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Federal Reserve Chair Says 40% of American Households Making Less than $40,000 Annually Became Unemployed in March

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On May 12, 2020, Federal Reserve Chair Jerome Powell said that a significant segment of low-income earners were laid off in March.

“A Fed survey being released tomorrow reflects findings similar to many others: Among people who were working in February, almost 40% of those in households making less than $40,000 a year had lost a job in March,” Powell said during a webinar at the Peterson Institute for International Economics.

“This reversal of economic fortune has caused a level of pain that is hard to capture in words, as lives are upended amid great uncertainty about the future,” he stated.

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A large portion of those jobs impacted are in the service sector, which generally do not come with benefits such as paid sick leave or offer their employees remote work opportunities.

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According to a survey from the Pew Research Center that was published in April also revealed that one in four lower-income adults had any savings to stave off financial shocks brought about by unemployment and other economic emergencies.

Powell understands the gravity of the situation that the virus has brought about. He also pushed for even more relief measures to keep America’s damaged economy intact.

“Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” he assert.

During the past two months, over 33 million Americans have filed unemployment claims, as large numbers of businesses are closing their doors and state governments are passing stay-at-home orders.

Democrats recently rolled out a $3 trillion spending proposal with the intent of doling out handouts to states, businesses, and people rattled by the pandemic. Senate Republicans are likely going to kill such legislation once it arrives in the Senate.

It’s become clear that America must reopen or it will face tremendous economic hardship.

Shutting down the economy over a virus that does not represent an apocalyptic threat to America is unacceptable at this point and will put millions of working class Americans in economic limbo.

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Southern Baptist Convention Reverses Course on Name Change After BLP Reporting

They say they’re not changing their name.

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The Southern Baptist Convention has sought to dispel reporting from Big League Politics on the organization’s planned name change, arguing that the institution isn’t formally changing its name.

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But a close look at the American Christian church’s plans relating to its name reveal that it’s played with the idea far more seriously than they’re making it seem.

Reports of a name change first emerged in a Washington Post article published on Tuesday. SBC President JD Greear told the Post that “hundreds of churches” affiliated with the denomination had “committed” to using the phrase “Great Commission Baptist” as an alternative to the denomination’s longtime moniker. The change would come as Greear touts his support of the Black Lives Matter, although he’s been careful in pointing out he doesn’t support any formal organization related to the movement. Greear also is renaming the church he personally pastors with the term.

The SBC’s 2021 convention will also organize under the motto of “We Are Great Commission Baptists.” Sounds a lot like a name change, even if the SBC’s leadership is steadfastly maintaining it isn’t.

The name ‘Great Commission Baptist’ is theologically sound in the Christian religion, but it’s somewhat questionable that the organization’s leader appears to be emphasizing it at a moment in which political correctness is making its entryism into many Christian churches and organizations.

It seems as if the organization’s figurehead is keen to present himself as a liberal-style suburban Evangelical to the Washington Post, but he changed his tune quite quickly when the rank and file membership of Southern Baptist churches learned that he was promoting the idea of a name change.

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