Media clips

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• What’s Left: The Democratic Party’s plan will revive the American economy

  Unfortunately, recent research by Yale University disqualifies this claim. Economists at the University found no evidence that the $600 unemployment benefits, initially sanctioned as a bipartisan effort (with Republican support), had reduced employment. In fact, research conducted by the Economic Policy Institute found that cutting the benefits established by the CARES Act would be “cruel and bad economics.” Extensions of the $600 weekly unemployment insurance do make economic sense then.

  Colgate Maroon-News October 2, 2020
• Shoring up health insurance during COVID: legislative watch

  It’s possible that as many as 12 million Americans might have lost health insurance during the COVID-19 pandemic. According to the Economic Policy Institute, more than 6 million people have lost coverage provided by their employers. Job losses as well as job changes have contributed to this, and further trouble may be ahead if employers, suffering from revenue shortfalls, find they can no longer afford to cover premiums.

  Governing October 2, 2020
• Millennials regret student debt more since pandemic

  “A lot of them graduated in the Great Recession, so they had difficulty being able to get on a career track and secure stable employment,” said Elise Gould, senior economist at the Economic Policy Institute. “Now we have this shock of this recession, and that makes it even more difficult.”

  The Balance October 2, 2020
• Two months later, the end of the $600 boost to unemployment benefits is already causing a drag on the economy

  About 28 million workers are either receiving unemployment benefits or have applied recently and are waiting to be approved, including the 1.5 million people who signed up for benefits last week, according to the Economic Policy Institute.

  …

  Total personal income in the U.S. took a $667 billion hit during August (on an annualized basis), according to EPI’s Josh Bivens, who based the analysis off new data released by the Bureau of Economic Analysis on Thursday.

  “It would have been more, but some of the enhanced $600 payments spilled over into August data,” Bivens writes. How does that translate to individual workers though? Bivens says you can think of it as an across-the-board pay cut for all U.S. workers, which adds up to a roughly 7% drop. In September, Bivens estimates that this “pay cut” will be closer to 10%.

  CNBC October 2, 2020
• California passes landmark law to study proposals for reparations

  In 2016, the typical white family had a net worth nearly 10 times that of a Black family, according to a Brookings Institute analysis. Moreover in 2019, the average wage gap between a Black and white worker in the U.S. was 26.5%, according to the Economic Policy Institute.

  ABC News October 2, 2020
• Shoring up health insurance during COVID: legislative watch

  It’s possible that as many as 12 million Americans might have lost health insurance during the COVID-19 pandemic. According to the Economic Policy Institute, more than 6 million people have lost coverage provided by their employers. Job losses as well as job changes have contributed to this, and further trouble may be ahead if employers, suffering from revenue shortfalls, find they can no longer afford to cover premiums.

  Governing October 2, 2020
• What’s Left: The Democratic Party’s plan will revive the American economy

  Unfortunately, recent research by Yale University disqualifies this claim. Economists at the University found no evidence that the $600 unemployment benefits, initially sanctioned as a bipartisan effort (with Republican support), had reduced employment. In fact, research conducted by the Economic Policy Institute found that cutting the benefits established by the CARES Act would be “cruel and bad economics.” Extensions of the $600 weekly unemployment insurance do make economic sense then.

  Colgate Maroon-News October 2, 2020
• Millennials regret student debt more since pandemic

  “A lot of them graduated in the Great Recession, so they had difficulty being able to get on a career track and secure stable employment,” said Elise Gould, senior economist at the Economic Policy Institute. “Now we have this shock of this recession, and that makes it even more difficult.”

  The Balance October 2, 2020
• Two months later, the end of the $600 boost to unemployment benefits is already causing a drag on the economy

  About 28 million workers are either receiving unemployment benefits or have applied recently and are waiting to be approved, including the 1.5 million people who signed up for benefits last week, according to the Economic Policy Institute.

  …

  Total personal income in the U.S. took a $667 billion hit during August (on an annualized basis), according to EPI’s Josh Bivens, who based the analysis off new data released by the Bureau of Economic Analysis on Thursday.

  “It would have been more, but some of the enhanced $600 payments spilled over into August data,” Bivens writes. How does that translate to individual workers though? Bivens says you can think of it as an across-the-board pay cut for all U.S. workers, which adds up to a roughly 7% drop. In September, Bivens estimates that this “pay cut” will be closer to 10%.

  CNBC October 2, 2020
• When will a second stimulus check arrive? We mapped out 4 timelines for 2020

  The pressure for aid is high. Although new jobless claims for the week declined in the last week (to 837,000 from 870,000), more than 21 million people remain unemployed as a result of the pandemic, according to estimate by the Economic Policy Institute. United and American airlines will furlough 32,000 employees, and Disney has laid off 28,000 people worldwide.

  CNET October 1, 2020