Donald Trump, Nancy Marshall Ganz, Congress discussed on Morning Edition
C s I. P. C. I'm David Brancaccio. President. Trump released a video last evening, saying the $900 billion covert relief bill passed by Congress is a disgrace needs to be reconfigured. And that $600 a person is not enough. Marketplaces. Nancy Marshall Ganz is in Washington. Will this delay the relief, Jax? Possibly David. Now, Trump did not specifically threatened to veto the covert relief bill. If you were to sign it, the checks could go out very soon. A Treasury secretary Steven Mnuchin, said earlier this week. The money would land in Americans bank accounts as soon as next week. What happened to President Trump vetoes this bill? We'll both the House and Senate approved the covert bill by veto proof majorities in Congress can override of the president's veto with the two thirds majority needs chamber. But those votes would have to be scheduled, and many members of Congress have already gone home for the holidays. Right. So what's the next step then? Well, House Speaker Nancy Pelosi tweeted last night. Democrats could vote this week on a bill that would increase the payments to $2000. But that would have to be a unanimous vote than the Senate would have to approve it unanimously, which is unlikely by one estimate from economists early today, she increasing the checks to $2000 just for adults. Would cost an extra $370 billion. Nancy. Thank you. The stock market is pretty calm about this at the moment. Perhaps because Trump did not specifically say he would veto covert relief. The Dow is up 171 point 6/10 percent. The S and P 500 is up 4/10 percent. The NASDAQ is down 1/10 percent. The number of people signing up for unemployment benefits after fresh layoffs remain very high in the last week, But there's news the number did fall from 803,000 from 885,000 people. Personal spending fell sharply in November. The 4/10 percent drop was the first since April. We also just got the University of Michigan survey of Consumers where there was more strength in December over November overall, but slippage detected as this month draws to a close marketplaces. Mitchell Hartmann has background Even with positive news about vaccinations. Most of the news about the economy and Covitz spread has been downbeat lately, says Robert Frick, at Navy Federal Credit Union. Retail spending is decreasing, and the times are not good. Even with the federal aid package. We're looking at a few bleak months. How consumers feel about the future depends a lot on how pandemic shutdowns and layoffs affected them, says Mark Camera at bankrate dot com. There are a lot of people who are doing just fine Blue been able to work from home. They may own their home. They have substantial assets. They're not overly worried about the future. Other workers are more anxious. Those who have really been on the frontlines of these industries hurt most during the pandemic, leisure and hospitality retail and they are more financially fragile, he says. A recent Bankrate survey found that half of American households have lost income.