Mass. Democrats Push For Additional Jobless Benefits
Short-Term Horizon
Seeking Alpha Analyst Since 2014
When the facts change, I change my mind.
Summary
- More than 110 Massachusetts state legislators wrote to Labor and Workforce Development Secretary Rosalin Acosta last week demanding aid for recipients of less than $100 per week.
- A small contingent of Massachusetts residents fell short of qualifying for Lost Wages Assistance federal program.
- President Trump created the national $44 billion Lost Wages Assistance program through executive order last summer after the CARES Act expired.
- Loosing fiscal policy is a beta positive market development.
During the period spanning late August to early September, Massachusetts directed more than $1.3 billion in federal fiscal LWA program stimulus to 461,000 workers on the standard unemployment rolls and 234,000 who qualified under the expanded eligibility benefits negotiated by Congress.
As reported in the Eagle Tribune, "It's not clear how many jobless workers in Massachusetts have been disqualified because of the $100 per week threshold, which was set by the Trump administration."
Why does this matter? What am I tracking this?
Aggregate demand growth is good for equities and bad for bonds. Fiscal authorities have several ways of boosting aggregate demand:
1. Direct government spending, which is the example documented herein.
2. Tax cuts.
3. Regulation cuts.
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