Presumptive Democratic nominee Joe Biden has called for an inspector general to investigate coronavirus stimulus loans given to large companies and those close to the administration. “Let me issue a warning right now to anyone who participates in a corrupt giveaway with President Trump and his administration,” Biden said in a video message released by his…
In an op-ed for The Washington Post, presumptive Democratic nominee Joe Biden wrote that President Donald Trump’s response to the coronavirus pandemic amounts to little more than “deflecting blame and dividing Americans.” “The coronavirus, to date, has taken the lives of more than 79,000 Americans. One of every 5 U.S. workers has filed for unemployment — with the…
Writing in an op-ed for The Hill, journalist and Fox News political analyst Juan Williams says President Donald Trump’s “failure of leadership” allowed the coronavirus “to do greater damage to the economy than it otherwise would.” “Yet an upbeat Vice President Pence is still selling the illusion that the nation will be done with the…
Senator Ted Cruz (R-Texas) received his first haircut in three months at Salon à la Mode, the same salon owned by Shelley Luther, who was jailed this week for defying the state’s stay-at-home order and reopening her business early. “Hair salons & barbershops are open in TX today. Just got my hair cut for first…
Former Vice President Al Gore criticized President Donald Trump’s response to the coronavirus pandemic, saying that reopening the economy will endanger more American lives. “I think we’re in grave danger,†Gore told Anderson Cooper and Sanjay Gupta during an appearance on CNN. “I have to tell you both. I think that we are seeing the…
Late Night host Seth Meyers slammed President Donald Trump over his insistence that the national economy reopen and his push for states to lift their stay-at-home orders, saying that his lack of empathy compels him to let Americans die to return to business as usual. “You would think that putting aside his venality, his narcissism,…
Senators  Ted Cruz (R-Texas), Tom Cotton (R-Ark.), Chuck Grassley (R-Iowa) and Josh Hawley (R-Mo.) wrote a letter to President Donald Trump suggesting he suspend visas for guest workers “during recovery from the coronavirus pandemic.” The news was first reported by Politico. The lawmakers suggest Trump suspend guest worker visas for 60 days and prevent some workers from returning to the U.S. for…
Texas Governor Greg Abbott (R) admitted during a private call with lawmakers that reopening the economy would spread the coronavirus even as he publicly announced that he would end an executive stay-at-home order. The news was first reported by The Daily Beast; a spokesperson for Abbott confirmed the call is authentic. “How do we know reopening businesses won’t…
President Donald Trump’s reelection campaign has launched an ad campaign calling his response to the coronavirus pandemic an “American comeback.” The ad characterizes the president’s ban on travel from China as effective at mitigating the spread of the coronavirus even though it’s currently killed nearly 69,000 Americans. It also includes footage of Trump praising “the…
The President’s son-in-law took a potshot at critics on Wednesday as he predicted much of the country would soon be back in business. Jared Kushner appeared to criticize late night comedians. Kushner spoke to Fox News about reopening the economy and praised the administration’s handling of the Covid-19 crisis. “I think what you’ll see in…
According to data released by the Department of Commerce, the United States economy shrunk 4.8 percent in the first quarter of 2020 as the coronavirus pandemic forced millions of Americans out of work. The decline is the first quarter of negative GDP growth for the U.S. since the same period in 2014 and was driven…
In remarks to reporters, President Donald Trump suggested that relief funds from the federal government “could hinge on whether the immigration policies of the individual governments seeking relief align with Trump administration priorities,” according to Politico. “I think there’s a big difference with a state that lost money because of covid and a state that’s…
In a statement, American Postal Workers Union (APWU) President Mark Dimondstein slammed President Donald Trump and his administration in response to a Washington Post report that the president is using the coronavirus pandemic to cripple the United States Postal Service (USPS). “It’s a power grab to destroy the public Postal Service,” Dimondstein said. “The Post’s reporting…
Stacey Abrams, the former Georgia gubernatorial candidate who lost to Governor Brian Kemp (R) following a contentious election riddled with accusations of voter fraud, says there is “no logic” to her former opponent’s decision to open the economy. “There is no logic and that’s part of the problem,” Abrams told View co-host Ana Navarro. “We only shut…
The Department of Labor announced that unemployment claims in the United States have continued to spike, with 4.4 million new filings in the last week, an unprecedented amount. This brings the total number of unemployment claims to 26.4 million, more than the 2008 financial crisis. The news comes as President Donald Trump announced he would…
The Associated Press reports that President Donald Trump is consulting faith leaders on “a phased-in return to broader in-person worship” after religious services had to move online after the coronavirus pandemic shuttered houses of worship nationwide. A White House statement said Trump “mentioned his memories as a young child attending Billy Graham’s service at Yankee…
New York Governor Andrew Cuomo has hired McKinsey & Company to produce “models on testing, infections and other key data points that will underpin decisions on how and when to reopen the region’s economy” according to government sources who spoke to Reuters. “McKinsey, like so many other businesses, is committed to supporting the response to the…
The American people are feeling the economic pain caused by President Donald Trump’s coronavirus response as 73% rate the economy as not good or poor.
Representative Adam Schiff (D-Calif.) took President Donald Trump to task for his assertion that the economy would reopen soon amid the coronavirus pandemic. “There is no ‘reopening’ without a plan to get the virus under control and keep it that way,” Schiff wrote on Twitter. “Trump’s false claims of absolute power are alarming, of course….
A nonpartisan Congressional body has found that a tax change included in Congress’s coronavirus relief legislation overwhelmingly benefits those who make more than $1 million annually. Senate Republicans had introduced a provision that “suspends a limitation on how much owners of businesses formed as ‘pass-through’ entities can deduct against their nonbusiness income, such as capital…
Donald Trump failed to act quickly to stop the coronavirus outbreak, and now he’s hoping a last-ditch power grab will shift the narrative in his favor.
Trump falsely claimed that he has the power to end shutdowns and reopen the economy, but the power rests with governors and local officials.
The latest Monmouth University survey has found that 41 percent of Americans are experiencing economic hardships, saying they’ve lost income as a result of the coronavirus pandemic. The impacts could be felt across all income brackets, with 42 percent of those making less than $50,000, 40 percent of those making between $50,000 and $100,000 and…
Earlier today, President Donald Trump announced he would champion” a new “Opening Our Country Council” and name someone to chair it, the latest move in his plan to reopen the economy as the nation grapples with the novel coronavirus. The council will likely include a group of business leaders, doctors, governors, and other professionals. It…
Joe Biden is cleaning Donald Trump’s clock when it comes to which of the two candidates is most trusted to help the middle class.
As millions of Americans file for unemployment, Donald Trump said it’s his belief that the economy is in pretty good shape.
The Treasury Secretary has said the U.S. could reopen as early as May. Steve Mnuchin told CNBC that the economy will open for business when the President feels the time is right. Mnuchin spoke to CNBC’s Jim Cramer on Thursday about the much vaunted effort to get Americans back to work. “Do you think there’s…
The head of the International Monetary Fund has issued a grim forecast about the world economy. As deaths from Coronavirus grow, most countries will also face a deep recession. IMF chief Kristalina Georgieva said that almost all of the organization’s 189 members will see living standards decline this year. She said the economic effect would…
Attorney General William Barr criticized measures taken to limit the spread of the novel coronavirus, calling them “draconian” and recommending they should be reevaluated by May. In an interview with Fox News, Barr said the United States should ascertain whether measures being “adopted are fully justified, and there are not alternative ways of protecting people”…
Rep. Thomas Massie (R-Ky.) last month forced legislators to return to Washington to vote on the much-discussed coronavirus relief measure despite concerns about the virus. Now he’s threatening to block the next coronavirus relief package, saying he objects to House Speaker Nancy Pelosi’s (D-Ca.) plans to pass any deal struck with Republicans by unanimous consent or…
The New York Times reports that President Donald Trump only changed his mind on reopening the economy in time for Easter after seeing polls that indicated doing so would damage his chances at reelection. Indeed, a recent Yahoo News/YouGov poll found that 59 percent of Americans think that Easter, which falls on April 12, would…
Former Vice President Joe Biden has unveiled his ‘emergency action plan to save the economy.’ The plan contains a series of economic and health measures. The Democratic presidential candidate also took aim at President Donald’s response to the Covid-19 global pandemic. “Joe Biden knows that no economic strategy will work if we don’t stop the…
Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Disease and member of the White House Coronavirus Task Force, says President Donald Trump’s plans to reopen the economy by Easter are ill-advised. You’ve got to be realistic,” he told CNN host Chris Cuomo during an appearance on “Prime Time.” “And you’ve…
Democratic presidential contender Joe Biden has come out against President Donald Trump’s proposal to have the economy up and running by Easter. “Now he’s suggesting he wants to get the country back opened by Easter,†Biden said during a video conference with reporters. “It would be a catastrophic thing to do for our people and…
President Donald Trump’s controversial assurance that the national economy would be up and running again by Easter has received significant criticism from both sides of the political aisle as well as from health experts who argue that loosening social distancing would result in even more deaths and greater economic turmoil. Now, 32 prominent economists, including…
If you feel like you are in a crisis situation, and need help or someone to talk to, call the National Suicide Prevention Lifeline, at 1-800-273-TALK (8255). One of the reasons why President Donald Trump wants to end social distancing practices set up in place to deal with the coronavirus pandemic is to stave off…
President Donald Trump has courted significant controversy since announcing he will look into loosening federal guidelines for social distancing and urge businesses to reopen even as the nation grapples with the coronavirus pandemic. “Our country wasn’t built to be shut down,†Trump said during a briefing at the White House. “America will, again, and soon,…
The novel coronavirus has claimed at least 458 lives in the United States according to the most recent statistics, and health experts are unyielding in their recommendation that the nation must adhere to an initial 15-day period of social distancing to slow the spread of the virus. But President Donald Trump said last night that…
Writing in USA Today, Senator Elizabeth Warren (D-Mass.) took a stand for American workers affected by the coronavirus pandemic, saying that any bailout must put their needs first. “That means making sure that any federal bailout of giant corporations directly helps their employees, fuels a grassroots recovery and ensures that those big companies make serious, long-term…
The New York Times reports that President Donald Trump’s administration is asking state officials to delay the release of unemployment numbers in the wake of the coronavirus pandemic, which sent a shockwave through the economy and forced many out of work after businesses shuttered. The Department of Labor asked state officials in an email to…
As the economy continues its slide into recession, the Trump administration is trying to cover up how many people are filing for unemployment.
The Dow Jones Industrial Average has lost all gains it amassed since President Donald Trump took office, a further indication of the turbulent effect of the coronavirus pandemic on global markets. The Dow plunged 1,428.48 points, or 6.7 percent, an intraday low of 19,808.90. That’s below its close of 19,827.25 on Jan. 20, 2017, the…
It is undeniable that a series of decisions made by Donald Trump have made this health and economic crisis much worse than it should be.
Speaking on CNN, former chairman of the White House Council of Economic Advisers Kevin Hasset said a global recession is imminent, with a loss of 1 million jobs in April. “I think that the odds of a global recession are close to 100 percent right now,†Hassett said. “I think in the U.S., we’re going…
Over the past weekend, in an effort to inject a boost to an already fragile economy and stock market, the Federal Reserve dropped interest rates down to zero percent. It was a demand that President Donald Trump had frequently made of the Fed for several months. In recent weeks, Trump also implied that the move…
After Trump has spent three years boasting about the economy he inherited, he will have to run on a recession he helped create.
The stock markets have tanked pretty hard due to concerns surrounding the spread of coronavirus across the globe. Nevertheless, President Donald Trump is still trying to promote an optimistic view about what’s happening, economically, when it comes to the disease’s impact. When asked on Thursday if he was planning to sign any sort of economic…
The coronavirus outbreak is officially a global pandemic, and policy experts around the world are expressing significant concern over how the virus, which has claimed 4,729 lives worldwide according to the most recent official count, will impact global economies. White House Economic Council Director Larry Kudlow’s old statements have come back to haunt him in…
Wall Street stock markets dropped so precipitously on Monday’s opening bell that a 15-minute delay in all trading conducted was triggered. Such a trigger happens on trading when the S&P 500 dips below 7 percent from its previous close, Bloomberg reported. If the rate drops down to 20 percent below its previous close, Wall Street…
President Trump is desperately trying to soothe the markets but by begging the Fed to cut the rates, which hasn’t happened since the 2008 drop, he is alarming some people.
Donald Trump has spent the past three years as president coasting on the economic successes of his predecessor, Barack Obama.
Former President Barack Obama reminded everyone who is really responsible for the current economy with a single tweet marking the anniversary of the Recovery Act.
Trump once again pulled out his fake middle-class tax, which he promised would happen only if he wins a second term.
A closer look at the facts surrounding homelessness in America indicates that it might not be a fight Trump wants to pick with the Democrats.
Trump claimed that the economy created 330,000 jobs in October when in reality it created 128,000 and unemployment increased.
A Moody’s analysis found that Trump’s trade war has already cost 300,000 Americans their jobs, with another 500,000 to lose their jobs by the end of 2021 if Trump wins reelection.
Trump is in real political trouble as for the first time ever in his presidency more voters say the economy is getting worse than say it’s getting better.
Trump promised to bring back the factories, but the manufacturing sector just suffered its first contraction in a decade.
The CBO says economic growth is smaller than possible because Trump’s tariffs are hurting business investment by creating uncertainty.
The White House is panicked over a recession because a new poll found that half of Trump’s supporters would blame him if the economy tumbles.
Trump called the term recession “inappropriate,” while claiming that the media wants a recession and the country is heading for growth.
Trump is refusing to acknowledge the possibility that another recession is on the way because he doesn’t want to admit his economics policies have flopped.
The White House is scrambling to find a way to boost the economy a day after they promised that there would be no recession.
Trump is in denial about the oncoming recession, but his approval rating with voters on the economy has dropped 13 points in a year.
The White House is panicking because the economy is weakening faster than expected and Trump has no plan to head off a recession.
Former Obama and Clinton economic adviser Gene Sperling named Donald Trump the biggest risk to the US economy.
Robert Reich said that the odds of a recession are now over 50% and that Donald Trump is skating on very thin ice.
Trump’s overall approval rating is at 38%, and he is in negative territory on taxes, handling the economy, and trade. Poll Finds Trump Cratering On The Economy According to the AP/NORC Poll: Nearly two-thirds describe as “good†an economy that appears to have set a record for the longest expansion in U.S. history, with decade-long…
Robert Reich explained that the combination of Trump’s trade war and tariffs along with a slowing economy could lead to a recession before the 2020 election.
Because one disastrous trade war with China isn’t enough, Donald Trump is reportedly planning to wage another one against Mexico.
Trump lied and claimed that China is paying for $16 billion in disaster relief to farmers due to his trade war.
As Trump congratulated himself for auto jobs — in March, hyperventilating over Ford investing money in Flat Rock, Michigan, claiming that companies were “pouring back into the United States” because “they want to be where the action is” — the number 2 automaker Ford was actually restructuring and planning to cut 10% of its global salaried workforce.
U.S. farmers, who helped carry Trump to his surprise 2016 election win, have been among the hardest hit as China has imposed tariffs on imports of U.S. agricultural products including soybeans, pork and grain sorghum in response to U.S. tariffs on Chinese goods.
Now, increasing frustrations over the prolonged dispute are prompting some rural residents in Iowa, home of the first presidential nominating contest in February, to consider candidates other than President Donald Trump in the 2020 election.
If Trump goes through with his plan to increase tariffs on all Chinese exports, it would be a $2,000 tax increase on the average American family.
Trump the Taxer: Not only are Trump’s tariffs one of the largest tax hikes in decades, but they also amount to more than the tax increases from the first three years of President Obama’s Affordable Care Act.
U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, pointing to a slowdown in economic growth after a temporary boost from exports and inventories in the first quarter.
AT&T cut more than 23,000 jobs and slashed investment after getting a $21 billion tax cut from Donald Trump and the Republicans.
“There will be some sacrifice on the part of Americans, I grant you that. But also that sacrifice is pretty minimal compared to the sacrifices that our soldiers make overseas that are fallen heroes or laid to rest,” Cotton said on Trump’s trade war with China.
Another good month of decent job growth looks good on paper but will do nothing to help Donald Trump’s reelection chances in 2020
Trump’s Fed choice Stephen Moore has said that he wants to get rid of child labor laws and force 11 and 12-year old kids to get jobs.
The economy won’t be able to rescue Trump and the GOP as the vast majority of Americans aren’t feeling great benefit from Trump’s economy.
The White House confirmed that the pay raise that Trump promised with his tax cuts for the wealthy has not happened for 96% of workers.
LEESBURG, Va. (Reuters) – U.S. House Speaker Nancy Pelosi said on Thursday that legislation to rebuild the country’s infrastructure that Democrats are developing should be worth at least $1 trillion, and she would like to see it be $2 trillion. “Has to be at least $1 trillion, I’d like it to be closer to $2…
“I don’t see the qualifications of Cain or Moore fitting in with the mission of the Fed, which is to conduct monetary policy and not be political,” Senator Chuck Schumer told reporters.
Stephen Moore, the economic commentator whom President Donald Trump plans to nominate to the Federal Reserve Board, lacks the expertise and political independence needed to help set interest rates for the U.S. economy, a top Congressional Democrat said on Tuesday.
By Howard Schneider WASHINGTON (Reuters) – In the op-ed column that may vault think tank analyst Stephen Moore to a spot on the Federal Reserve Board of Governors, he argues the Fed could have skirted recent rate hikes and dodged a wave of criticism by tying monetary policy to commodity prices. The Fed, Moore wrote…
WASHINGTON (Reuters) – U.S. President Donald Trump urged General Motors Co to reopen Ohio plant in a tweet on Saturday, ten days after the plant made its last Chevrolet Cruze. The last Cruze rolled off the assembly line a week ago Wednesday at GM’s plant in Lordstown, Ohio, the first of five plants in North…
By Imani Moise and Pete Schroeder WASHINGTON (Reuters) – Democratic and Republican lawmakers pressed Wells Fargo & Co Chief Executive Tim Sloan for proof that the bank has moved past a string of customer abuse scandals at a tense hearing in Congress on Tuesday. Sloan is the first bank executive to be grilled by the…
U.S. job growth almost stalled in February, with the economy creating only 20,000 jobs as construction and retail payrolls dropped, which could raise concerns about a sharp slowdown in economic activity.
“We need some stability, we need some action and we need it now,” Overman, who farms in Goldsboro, said via telephone.
As millions of Americans continue to feel the impact of the Trump-Republican tax scheme, it will become impossible to defend.
Trump sold his tax cuts as a tax cut for working families. But now, reality has struck and not only will millions not get a refund this year, but some might have to pay the IRS.
The Republican tax cut, which involved the biggest changes to the tax code in 30 years, might have put more money in people’s paycheck due to withholding table changes, has come home to roost and it’s not pretty.
One important element of the Trump-Republican tax scheme is that those who live in the bluest states will be harmed the most.
Trump’s speech was light on new initiatives to further stoke growth in an economy seen as losing momentum as it began 2019. A Reuters poll last month forecast economic growth would slow to 2.1 percent this year after likely averaging around 3 percent in 2018.
WASHINGTON (Reuters) – U.S. economic growth will slow this year to 2.3 percent from 3.1 percent in 2018, as the stimulative effects of President Donald Trump’s tax cuts wane and the federal budget deficit climbs to nearly $900 billion, congressional researchers said on Monday. In its latest 10-year budget and economic outlook, the Congressional Budget…
“The President’s shutdown inflicted needless pain and chaos in the lives of millions of Americans, and stole billions of dollars from the economy,” Speaker Pelosi said in a statement sent to PoliticusUSA.
Even though the government shutdown is officially over – for now – the long-lasting effects to the economy aren’t going anywhere.
The soft job growth numbers released today suggest an economy that is slowing down and could be in a recession when Trump runs for reelection in 2020.
While Trump is still living off successes of the Obama administration in many ways, his economic doctrine is finally starting to fear their ugly head.
By Karen Pierog CHICAGO (Reuters) – The Chicago City Council on Wednesday gave overwhelming approval to the final budget proposed by Mayor Rahm Emanuel, who leaves office next year, and who said he will address looming pension funding challenges in December. “Our work is not done but we can say given where we were at…
