The article written by The Economist details information about unemployment rates in the US currently compared to the Great Recession. Unemployment peaked at around 10% in 2009 over the course of a year, while this May 2020 it peaked at about 16% in just 2 months. Although unemployment is high, poverty rates have been low due to fiscal policy. For example, the stimulus plan passed by Congress is over twice the size of the one passed a decade ago. This undoubtedly helps out single-parent households and other households around the country survive during lockdown. Because of this, annual household income should actually rise 4% compared to the previous year; however, the stimulus plans failed to renew since late july and it is expected that poverty rates and unemployment rates alike will increase once more due to the lack of policy aiding low-income households in America. Currently as of mid October, 2020, Trump has proposed another round of stimulus checks totaling about $1.8 Trillion; however Nancy Pelosi, the Speaker of the House, rejected the offer on the table. Although her motives are largely unclear, the denial of the stimulus package represents a much deeper issue within policy formation in the U.S.
