Massive Lines Form Outside Virginia Food Bank As Demand Hits One Million Meals Per Month
- Massive Lines Form Outside Virginia Food Bank As Demand Hits One Million Meals Per Month
by Tyler Durden, https://www.zerohedge.com/
The economic recovery has stalled, and in some cases, reversed. The $600 unemployment benefits that Americans received following the virus pandemic that crashed the economy in March-April expired on July 31, which means a fiscal cliff has been underway for 44 days (as of Sept. 14).
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Millions of people are still out of work, their emergency savings wiped out, and insurmountable debts are increasing. As former Federal Reserve Chair Janet Yellen warned in August, Congress’ inability to pass another round of stimulus checks could weigh on the economic recovery.
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Readers may recall about a quarter of all personal income is derived from the government – so when a lapse in stimulus checks extends for well over one month – that could lead to new consumer stress.
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In Richmond, Virginia, about 125 miles south of Washington, D.C., a food bank has been shelling out more than one million meals per month as the metro area battles deep economic scarring sustained by the virus-induced recession.
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