirus cases and the reopening of schools could lead to an “exuberance” in financial markets. “If that happens, you're going to see a lot of exuberance, not just in the financial markets, but in the real economy as we can start to get schools re-open,” Moore told radio host John Catsimatidis on his show broadcast on WABC 770 AM Sunday. (Moreno, 8/23)
