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McConnell: Dems Won’t Allow ‘a Penny’ in Stimulus ‘Unless Texas and Florida Bail Out New Jersey’…
Senate Majority Leader Mitch McConnell argued on Monday that Democratic leaders view the coronavirus pandemic as a political “opportunity” to “bail out” states such as New Jersey, adding that Republicans are willing to support another coronavirus stimulus plan that includes funding for other areas.
McConnell said the Senate GOP’s coronavirus relief package “focused on kids, jobs, healthcare, and legal protections to help our country reopen,” as well as another round of direct stimulus payments.
“I’d hoped the Senate would be spending this week turning a major agreement into law, but sadly for the country, sadly for struggling Americans, the Speaker of the House of Representatives and the Senate Democratic leader decided we would not deliver any of that,” McConnell said during a speech on the Senate floor.
“They stayed true to their comments from very early on in the pandemic,” he added. “This is the way they looked at it. They saw this pandemic as, quote, ‘a tremendous opportunity to restructure things to fit our vision.’ That was the House Democratic Whip. Speaker Pelosi herself put it this way: ‘This is an opportunity. Every crisis is.’ Working families call this pandemic a crisis. They call it a nightmare, but leading Democrats call it an opportunity.”
McConnell described the $1 trillion state and local funding that House Democrats passed in the HEROES Act as one of the major disagreements in the stimulus negotiations with the White House…
Americans Are Growing Less Willing to Beg for Permission to Make a Living…
Officials claim doing business is a revocable “privilege,” but many Americans see it as a right that they’ll exercise with or without licenses and permits…
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Tennessee Valley Authority Bends to Trump and Says It Won’t Lay Off U.S. Workers…
The Tennessee Valley Authority is abandoning plans to lay off dozens of U.S. technology workers after President Trump, in a broadside against the power company earlier this week, fired two of its board members. “We were wrong in not fully understanding the impact on our employees, especially during the pandemic,” said Jeff Lyash, TVA’s CEO, […]
Trucking Co. Won’t Deliver in Cities Pushing to Defund, Disband Police Departments…
An Illinois trucking company is halting all pickups or deliveries in cities that are calling to defund or disband police departments, the co-owner of the company said during an Aug. 5 interview. Mike Kucharski, who co-owns Chicago-based JKC Trucking, said he wants to keep his drivers safe, even though it might affect the company’s revenue […]
July Jobs Report – 1.8 Million Jobs Recovered…
The Bureau of Labor Statistics released the July jobs report earlier this morning. Overall during this phase of the economic recovery the U.S. added 1.8 million jobs in July, with strong recovery in: Leisure and Hospitality (+592k), Retail Trade (+258k) and professional and business services (+170k). Strong steady gains continue in manufacturing, construction and transportation […]
Chinese-born Yu Meng, Who Invested California Public Employees’ Retirement Funds in Blacklisted Chinese Military Suppliers, Suddenly Resigns…
In March 2020, just weeks before California Gov. Gavin Newsom was “negotiating” a $1 billion mask deal with a Chinese company, National Security Adviser Robert O’Brien announced that the Trump administration was “looking at” investments in blacklisted Chinese military companies by the state’s public employees retirement system, known as CalPERS. There were also questions about […]
The Fed Created an Emergency Lending Program to Hold Interest Rates Down; the Tiny Country of Sri Lanka Was the Major User…
At Fed Chairman Jerome Powell’s press conference on July 29, he persisted in his explanation that all of the Fed’s bailout programs are really about helping the American people get back on their feet. Here’s one more, among a growing mountain, of reasons to question that. Sri Lanka is an island country situated in the […]
New York City Loses Hundreds of Billions in Wealth As Rich Resident Skip Town…
New York City’s total wealth has fallen by billions of dollars over the past year – amid a severe coronavirus outbreak that has driven the richest residents out of town. According to a report from New World Wealth and Webster Pacific, the combined wealth in the Big Apple fell by $336 billion in the 12 […]
Data Quirk Inflates Wuhan Virus Jobless Figures by 3.7M…
Figures for weekly job losses caused by COVID-19 are being inflated by adjustments the government uses in a normal year to smooth out seasonal factors and show broader growth patterns, according to one investment adviser. While Labor Department reports show more than 54 million Americans have filed for first-time unemployment benefits since stay-at-home orders were […]
Wall Street Banks that Got the Biggest Fed Bailouts Have Been Dogs to Shareholders over the Past 15 Years…
Federal Reserve Chairman Jerome Powell wants Americans to believe that the mega banks on Wall Street that hold trillions of dollars in federally-insured deposits, while peddling everything from high-risk derivatives to junk bonds to precious metals, “are a source of strength” during this economic downturn. The big problem for the Fed is the above two […]
Cuomo: U.S. Taxpayers Need to Fill New York’s Budget Gap…
The state of New York faces a budget deficit of $30 billion over the next two years thanks to the COVID-19 crisis, and Gov. Andrew Cuomo said Wednesday it’s up to the federal government to fill it. Without that help, Cuomo told reporters that funding for local governments and hospitals would take a significant hit. […]
President Trump Signs Executive Order Curbing H-1B Outsourcing of American Jobs…
President Donald Trump signed an executive order Monday which curbs the H-1B outsourcing of jobs at government agencies, including the government-controlled Tennessee Valley Authority. “We believe jobs must be offered to American workers first,” Trump told attendees at a signing event in the White House. Staffing companies have used the H-1B program to fill roughly […]
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Kodak Granted Chairman 1.75 Million Options the Day Before Trump’s $765 Million Loan to Company…
The day before a $765 million loan from the government was announced, Kodak granted its executive chairman Jim Continenza 1.75 million options as the result of what is being called an “understanding” with the Board of Directors. The options had not been listed in his employment contract, nor were they made public, according to Reuters. […]
Why So Many Cities Are Paralyzed…
Sympathy for America’s big-city mayors and their allies is evaporating – generally for good reason. Portland and Seattle, for instance, seemed willing to give rioters a free hand before belatedly stepping in. And of course there’s the amazing quote from Chris Cuomo, the brother of New York’s Governor : “Please, show me where it says […]
Stockman Slams “Lockdown Lunacy” – Your Government Ordered Depression Has Arrived…
Well, the Virus Patrol sure has done it. In a fit of reckless overkill they have managed to vaporize six years of economic growth during the last 90 days. And that’s just by the mechanical reckoning of the GDP accounts, where total output in Q2 weighed in at essentially the same level as Q4 2014. […]
The Fed Has Secreted Away the Transactions of Three of Its Emergency Lending Programs…
Federal Reserve Chairman Jerome Powell and Randal Quarles, the Vice Chairman for Supervision at the Fed, have stated in testimony before Congress that they would be providing transaction level details of their Section 13(3) Emergency Lending Facilities on a regular, ongoing basis. But the three oldest of those facilities, the Primary Dealer Credit Facility (PDCF), […]
Trump Admin Made Four Separate COVID Stimulus Offers – Dems Rejected All of Them, Meadows Says…
President Donald Trump’s administration has presented four separate coronavirus stimulus plans to Congress and Democrats have rejected each of them, White House Chief of Staff Mark Meadows announced Friday. Meadows has been on Capitol Hill negotiating with Democrats all week, but to no avail, saying Democrats have not even proposed a counter offer. If a […]
Trump’s ‘Creative’ Kodak Deal Hailed by Health Experts…
This week, the Trump administration took “a momentous step” to bring manufacturing back to the United States as the once-mighty camera company Kodak will be transformed into a pharmaceutical firm to produce essential medicines. Rosemary Gibson, the co-author of “China Rx,” praised the deal, calling it “a great step forward” for the country. “Our health […]
New York Times Rewrites the Timeline of the Fed’s Wall Street Bailouts, Giving Banks a Free Pass…
Last Friday, the New York Times officially embarked on what we have been expecting – an attempt to rewrite the current, ongoing Wall Street bank bailout. We were so certain that an alternative reality was going to emerge at the Times, that we had the foresight to create an archive of Wall Street On Parade […]
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