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Nearly 25% of Americans will be broke by election day

Tuesday, 13 October 2020 11:39 PM [ Last Update: Tuesday, 13 October 2020 11:39 PM ]

Ramin Mazaheri

Press TV, Chicago

The Great Lockdown in the United States has caused so much economic despair that according to a report in USA Today a stunning 25% of the nation has just three weeks of savings - meaning they will be totally broke by election day on November 3.

Unemployment is so astronomical in some major urban areas like San Francisco - according to the Mercury News of San Jose, California - that there are 11 unemployed people for every job opening; the dollar has lost 7% of its value since February, per the US Dollar Index, making imported goods more expensive; and expanded federal unemployment payments expired 2 and half months ago.

And yet Democrats and Republicans continue to be unable to agree on a badly-needed second stimulus package. Many Americans are desperately hoping that a second one-time payment of just $1,200 will be agreed upon, even if only as a stand-alone measure.

The unpopular handling of the Great Lockdown and its massively destructive economic impact has cut the approval rating of Congress in half. In May they had a pretty bad approval rating of 30%, but today it’s down to an abysmal 17%.

The Gallup polling company also gives Donald Trump an approval rating of 44%. An aggregate of national polls on the presidential vote currently gives Joe Biden a 10 point lead, but the major polls were wrong four years ago. However, many Americans say that the economic recovery from the coronavirus lockdown is so important that it can’t be politicised, but bipartisan unity continues to be a foreign idea in Washington.

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