Thursday, November 19, 2020

Jobless Claims Surge With COVID Cases

Weekly jobless claims rose to 742,000 last week, roughly equal to the number in late 2008 when we faced the worst economic decline since the Great Depression after Republican mismanagement of the economy. Some 20.3 million people are now on unemployment, with many facing the end of their benefits around Christmas. Restrictions on business to curb the exploding COVID rates have resulted in new layoffs, a legacy of neo-fascist sociopath and con man Donald "Mango Mussolini" Trump's refusal to fight the virus.

With Trump effectively abandoning his job to golf, watch TV and push lies about voter fraud, relief to states and local governments having to cope with the surge in both COVID-19 and unemployment is unlikely:

"Millions will lose benefits next month when two government-funded programs expire. President-elect Joe Biden will inherit the public health crisis and a frail economy when he takes over from President Donald Trump on Jan. 20."

If Trump lacked concern about unemployment relief before the election, he's vastly less concerned now, especially since he's embarked on a mission to make President-elect Biden's job as hard as possible. When he realizes that he can't overturn the election and remain in power, he'll become more unhinged and rage-filled as he pursues a "salt-the-earth" campaign before his disgraceful exit.

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