Financial trouble awaits as US benefits, protections run out

Author
Newstalk ZB staff,
Publish Date
Mon, 27 Jul 2020, 2:58PM
(Photo / Getty)

Financial trouble awaits as US benefits, protections run out

Author
Newstalk ZB staff,
Publish Date
Mon, 27 Jul 2020, 2:58PM

Federal payments that have aided Americans financially during the global pandemic have expired, and will likely bring about a new wave of financial strain.

An extra US $600 had been added to weekly unemployment checks since the early stages of the pandemic. Protections against evictions have also ended.

US correspondent Richard Arnold told Mike Hosking the expiration's have caused "a second-grade depression".

"If you go to the centre of Los Angeles right now, there are homeless people everywhere I have never seen anything like this.

"Potentially now we have millions more people who are about to lose the roof over their heads and be booted onto the street."

Meanwhile, one American man has shared his lottery winnings due to a handshake deal back in 1992.

In the earl 90's, Wisconsin friends Tom Cook and Joe Feeney agreed to split the cash should one of them ever win.

Mr Cook was a lucky winner and held up his end of the deal, splitting the US $22 million between them.

UNEMPLOYMENT BENEFIT EXTENSION RUNNING OUT, MAN SHARES LOTTERY WIN WITH FRIEND AFTER 1992 HANDSHAKE DEAL