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Jim Cramer: August Is the Month of Business Closures

Jim Cramer discusses the need for stimulus.

August is going to be a rough month for businesses, Jim Cramer said when breaking down the markets Tuesday. 

This comes as House Speaker Nancy Pelosi says that she doesn't believe that there will be a deal this week. 

U.S. lawmakers are set to revive talks on the next round of stimulus aimed at cushioning the impact of COVID-19 on the domestic economy, which has put more than 30 million Americans out of work and closed businesses, factories and restaurants.

Treasury Secretary Steven Mnuchin and Mark Meadows, the White House chief of staff, today are set to meet with House Speaker Nancy Pelosi of California and Sen. Chuck Schumer of New York, the minority leader.

At the end of the week, the Senate is scheduled to take a one-month recess, but The New York Times reports that whether the lawmakers will leave Washington without a deal is unclear.

The gap between the two sides is a factor of three. Democrats are proposing a $3 trillion plan that includes restoring $600-per-week jobless-aid payments and extending them through January. Those payments expired Friday. Republicans have offered a $1 trillion package that slashed those payments.

Watch the video above for more.

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