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Drudge Retort: The Other Side of the News
Thursday, October 15, 2020

The number of poor people has grown by eight million since May, according to researchers at Columbia University, after falling by four million at the pandemic's start as a result of an $2 trillion emergency package known as the Cares Act. Using a different definition of poverty, researchers from the University of Chicago and Notre Dame found that poverty has grown by six million people in the past three months, with circumstances worsening most for Black people and children.

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The recent rise in poverty has occurred despite an improving job market, an indication that the economy has been rebounding too slowly to offset the lost benefits. The Democratic House has twice passed multitrillion-dollar packages to provide more help and to stimulate the economy, but members of a divided Republican Senate, questioning the cost and necessity, have proposed smaller plans.

The Cares Act included one-time payments for most households " $1,200 per adult and $500 per child " and a huge expansion of unemployment insurance.

That expansion at least doubled the share of jobless workers who receive checks, the researchers estimated, by including gig workers and the self-employed through December. In addition, it added $600 to weekly aid through July " nearly tripling the average benefit. For about two-thirds of the beneficiaries, the bolstered checks more than replaced their lost wages.

At its peak in May, the aid kept more than 18 million people from poverty, the Columbia researchers found. But by September, that number had fallen to about four million.

And people wonder why Nancy Pelosi refuses to settle for a deal that will not address the widening and unconscionable tragedy being wrought upon displaced workers through absolutely no fault of their own?

The Democratic House passed legislation in both May and again just weeks ago to help these struggling Americans - along with their state and local governments - reeling from the trickle down effect of lower tax revenues meeting balanced budget requirements leading to further layoffs of critical personnel and a accelerating death spiral of negative economic effects.

But it seems that ACB is more important than TCB as it regards devastated Americans simply trying to survive during a global pandemic. May the electorate punish such heartlessness and intentional cruelty in a manner Republicans will never forget.

#1 | Posted by tonyroma at 2020-10-15 07:34 AM | Reply | Newsworthy 7

But the important thing to remember is that the 1% got most of the benefits of the CARES Act through being able to deduct losses from pass through companies, carryback previously suspended operating losses and the immediate write off of improvements to buildings they rent.

Meanwhile the House relief package sits on McConnells desk while they cram an unqualified judge onto the Supreme Court because priorities.

#2 | Posted by Nixon at 2020-10-15 07:47 AM | Reply | Newsworthy 2

In order for Trump's vision of a 2-class autocratic society ~ the very rich and the very poor ~ to succeed, the middle class has to be eradicated as quickly and as painfully as possible, in order that they never forget the futility of resistance.

#3 | Posted by Twinpac at 2020-10-15 07:50 AM | Reply | Newsworthy 1

"Trump's vision of a 2-class autocratic society ~ the very rich and the very poor "

Assuming this theory means that Trump represents the wealthy, how is eradicating the middle-class good for the wealthy?

The Wealthy in this country benefit from a strong middle class

Right?

#4 | Posted by eberly at 2020-10-15 08:40 AM | Reply

898,000 more Americans filed for unemployment according to this morning's report.

Americans need help and the Congressional Republicans and the Trump White House are telling them to eat cakes - of soap.

#5 | Posted by tonyroma at 2020-10-15 08:45 AM | Reply

The Wealthy in this country benefit from a strong middle class

Right?

I think the last 40 years have proven the old paradigm no longer applies. The wealthy no longer sees any need for excess profits to pass through to the working classes as they used to, hence the generally flat gentle rise of wages during a time of great gains in overall business profitability.

I see the new metric as being one that supports broad consumption - by those not in the upper tiers - but little more than that. And look at whose businesses are thriving the most and I think you'll find those who see a large proportion of their revenues derived from lower income households and those at the higher ends.

The middle is continuing to be squeezed as the struggle of maintaining that lifestyle is pressured at both ends, with college costs skyrocketing beyond all reason and young college grads are saddled with debt loads far higher than you and I were decades ago.

#6 | Posted by tonyroma at 2020-10-15 08:56 AM | Reply

EBERLY

"The Wealthy in this country benefit from a strong middle class."

The wealthy in this country benefit from a strong WORKING class.

Below middle class wages is the difference. Not to mention the lack of a dozen other things that shouldn't even have to be explained to you.

#7 | Posted by Twinpac at 2020-10-15 09:04 AM | Reply

6/7

thanks for the responses. Do you think this means we'll simply redefine the middle class to whatever the middle 50% falls to in terms of income/wealth?

There is a breaking point somewhere. Tony mentioned college debt....that's a great example. That's going to blow up eventually.

My point is that something drastic has to happen to shift the economy back towards a real middle(working) class.

#8 | Posted by eberly at 2020-10-15 09:10 AM | Reply

My point is that something drastic has to happen to shift the economy back towards a real middle(working) class.

That is actually what Biden's economic plans are based upon Ebs. I don't know whether you subscribe to the Times and Post but even if you don't, open up a privacy window and read this story instead of me transposing it all here. But here is a snippet:

The former vice president is updating and bringing back the long-dormant Democratic tradition of labor liberalism.

He is doing so rhetorically and with union hall visits, but also through an agenda that seeks to spark economic growth through substantial public investments. He would build infrastructure, fight climate change, raise wages, guarantee health insurance coverage and expand child-care and pre-K programs.

And he is creating the sort of multiracial electoral coalition that has always been the only workable path to progressive governance.

#9 | Posted by tonyroma at 2020-10-15 11:14 AM | Reply

And on the points mentioned in #9, Wall Street has already figured out that a Biden election and complete Democratic control of Congress will lead to 4.2% annualized growth and the regaining of all the lost pandemic jobs within 2 years, where the lowest growth estimate of all possible combinations is if Trump and the GOP regain control of everything - where even 4 years out the economy still is not projected to have recovered its pandemic loses.

I do not have a link, but Steve Rattner presented these numbers earlier this morning on tv.

#10 | Posted by tonyroma at 2020-10-15 11:20 AM | Reply

I don't know why the wealthy are so reluctant to pass most of the relief to those with the most need. It almost all eventually trickles up to the rich anyway.

#11 | Posted by Whatsleft at 2020-10-15 11:56 AM | Reply | Newsworthy 1

"how is eradicating the middle-class good for the wealthy?"

So you still foolishly believe that Trumpy has thought anything through like that ? Trump doesn't really care about the wealthy. That's just good PR. Because Trump wants everyone to think he is one of them.

No. Not one of them. The leader of them. The bestest Tremendous most Bigly powerful of the wealthy.

And as long as the trump empire makes tons of money and he is the alpha dawg in the room that is good enough for Trump.

If you become a BILLIONAIRE and make money or become a LOSER and lose all your money well...that's your problem. As long as Trumpy is the Man and can continue to "borrow" money he really doesn't care about you and your problems. And. Paying it back is obviously optional.

#12 | Posted by donnerboy at 2020-10-15 12:01 PM | Reply

#11

This is what always boggles my mind. Any spending done by the working class ends up as profits and gains for the ownership class, so just why is it so anathema to their orthodoxy to allow the federal government to assist the working classes in times of economic upheaval and financial uncertainty?

On one hand to do so is actually biblical and an underlying tenet of Jesus' actual teachings but you'd never know it by all the religious righties driven to get and keep their own and minimize needed help towards others.

#13 | Posted by tonyroma at 2020-10-15 12:06 PM | Reply | Newsworthy 2

Well, I guess Dems need to actually start caring about these people and work on legislation that addresses the problem. Not legislation that addresses the problem and 10 other things that have nothing to do with the problem.

#14 | Posted by humtake at 2020-10-15 12:17 PM | Reply

Because if you give money to the poor and working class that might raise their standard of living and subsequently demand better for themselves and that takes some power away from the ownership class. You can't treat the lower classes like garbage if they demand better.

#15 | Posted by LauraMohr at 2020-10-15 12:24 PM | Reply

The poor are expendible. The crud up the nice landscapes and open space the rich yearn for.

Sometimes things are simple and clear. The rich and most high level republicans view the lower classes as trash. They want them to die back.

Policies that feed the rich directly while denying the poor basic survival are enacted BECAUSE they hurt the poor. Not by accident,by design. Having the poor get assistance that then trickles up to the rich is anathema to everything they are. They want the poor to beg for scraps and then deny them even that.

Even if it hurts the bottom line.

The point is,they want people to DIE.

#16 | Posted by Effeteposer at 2020-10-15 12:27 PM | Reply

10 other things that have nothing to do with the problem.

Like funding for the FBI building in DC that the GOP placed into their relief bill?

Newsflash: Everything in the Democratic bills have been directly related to problems/issues caused by the Covid pandemic regardless of what the Republicans say.

The help for states and cities is related to these realities: Tax revenues are down because of layoffs, terminations, and the almost complete loss of businesses related to food service, lodging, and travel. This means that all the balanced budget laws that state GOPs codified all over America make it impossible for these governments to do anything but cut payrolls and services at a time they are vitally needed by citizens impacted by the repercussions of this pandemic.

Funding to the states and local governments is just as necessary - and indeed will support the continued employment of vital workers instead of throwing even more people onto the unemployment rolls. Their needs have nothing to do with mismanagement as the GOP keeps trying to claim, for they are just further victims of the pandemic's wrath.

#17 | Posted by tonyroma at 2020-10-15 12:33 PM | Reply

"Well, I guess Dems need to actually start caring about these people and work on legislation that addresses the problem."

And what will the reps be doing?

Why the Republicans will be busy stuffing their own pockets and the courts and ignore the poor and undermine any laws that congress managed to pass (like the ACA) that was designed to protect and care for "these people" and their "problems".

#18 | Posted by donnerboy at 2020-10-15 12:58 PM | Reply

Moscow Mitch loves this, it makes him laugh. Disgusting POS.

#19 | Posted by _Gunslinger_ at 2020-10-15 03:14 PM | Reply

The Wealthy in this country benefit from a strong middle class
Right?

#4 | POSTED BY EBERLY AT 2020-10-15 08:40 AM | FLAG:
(CHOOSE)

You would think so; Henry Ford realized that his workers were also his consumers and paid a living wage, but the gilded class today don't seem to be very aware of what goes on beyond their heavily-armed and well-guarded gated communities. The way the rich snatch up every dollar they can, the way they fight union rights, the ACA and any other legislation that makes life better for the poors and middle class, you would think we were taking food out of their mouths.

Ditsy DeVoss owns TEN yachts and TWO helicopters. What do you need TEN yachts for? How do you even use TEN yachts? That level of wealth is obscene. Yet she does everything she can as a civil servant to make sure that you and your family can be ripped off by for-profit colleges with zero recourse. She is working hard to DESTROY public education so that your kids can't move up the ladder to a better life.

The gilded class have climbed the ladder, and are now spitting on us while doing everything they can to pull the ladder up so that the average person has no chance to improve their lives. They are completely tone-deaf. If things don't change, the poors will be at the gates with their pitchforks and torches before long.

#20 | Posted by _Gunslinger_ at 2020-10-15 03:27 PM | Reply | Newsworthy 2

How do you even use TEN yachts? That level of wealth is obscene.

My guess is you charter them out to others, and use the depreciation as tax write offs. Probably all owned by a llc, etc.

#21 | Posted by GOnoles92 at 2020-10-15 03:36 PM | Reply

"The number of poor people has grown by eight million since May"

Take a bow, GoNoles.

#22 | Posted by snoofy at 2020-10-15 03:42 PM | Reply

Well, I guess Dems need to actually start caring about these people and work on legislation that addresses the problem. Not legislation that addresses the problem and 10 other things that have nothing to do with the problem.
#14 | POSTED BY HUMTAKE

Oh Hummy.

You really are too stupid to walk and chew gum at the same time, aren't you?

#23 | Posted by Sycophant at 2020-10-15 05:50 PM | Reply | Newsworthy 1

Well, I guess Dems need to actually start caring about these people and work on legislation that addresses the problem. Not legislation that addresses the problem and 10 other things that have nothing to do with the problem.
#14 | POSTED BY HUMTAKE

I realize this is just troll bait, but whatever.

The unmitigated gall of conservatives to criticize democrats for supposedly not working on legislation that addresses the problem is offensive.

Take the health care system. It is an obvious problem that has been growing worse by the decade. This is a problem that effects Americans of all walks of life. This is something that goes to the core of governing. Promoting the general welfare!

I'm not going into the decades long struggle to create a rational health care system. But, I will say Obama spent, what, 2 years, drafting an incredibly complex legislation? And all that time republicans did NOTHING! Well, except obstruct and deny!

How did their actions HELP the American people? Is there not a problem with the health care system? Why can't republicans do something about it? Except spend 10 years tearing down something that serves Americans!!! Was the legislation perfect? No! But why can't republicans work to improve the lives of ALL Americans. Christ, it pisses me off.

And a few months from now the ACA will be dead, thanks to Republicans sole purpose in life-to stack the courts.

They won't replace the ACA, gone will be all of the protections that the ACA afforded, gone will be the price protections, gone will be pre-existing condition coverage.

Republicans are scum! There is no other way to perceive them. Their underlying philosophy is selfish and mean spirited.

I sincerely wish their philosophy would go the way of the dodo bird and I wish certain republican leaders to suffer the pain that their actions force on the American people.

#24 | Posted by truthhurts at 2020-10-15 06:59 PM | Reply

Oh, and, BTW.

Conservatives should be careful what they wish for. Keep pushing Americans down, keep stealing from them-money, elections, SC seats.

You push people into a corner where they have nothing to lose and the blowback will be awesome to display.

#25 | Posted by truthhurts at 2020-10-15 07:01 PM | Reply

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