As Congress fights, analysts warn economy needs help now As Congress and the White House resume their efforts to agree on a new economic aid package, evidence is growing that the U.S. economy is falteringWASHINGTON -- As Congress and the White House resume their efforts to agree on a new economic aid package, evidence is growing that the U.S. economy is faltering. “The economy needs another shot in the arm.”With unemployment still at a high 11.1% and hiring potentially slowing in July, the economy is likely to weaken further without more government aid, economists say. The number of laid-off workers who have applied for unemployment benefits has topped 1 million every week for 18 straight weeks. The White House wants to replace the enhanced benefit with a payment that would vary by state but would combine with a state unemployment benefit to replace 70% of recipients' previous income, likely with some cap for high-income earners. The aid Congress is considering now will likely top $1 trillion.

Source: ABC News July 27, 2020 16:04 UTC