Activity in the Second Quarter of 2020 we are going to see eyepopping forecasts in the third quarter. We cannot lose sight of what that means for people who are struggling, businesses who are struggling, in the fact we still have a deep hole. Recovery,led k shaped and those who do not have options to work from home, is already fading away. We see a hollowed out downtown. [indiscernible] what does that mean for city revenue . In high rent districts employment is still at that 45 of precovid levels. Colleagues and i have a clause looking at what this means for cities and how it depends on revenue structure, industry, and exposure to covid as well as federal and state policy response. If i could get the next slide, please . Go. E we going into this there were a lot of things we thought we knew about city economies and finances. Much of that has been upended by covid. You are thought to be a Success Story if you are a service economy, and now they are under threat. We used to think cities
Asset Relief Program that provided assistance to the Financial Sector after the Global Financial crisis, we were required to provide ongoing oversight and issue a report every 60 days. We have experience and we have built on that experience to hit the ground running to provide immediate oversight and help ensure accountability and transparency how the funds are being used. Host lets look at the overall numbers, 2. 57 trillion in spending and the measures passed by Congress Come here are the figures on each of those packages. The ppe, Paycheck Protection Program, 670 billion, the treasured the treasure economic0 Stabilization Fund 500 billion, expand Unemployment Insurance 375 billion, the Economic Impact payments, 282 billion, Public Health emergency funding to 132 billion, and 150 billion from the cares act, the relief for state and local governments. Ofof that, 2. 57 trillion, Nicole Clowers, how much hasot been spt already . Guest about 677 billion. Thats what we found in our collec
Forced johnson to questions from members of the house of commons on his governments reopening efforts and response to the coronavirus pandemic. Later, the Prime Minister commented on the terrorist that claimed the life of one American National telling members quote, we will not let this kind of senseless murder distract us or in any way allow us to be intimidated or to change our way of life and quote. This is 35 minutes. We are now going ahead to the questions to the Prime Minister. We are going to start with sara. Question one, mister speaker. Mister speaker, this morning i had meetings with colleagues and others. In addition to my duties in this house ill have such meetings later today. Mister speaker my constituents by the chief medical of wales, north ireland and england to reduce the uk level from four to three. Indeed through my works ive seen a reduction in the number of covid positive cases leap needing to be treated. Does the Prime Minister agree with me, is uks wise approach
That is the lack of conservation ethic and the culture of our society. All parts of it are important. I received a germination of this kind of ethic in this country. Ive been talking for almost 35 years around the country, every up manyd somebody comes of them are teachers. They have a strong ethical concept. High school kids coming up whose parents are more sensitive teaching them. I see the germination of an ethic that will say that if we intruding someplace, what are the consequences . Had any ordinary commonsense in the politics of would not have practically destroyed the everglades by diverting the water and so forth. Destroyed halfve the wetlands of the country, areidizing crops that already in surplus to the wetlands and drain grow more. We would not have polluted the rivers and so forth. A society outelop thehe young folks here, society that demands to know and asks the question, what are the consequences of our actions and if they are negative, we just will not do it. Compared
Of the discussion. If you were recently unemployed, laid off, or furloughed, that line is 202 7488000. If you are currently employed, 202 7488001. If you are a Business Owner, that line is 202 7488002. We would really like to hear how this is affecting our business. For all others, the line is 202 7488003. Make sure to text us, including her name, where you are texting from. On twitter, we are at cspanwj, and on facebook we will look for your posts as well, facebook. Com cspan. This is the headline in the Washington Post this morning, jobless rates spike to 4. 4 as democrats and trump began to scramble for a new spending and stimulus. Workers, thee for worst is yet to come. By midyear, the nation will likely be suffering its highest Unemployment Rate in nearly 40 years and possibly the worst since the great depression. Bank of america says the jobless rate will hit 15. 6 . ,oldman sachs pegs it at 15 while the Nonpartisan Congressional Budget Office estimates 12 for the second quarter.