ALL OF THEM ARE REQUIRED TO SELF-ISOLATE FOR 14 DAYS. IT‘S NOW TIME FOR THE WEEKLY
WITH NEWS 6 MORNING ANCHOR
JUSTIN WARMOTH.
>> ANCHOR: GOOD MORNING.
I‘M JUSTIN WARMOTH.
NEWS 6 HAS BEEN BRINGING YOU
THE FACTS SURROUNDING THE
CORONAVIRUS AND THE IMPACTS
IT‘S HAVING ON YOU.
ONE OF THE IMPACTS, THE ECONOMY.
THE NEWS 6 INVESTIGATOR MIKE
HOLFELD HAS BEEN FOLLOWING
EVERY DEVELOPMENT OF THE 2.2
TRILLION DOLLAR STIMULUS
PACKAGE AND WHAT THAT MONEY
MEANS TO YOU.
MIKE, THANK YOU SO MUCH FOR
JOINING US.
GOT A LOT GOING ON.
>> A LOT OF NERVES OUT THERE.
>> A LOT OF NERVES.
>> AND THE STIMULUS PACKAGE
SHOULD EASE THOSE NERVES.
>> I THINK SO.
IT IS DESIGNED TO GIVE PEOPLE
BASICALLY AN ECONOMIC LIFELINE.
IT IS A LOT OF MONEY.
2.2 TRILLION DOLLARS.
IT IS A HISTORYIEERIC TIME AND
A WAR-TIME SITUATION AND IT
REALLY IS.
I UNDERSTAND PEOPLE ARE NERVOUS
AND OF COURSE THE UNEMPLOYMENT
NUMBERS ON FRIDAY AND GIVE
EVERYONE PALPATATIONS AND WE
SHUT THE COMPANIES DOWN.
WE, AMERICA, IS SHUTTING THE
JOBS DOWN.
BUT WHY?
BECAUSE OF THE MEDICAL
NECESSITY.
ONCE THIS PASSES, WE‘RE GOING
TO BE FINE.
THIS IS A VIBRANT ECONOMY
BEFOREHAND AND WILL CONTINUE TO
BE.
A LOT OF THE ANALYSTS SAY WE
WERE ABOUT 29,000 ON THE DOW.
WE‘LL SURPOSITIVES THAT NEXT
YEAR.
IT IS TRUE.
UNLESS THERE‘S ANOTHER
CATASTROPHE.
HOPEFULLY THAT DOESN‘T HAPPEN.
>> LET‘S TALK ABOUT THE PACKAGE
AND WHO THIS WILL AFFECT
DIRECTLY.
I KNOW THERE ARE CERTAIN
REQUIREMENTS BASED ON INCOME
AND THINGS LIKE THAT.
AND FAMILIES AS WELL.
>> YEAH, YEAH, YEAH.
75,000 DOLLARS FOR SINGLE AND I
WANT PEOPLE TO UNDERSTND IF
YOU MAKE UP TO $75,000 THAT
DOESN‘T MEAN YOU‘LL GET THE
CHECK.
IT‘S THE SLIDE RULEMENT SO THE
MORE YOU MAKE, THE LESS YOU
MAKE.
FOR COUPLES UP TO $150,000.
YOU CAN GET UP TO.
THAT‘S HOW THEY PHRASE IT.
2400 AND THE CREDIT OF $500 FOR
EACH CHILD.
THE FAMILY OF 4 FOR INSTANCE
CAN GET UP TO $3400 BUT IT IS A
SLIDE RULE.
I‘VE NOT SEEN THE CALCULUS ON
THAT YET AND I SUSPECT THE MORE
YOU MAKE, THE LESS YOU GET AND
WE‘LL CLARIFY IT FOR EVERYONE
AT HOME.
>> WHEN IT COMES TO THE
UNEMPLOYMENT JOBS NUMBERS AND
THE PEOPLE FILING FOR
UNEMPLOYMENT, 3.3 MILLION WAS
THE NUMBER EVERYONE SAW.
AND THEY SAY IT‘S NOT A
REALISTIC NUMBER BECAUSE A LOT
OF THESE COMPANIES FIRED THEIR
EMPLOYEES TO RECEIVE THESE
BENEFITS AND THEN REHIRE THE
EMPLOYEES.
>> AND REMEMBER HERE IN FLORIDA
THE MAXIMUM YOU GET ON
UNEMPLOYMENT IS 2.75.
I DID THAT CALCULUS THIS WEEK
AND FOUND THAT WE‘LL MAKE
AROUND 3400 DOLLARS A MONTH IF
YOU‘RE ON THE UNEMPLOYMENT WITH
THAT 600 BOOST.
>> JUST MADE SENSE.
>> IT GIVES THEM THE LIFELINE
AND THE BREATHING ROOM TO STEP
BACK.
WHILE THE COMPANIES REALIGN AND
I CAN STILL PAY MY BILLS,
THAT‘S WHAT IT‘S ALL ABOUT AND
EVERYONE WANTS EVERYONE TO GO
BACK TO WORK AND WE WANT THESE
COMPANIES TO BE SUSTAINED AND
THEY WILL.
THERE IS GOING TO BE SOME
CSUALTIES.
I CAN‘T HELP BUT SAY THAT.
I DON‘T WANT YOU TO THINK IT‘S
ALL RAINBOWS.
THERE WILL BE CASUALTIES ALONG
THE WAY BUT FOR THE MOST PART
HERE IN CENTRAL FLORIDA WE HAVE
THE STRONG ECONOMY TO BEGIN
WITH.
>> SO MANY PEOPLE ARE PROBABLY
LOOKING FORWARD TO MAYBE
RETIRING THIS SUMMER.
I KNOW THAT THEY‘RE LOOKING AT
THE 401K AND THAT‘S NOT AN
OPTION RIGHT NOW.
DO YOU THINK THAT‘S THE BIGGEST
PUSH FOR 5-5 YEARS?
>> BY 2021 WE‘LL HAVE RECOVERED
AND THAT WILL INFUSE THE MONEY
BACK INTO THE 401KS.
I THINK EVERYONE HAS TO LOOK AT
IT THIS WAY.
DON‘T BE NERVOUS.
THESE ARE PAPER LOSSES.
YOU DIDN‘T SPEND ANY MONEY.
IF YOU STAY THE COURSE WHAT ARE
YOU DOING?
YOU‘RE GETTING THE STOCKS AND
BONDS AT LOW, LOW RATES.
EVERY TIME YOU KNOW ONE AND GET
A CHEAP RATE, AS NANCY
SUGGESTED IT‘S A GIFT.
IT REALLY IS A GIFT.
AND AS WE‘VE ALREADY SEEN THIS
WEEK, WE‘RE SLOWLY COMING BACK.
AND IF THE OPTIMISM IS THERE,
REMEMBER YOU AND I HAVE TO TALK
ABOUT THIS BEFORE.
THE MARKET IS DRIVEN ON EMOTION.
NOT FUNDAMENTALS.
>> A LOT OF NEWS STORIES
PUNCTUATE THAT.
>> ABSOLUTELY.
>> ON THE LOCAL LEVEL, I KNOW
YOU‘VE BEEN TALKING TO NANCY
AND TALKING TO SOME OF THE
VIEWERS ABOUT WHAT THEY‘RE
DOING WITH THAT EMPLOYMENT AND
DESANTOS SAYS FLORIDA‘S
UNEMPLOYMENT 15-20,000 EACH DAY
AND OF COURSE TOURISM CENTRIC.
THAT‘S THE BASE OF OUR ECONOMY
HERE IN CENTRAL FLORIDA
ESPECIALLY.
AND SO MANY OF THOSE JOBS
EITHER FURLOUGHED.
IF THEY WORK AT THE MARRIOTT OR
HOTEL OR SOMETHING LIKE THAT.
UNEMPLOYMENT THAT THE PHONE
NUMBER AND DATA BASE AND
EVERYTHING LIKE THAT IS SO TIED
UP BASED ON THIS HUGE INFLUX?
>> IT‘S BEEN SLAMMED.
AND MIKE DEFOREST FEATURED THAT
ON FRIDAY AND IT IS JUST
INUNDATED BUT THEY‘RE GOING TO
GET SOME BREATHING ROOM AND GET
THIS THING TO WORK SO I DON‘T
WANT TO GO INTO PANIC THERE.
YOUR BENEFITS WILL BE THERE.
ABSOLUTELY.
>> AND THEN WHAT KIND OF EFFECT
DID YOU HAVE AND THEN IT IS
GOING TO BE LOOKING AT THAT AS
A WHOLE AND THEN AS PEOPLE GET
THOSE IT‘S NOT ENOUGH TO PAY
THE MARRIAGE OR SOMETHING LIKE
THAT, RIGHT?
AND WHAT CAN THAT DO?
>> BANKS WILL ACCOMMODATE.
BANKS WILL ACCOMMODATE IF YOU
CAN‘T MEET THE MORTGAGE OR RENT.
THE SECRETARY OF VOLUSIA
ALREADY INDICATED THAT.
SO THEY‘VE HAD CONVERSATIONS TO
MAKE SURE AND NEGOTIATIONS TO
MAKE SURE WE DON‘T GET HIT LIKE
WE DID IN ‘08.
WE HAD THE PROGRAM IN 08 AND
HERE ON NEWS 6 WE PROBABLY
SAVED 100 HOMES OR MORE
NEGOTIATING WITH BASICKER BANKS.
SO THERE WILL BE A PLATFORM IN
PLACE AND AS THE PRESIDENT
SAID, IT IS NO ONE‘S FAULT AND
PUTTING THAT MONEY THERE.
A LOT OF MONEY, 2.2 TRILLION
AND PUTTING IT THERE TO PROTECT
HOMES, RENTS AND AMERICAN LIVES.
>> WHEN YOU COVERED THE HOUSING
CRISIS OF 2008, LIKE YOU
MENTIONED 100 HOMES, DO YOU
THINK THAT WOULD BE SOMETHING
YOU WILL ALSO TACKLE GOING
FORWARD AS WE GET THROUGH THE
SUMMER MONTHS AND MAYBE JUST
DEPENDING ON HOW LONG THIS
GOES?
>> AND THEN IF THEY NEED ME TO,
AND IF THEY SAY I‘M IN TROUBLE
AND I‘LL NEGOTIATE WITH THE
BANKS AS THEY HAVE IN THE PAST.
BUT THE MONEY WILL BE THERE AND
THE BANKS WILL BE IN AGREEMENT.
THIS IS NO ONE‘S FAULT.
THESE PEOPLE ARE PAYING THEIR
BILLS BECAUSE THEY‘RE WORKING.
THESE ARE HARD-WORKING PEOPLE
IN CENTRAL FLORIDA.
IT IS NOT THEIR FAULT THEY‘RE
GETTING THE RUG PULLED FROM
UNDER THEM.
HOTELS ARE FURLOUGHING AND
SALARIES ARE BEING CUT BACK AND
WE‘RE GETTING SHOW ME THE MONEY.
SHOW ME THE MONEY.
IT LOOKS LIKE WE START TO GET
CHECKS THERE AND THEN OTHERS
GET IT IN THE MAIL AND A LITTLE
BIT LATER.
AND IT IS TO APRIL 8TH AND
OPTIMISTIC.
>> AND COVERING CONGRESS AND
THINGS LIKE THAT WITH THE
SENATE AND UNANIMOUSLY AGREEING
ON SOMETHING AND THAT IS PRETTY
HISTORICAL.
>> AND THEN IT‘S WITH DONALD
TRUMP AND AS I SAID WITH
EXTRAORDINARY TIMES AND THEN
HAVE TO AND LET ME JUST SAY
THIS.
WHAT WE‘RE SEEING, IS THIS IS
FAR FROM PERFECT.
WE KNOW THAT.
AND THEY THREW IT TOGETHER AND
IT LOOKS PRETTY GOOD AND NOW
WE‘LL SEE THE SIDE EFFECTS AND
THAT‘S HAPPENED.
>> AND THEN SOME PEOPLE ARE
SAYING THAT WHY ARE YOU CARING
SO MUCH THROUGHOUT THE ECONOMY
AND THIS IS A HEALTH CRISIS AND
FOCUSING ON THE SXHELGT THIS IS
A DUAL ISSUE HERE.
AND THEN TO CARE ABOUT BOTH.
>> ABSOLUTELY.
AND WE‘RE TELLING PEOPLE TO
STAY AT HOME AND THEN IT‘S WITH
THE HELP AND THE FALL OUT IS
FROM THE ECONOMY.
AND STAYING AT HOME WORKING.
AND A LOT OF PEOPLE ARE WORKING
AT HOME AND WITH THE TERM
REMOTELY AND THERE ARE THOSE
WHERE THAT DOESN‘T WORK.
HOTELS AND DISNEY AND CAN‘T
RIDE THE RIDES ON THE COMPUTER.
>> EXACTLY.
LAST QUESTION, SOME OF THESE
SMALL BUSINESSES AND THEN IN
CENTRAL FLORIDA AND THEN
HOPEFULLY WHAT THE STIMULUS
PACKAGE WILL DO TO KEEP THEM
AFLOAT AND IF THEY OPEN BACK UP
WITH THIS PANDEMIC.
>> AND IF YOU USE THE MONEY TO
SUSTAIN THE BUSINESS AND PAY
YOUR EMPLOYEES, KEEP ON PAPER
FOR KEEPING THE BUSINESS GOING
AND THAT MON SECONSIDERED A
GRANT.
YOU DON‘T HAVE TO PAY IT BACK.
SOWEDAT MINISTRATION SAID,
LOOK, WE WANT THESE GREAT
BUSINESSES AND MOM AND POP
PLACES TO KEEP THEM VIBRANT AND
THAT‘S THE WAY WE‘RE GOING TO
DO IT.
WE‘LL PLAY BY THE RULES AND
BENEFIT WITH THE GRANT AND THIS
YEAR AND THE NEXT YEAR, AND
IT‘S ALL WELL OVER.
>> AND COMING UP NEWS 6
INVESTIGATOR LOUIS BOLDEN WILL
JOIN US TO DISCUSS WHAT HE‘S
BEEN SEEING AT THE TESTING
SITES AROUND CENTRAL FLORIDA