$400 a week for US unemployed will drain diverted $44 billion disaster fund in weeks

US President Donald Trump has signed executive orders diverting $44 billion of funds from a federal disaster relief fund.

Trump states “This will take care of pretty much this entire situation, as we know it” referring to his orders to pay tens of millions of unemployed Americans $400 per week.

Major drawbacks to this according to critics are that:

  • The President does not have control over Federal Spending, Congress has control over this area of spending
  • Individual states that are to cover 25% of the payments are unable to meet this due to the current economic crisis
  • Self employed, Workers who rely on tips and anyone receiving more than $100 in unemployment a week are excluded
  • If the orders are carried out the $44 billion will run out in weeks though Trump says the plan is to be in place until December 6th

In addition to the $400 benefits, there are orders for relief for student loans, and a suspension of collection of payroll taxes.

Senate Minority Leader Chuck. Schumer said “The president’s executive orders, described in one word, could be paltry, in three words, unworkable, weak and far too narrow”

On Sunday Trump said to belay State Contribution fears “We have a system where we can do 100% or we can do 75%, they pay 25, and it will depend on the state. They will make an application. We will look at it, and we’ll make a decision.”

Joe Biden responded with “These are series of half-baked measures, another cynical ploy designed to deflect responsibility.”

Whilst Nancy Pelosi Speaker of the House said “The president’s meager, weak and unconstitutional actions further demand that we have an agreement”

Treasury Secretary Steven Mnuchin said on Sunday that the $400 benefits could be available immediately, but White House economic adviser Larry Kudlow says that the payments could take a couple of weeks.

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