Negotiations over more coronavirus relief legislation have largely faltered, and President Donald Trump says he’s considering a larger relief package, one larger than the $1.8 trillion offered by the White House.
898,000 new claims for unemployment benefits were filed last week, according to the latest data released by the Department of Labor (DOL). Economists had forecasted roughly 830,000. The total of unemployment claims for the week of October 10 was the highest number since mid-August, a sign that the coronavirus pandemic has continued to hammer the economy.
Senator Ted Cruz (R-Texas) warned that the upcoming election could be “a bloodbath of Watergate proportions” for the GOP if people are in dire financial straits as a result of the economic impacts of the coronavirus pandemic.
President Donald Trump says coronavirus aid talks have restarted, just days after he shocked financial markets by announcing he’d ordered Republicans to end negotiations altogether.
“Now they are starting to work out,” he told Fox Business Network.
President Donald Trump, who yesterday announced he had instructed Republicans not to negotiate a coronavirus financial stimulus package until after November’s general election, appeared to reverse course this morning, telling House Speaker Nancy Pelosi (D-Calif.) that he is “Waiting To Sign” a bill authorizing stimulus checks as soon as it lands on his desk.
Biden called Donald Trump an economic failure whose policies have reduced the standard of living for millions of Americans.
Massachusetts Governor Charlie Baker (R) rebuked the Senate’s attempts to confirm a nominee to replace the late Justice Ruth Bader Ginsburg on the Supreme Court in remarks earlier today. Baker says the Senate should “allow the American people to cast their ballots” first, joining a chorus of voices who say a confirmation should be decided by the winner of November’s general election.
A group of 13 Nobel Prize-winning economists has announced their endorsement of Democrat Joe Biden in November’s general election.
The economists announced their endorsement in a letter released by the Biden campaign. The signatories are the economists George Akerlof, Peter Diamond, Oliver Hart, Eric Maskin, Daniel McFadden, Roger Myerson, William Nordhaus, Edmund Phelps, Paul Romer, Robert Solow, Michael Spence, Joseph Stiglitz, and Richard Thaler.
Wall Street analysts say the chances of Congress approving a federal stimulus package are “effectively zero” now that the conversation has shifted to filling the late Justice Ruth Bader Ginsburg’s Supreme Court seat.
President Donald Trump called Democrats “heartless” and accused them of blocking vital coronavirus relief as the pandemic continues to wreak havoc on the economy and people’s livelihoods. The Senate did not approve new relief legislation last week.
The University of Pennsylvania's Wharton School found that Biden's economic proposals will lead to greater economic growth.
Earlier this morning, President Donald Trump congratulated JP Morgan for sending its employees back to their offices in the middle of the coronavirus pandemic. The move comes even as public health experts continue to espouse the benefits of working from home to curb the spread of the virus.
Senate Majority Leader Mitch McConnell (R-Ky.) says a vote on coronavirus relief funds could happen sometime this week. McConnell did not specify what would be included in the relief measure, but said it would focus on health care, education, and the economy.
The novel coronavirus caused President Donald Trump’s net worth to drop $600 million in the last year, Forbes reported, placing him at No. 339 (a drop of 64 points) on The Forbes 400, which profiles and ranks the country’s richest billionaires.
President Donald Trump took to Twitter this morning to attack Democrats, claiming that economic shutdowns to slow the spread of coronavirus are politically motivated.
“The Democrats will open up their states on November 4th, the day after the Election,” he wrote. “These shutdowns are ridiculous, and only being done to hurt the economy prior to the most important election, perhaps, in our history!”
President Donald Trump claims the United States has experienced the “Biggest and Fastest Financial Recovery In History” under his leadership.
“Biggest and Fastest Financial Recovery In History. Next year will be the best ever, unless a Sleepy person, who wants to massively raise your taxes, gets in. I’m which case, CRASH!!!” he wrote on Twitter, referring to Joe Biden, his Democratic opponent, who he often refers to as “Sleepy Joe.”
President Donald Trump boasted about the latest report from the Bureau of Labor Statistics (BLS) that found employers added 1.4 million jobs in August. However, the president did not mention that the report also points out the United States has lost 11.5 million jobs since February.
According to the latest data released by the Department of Labor (DOL), another 1 million American workers filed for first-time unemployment benefits last week on a seasonally adjusted basis. This is the 22nd time in 23 weeks that unemployment claims topped 1 million as the nation struggles economically amid the novel coronavirus pandemic.
Larry Kudlow all but declared the pandemic over during an RNC segment on Tuesday that looked eerily similar to a used car commercial.
TikTok has sued President Donald Trump’s administration, saying the president’s executive orders attempting to block it from conducting transactions within the United States targeted the company and denied it due process.