Money Is Flowing For Big Banks. For Unemployed Americans, It's About To Be Cut Off
Consider This from NPR
NPR
4.2 • 6.2K Ratings
🗓️ 17 July 2020
⏱️ 12 minutes
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Summary
While the economy is in a recession and tens of millions of people have lost jobs, some big banks are enjoying huge profits.
Three unemployed workers from different parts of the country share what options they have once the federal CARES Act benefits expire at the end of July.
Indivar Dutta-Gupta, co-executive director of Georgetown University's Center on Poverty and Inequality, told NPR that the expiration of CARES Act benefits will not only hurt those workers relying on them — but the economy as a whole.
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Transcript
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| 0:00.0 | 71,000 new cases of the virus. |
| 0:04.1 | That was Thursday, which was a new record high for the US. |
| 0:07.8 | Suddenly, Dr. Anthony Fauci's ominous warning back in June. |
| 0:11.8 | I would not be surprised if we go up to 100,000 a day. |
| 0:15.6 | Seems more of a forecast now. |
| 0:17.6 | And so I am very concerned. |
| 0:21.3 | More people getting sick means more bad news for American workers. |
| 0:25.2 | The unemployment rate is hovering around 11 percent |
| 0:28.0 | down from the peak of the pandemic, but way up since the coronavirus landed here. |
| 0:34.1 | More than 30 million people are currently collecting unemployment benefits. |
| 0:38.6 | And added relief for many of those Americans is about to get cut off. |
| 0:43.8 | Meanwhile, for big banks, money just keeps rolling in. |
| 0:48.9 | You're listening to Consider This from NPR. |
| 0:51.2 | Kelly McEvers is off this week. |
| 0:52.9 | I'm Elsa Chang. |
| 0:54.0 | It is Friday, July 17th. |
| 0:58.0 | Support for this podcast and the following message come from Integrative Therapeutics, |
| 1:06.6 | Creator of Physicians Elemental Diet. |
| 1:08.9 | A medical food developed by clinicians for the dietary management of IBS, IBD, and |
| 1:14.4 | SIBO under the supervision of a physician. |
| 1:18.4 | So months ago, Emily Gill lost her job at a hotel in Portland, Oregon. |
| 1:23.2 | And while she waited and waited for her unemployment application to go through, she ate through |
... |
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