Something is Better than Nothing As President Attempts to Assist But Offers No Adequate Alternative to Congressional Action
President Donald Trump stepped in over the weekend and tried to do what Congress has not been able to accomplish since returning from their Fourth of July break on July 20.
Four executive actions were signed this weekend, but it is not likely these actions will serve as any meaningful force to stimulate growth. They should not be considered an adequate alternative to congressional action.
The President reinstated $400/week of unemployment benefits, replacing those that expired July 31; provided a payroll tax holiday; signed an Executive Order in an effort to protect some Americans from residential evictions; and extended federal student loan payment relief.
Expecting state governments to pay for $100 of the $400 of unemployment benefits is an unrealistic expectation considering states are experiencing significant budget gaps and are asking for their own federal relief.