WTF Just Happened Today

Wednesday, December 16, 2020

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1/ Nearly 8 million Americans fell into poverty over the past five months. The poverty rate jumped to 11.7% in November – up 2.4 percentage points since June. The federal poverty line is $26,200 for a family of four. (Washington Post)

• The Federal Reserve officials expect the U.S. economy to shrink by 2.4% this year and for the GDP to roughly equals that of 2009 — the worst year of the Great Recession. (Politico / Washington Post)

2/ Congressional leaders and the White House are nearing agreement on a roughly $900 billion coronavirus relief deal that would include another round of direct payments. Checks are expected to be in the $600 to $700 range per person – less than the checks of $1,200 per person in the initial round earlier this year. The measure would also contain enhanced federal unemployment insurance, roughly $300 billion in Paycheck Protection Program loans, money for COVID-19 vaccine distribution and testing, and relief for hospitals. The bill, however, is not expected to include any new money for state and local governments. Congress must also pass a new spending bill by midnight Friday to avoid a government shutdown. (Washington Post / NPR / CNBC / Wall Street Journal / NBC News / New York Times)

3/ A Trump administration official repeatedly urged top health officials to adopt a “herd immunity” approach to COVID-19 and encourage millions of Americans to be infected by the virus. “Who cares” if “infants, kids, teens, young people, young adults, middle aged with no conditions” get infected, Paul Alexander, a senior adviser at the Department of Health and Humans Services, wrote in an email to health officials. “We want them infected.” Alexander also argued that colleges should stay open to facilitate the spread of COVID-19, saying “There is no other way, we need to establish herd, and it only comes about allowing the non-high risk groups expose themselves to the virus. PERIOD.” (Politico / Bloomberg / Axios)

• ???? Dept. of “We Have It Totally Under Control.”

• Global: Total confirmed cases: ~73,970,000; deaths: ~1,645,000

• U.S.: Total confirmed cases: ~16,886,000; deaths: ~307,000

• Source: Johns Hopkins University

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