06 Obamacare TV

Excerpt:
In an abrupt reversal of a policy position the White House staked out last week, President Donald Trump rejected the idea of using a forthcoming federal spending package to deliver financial support to state and local governments devastated by the coronavirus.
“Why should the people and taxpayers of America be bailing out poorly run states (like Illinois, as example) and cities, in all cases Democrat run and managed, when most of the other states are not looking for bailout help? I am open to discussing anything, but just asking?” the president asked on his Twitter feed, which includes close to 80 million followers, on Monday morning.

Excerpt:
As it prepares for this week’s policy meeting, the Federal Reserve has largely calmed turbulent financial markets. Yet a far tougher task remains: Helping rescue an economy and job market that appear to be free-falling into the worst catastrophe since the Great Depression.
Fed policymakers will meet Tuesday and Wednesday against a backdrop of dismal data: More than 26 million Americans have applied for unemployment benefits since the coronavirus forced widespread business closures. Retail sales have dropped by a record pace. Home sales have plunged.
In the meantime, inflation has started to fall amid the collapse in economic activity and is sure to sink further below the Fed’s 2% target level. With beleaguered hotels, airlines and retailers slashing prices, inflation could fall to 1% or less by year’s end. That poses another problem for the Fed: Declining prices can eventually lead consumers to delay spending, thereby slowing the economy further.

Excerpt:
….language in the CARES Act specifically allows all Social Security recipients the right to receive a stimulus check, assuming they also meet other criteria, as well. The Internal Revenue Service can simply reference beneficiaries’ payout data from 2019 if they haven’t filed a tax return, and can direct deposit an up-to-$1,200 stimulus check to the same bank account that their monthly benefit posts to.
As noted, there are some criteria that need to be met in order to be eligible for an Economic Impact Payment as a Social Security beneficiary. For example, you can’t be claimed as a dependent on anyone else’s federal tax return. You’ll also need to have an adjusted gross income (AGI) below $75,000 as a single filer, $150,000 as a couple filing jointly, or $112,500 as head-of-household, to receive the maximum stimulus check. Partial payouts are also possible up to $99,000 in AGI, $198,000 in AGI, and $136,500 in AGI, respectively, for single filers, couples filing jointly, and head-of-household.