Well I’m back after two days offline due to the tropical storm that unexpectedly ravaged New York.
Friday morning we will get the monthly jobless number for July. On Thursday we saw the initial jobless claims was again above a million new filers for the twentieth straight week.
Despite the growing number of jobless and the end of the federal government’s $600 monthly benefit, Congress cannot hammer out a new legislation for Covid-19 rescue plan due to partisan politics.
On Thursday, Governor Andrew Cuomo said New York will need at least $42 billion from the feds over the next two years to stem the shortfall in revenue for the state and MTA.
Cuomo earlier this week said he was begging rich New Yorkers to come back to the city. Ironically he said he would “buy them a drink and a meal.” However, Cuomo’s draconian treatment of NYC bars and restaurants have put so many out of business he may not be able to get a table.
Cuomo and New York City Mayor Bill de Blasio have plunged the city into a deserted wasteland in just six short months with their progressive attitude toward rioting. So the governor’s passion plea to the rich more than likely rings hollow with the Fifth Avenue crowd.
De Blasio has his own plan for NYC’s rich, which I’m sure has Cuomo fuming. The mayor wants to raise taxes on them at the same time that they have come to realize they don’t have to “make it there” anymore, as Frank Sinatra once crooned.
It certainly is “up to you New York, New York”.