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Search resuls for: "Yaros"


7 mentions found


☆ Biden and McCarthy's plan to change SNAP work requirements in the debt-ceiling deal could actually expand benefits — but not employment
  + stars: | 2023-05-31 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com   time to read: +6 min
She led some of her Democratic colleagues in introducing an amendment to remove the new SNAP work requirements from the debt-ceiling bill. "Come see me in a year, and I'll show you how much we actually saved," McCarthy told reporters on Tuesday night. How the work requirements will impact employmentDespite McCarthy and Republicans' belief that work requirements will bolster employment, some experts aren't so sure. Work requirements in SNAP have increased employment less; in Medicaid, they appear to have had little effect on employment." "I think it goes to the principle of this bureaucratic red tape that we call work requirements," Jayapal said.
Persons: —, Joe Biden, Kevin McCarthy, Biden, McCarthy, — McCarthy, Cori Bush, Lauren Bauer, there's, Bauer, Bernard Yaros, it's, Yaros, Congressional Progressive Caucus Pramila Jayapal, Jayapal Organizations: SNAP, CBO, Service, Supplemental, Assistance, Democratic, Office, White, Economic, Brookings Institution, The, Brookings, Moody's, Congressional Progressive Caucus Locations: Missouri, TANF
☆ Get ready to see millions of Americans lose their jobs if Congress doesn't raise the debt ceiling in the next few days
  + stars: | 2023-05-29 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com   time to read: +7 min
The US could default on its debt as soon as June 5 if the debt ceiling isn't raised by then. That would translate to "7.8 million jobs lost from peak to trough," Yaros said. Other industries would see over half a million jobs lost in this scenario, including construction. "It's something closer to the 2001 recession that we had after the dot-com bubble, and you get about 1.5 million jobs lost from peak to trough," Yaros said. And 1.5 million jobs lost — that's still a huge human toll that was unnecessarily incurred."
☆ Live updates: Markets await Fed rate decision amid banking turmoil
  + stars: | 2023-05-03 | by ( Cnn'S Krystal Hur | Bryan Mena | Alicia Wallace | ) edition.cnn.com   time to read: +2 min
While a debt default doesn't mean all payments would stop, it could unleash economic and fiscal chaos around the world:Financial marketsAmericans' investments would take a direct hit. That's on top of the increased costs Americans are already facing from the Fed's rate hikes. That's because their costs of borrowing money will also rise, which limits the amount of money they can lend out. The economyA debt default could trigger an economic downturn, which would prompt a spike in unemployment. But if the impasse dragged on for six weeks, then more than 7 million jobs would be lost and the unemployment rate would soar above 8%.
☆ Biden vows to veto the GOP bill to raise the debt ceiling if it makes it to his desk, saying it would cost Americans 780,000 jobs while stripping them of food assistance and student-debt relief
  + stars: | 2023-04-25 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +3 min
The White House said Biden will veto the GOP bill to raise the debt ceiling if it makes it to his desk. It's unclear if enough Republicans will sign on to support its passage through the House. Biden has repeatedly said that he will not negotiate terms to raise the debt ceiling and he would only support a bipartisan and clean increase, without any spending cuts attached. Given that 2024 is a presidential election year, that future debt limit drama may well be even more heated than the current one. With Republicans urging Democrats to negotiate raising the debt ceiling while Biden has refused, the country continues to inch closer to an economically catastrophic default, which could happen early this summer.
☆ 2.6 million Americans could lose their jobs if the GOP cuts spending in a debt ceiling deal, a new report says
  + stars: | 2023-03-07 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com   time to read: +5 min
A Moody's analysis said GOP spending cuts in a debt ceiling increase could cost Americans 2.6 million jobs. Negotiations to raise the debt ceiling aren't making much progress, with a default potentially as soon as 4 months away. "In fact, the economic impact would be so great, that it would result in even more job losses than a short-lived debt ceiling breach, in both the short- and long-term." If there were to be a default, Moody's sees two scenarios. As Insider previously reported, Republican lawmakers have yet to detail where exactly they want to cut spending in a debt ceiling deal, but they have floated some ideas.
☆ Inflation boosts U.S. household spending by $433 a month, on average, Moody’s finds
  + stars: | 2022-11-25 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +4 min
Hourly earnings fell 2.8%, on average, in the year to October after accounting for inflation, according to the BLS. Your personal inflation rate depends on the types of goods and services you buy, and other factors such as geography. The Moody's estimate of inflation's dollar impact analyzes October's annual inflation rate and typical household outlays as outlined by the Consumer Expenditure Survey. "There's no one silver bullet," Joseph Bert, a certified financial planner who serves as chairman and CEO of Certified Financial Group, told CNBC. Joseph Bert certified financial planner and chairman of Certified Financial Group
☆ U.S. job openings jump in September; raw material prices fall in October
  + stars: | 2022-11-01 | by ( Lucia Mutikani | Wayne Cole | ) www.reuters.com   time to read: +4 min
With roughly 1.9 job openings for every unemployed worker at the end of September, wage growth could remain elevated. "It is a head scratcher where you have to wonder whether 10 million job openings can stop a recession from coming." Job openings, a measure of labor demand, increased 437,000 to 10.7 million on the last day of September, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report. Data for August was revised higher to show 10.3 million job openings instead of 10.1 million as previously reported. The job openings rate increased to 6.5% from 6.3% in August.
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