'BradCast' 5/28/2020 (Unemployment Deepens, Market Soars, What the Hell is Going On? The Prospect's David Dayen explains)

Published: May 29, 2020, 1:36 a.m.

b"On today's 'BradCast':\\xa0 Another 2.1 million Americans filed new weekly jobless claims last week, bringing the number of unemployed to nearly 41 million -- Great Depression-era levels. But the official government numbers are still lower than the real unemployment numbers, according to our guest, DAVID DAYEN of The American Prospect, citing new census data that nearly half of all U.S. households have lost income since the beginning of the coronavirus crisis. Yet even with record jobless numbers and more than 100,000 Americans killed by COVID-19, the stock market is soaring. Billionaires in America have added $485 billion in wealth. Why is this happening? Dayen explains how the Federal Reserve's signals that they will act as a backstop for huge companies (with no strings attached) are bailing out the investor class, leaving average Americans with limited, temporary relief. Cash-strapped states and municipalities are fast approaching July 1 budget deadlines, and will soon slash services and lay off cops, firefighters, teachers, and medical workers unless Congress enacts another relief bill for states, but Senate Republicans say they are in no rush to take any action. Also today: a Pennsylvania Democratic state lawmaker calls for his Republican colleagues to resign for endangering lawmakers and their families, by hiding the fact that GOP lawmakers tested positive for COVID-19 yet took no protective measures during hearings calling for reopening businesses. Wisconsin will automatically send absentee ballot applications to all registered voters -- will Donald Trump threaten to cut off federal funding to WI like he did when Michigan announced the same policy?\\xa0 Plus Desi Doyen has our latest 'Green News Report' ..."