The Fiscal Times |

Coronavirus Will Cost US Economy Nearly $16 Trillion, CBO Says

The coronavirus pandemic will shrink U.S. economic output by $15.7 trillion over the next decade, or $7.9 trillion after adjusting for inflation, the Congressional Budget Office estimated on Monday...
The Battle Over State Bailouts

States are confronting massive budget shortfalls as tax revenues plunge and social safety net spending soars, but there’s no clear sense in Washington about how to approach the problem. Despite...
Bipartisan Group of Lawmakers Wants Next Coronavirus Bill to Address Rising Debt

Congress is likely to pass another coronavirus relief bill at some point, but doing so may require addressing the mounting deficit concerns of a bipartisan group of lawmakers. A group of 60 House...

$1,200 Checks? $450 Bonuses? The Latest on the Next Coronavirus Lifeline

Congress has provided a lifeline for millions of Americans hurt by the coronavirus pandemic, providing a boost to incomes via one-time direct payments and implementing a range of other emergency...
Why US Incomes Jumped During the Pandemic

U.S. personal income rose by $1.97 trillion in April, the Commerce Department reported Friday. At 10.5%, it was the largest month-over-month increase on record – and it was driven almost entirely by...
Trump Says He’ll Terminate US Relationship With WHO

Accusing the World Health Organization of protecting China during the coronavirus pandemic, President Trump said Friday that the U.S. would sever its relationship with the agency. “We will be today...
White House Pushes to End Surprise Medical Bills: Report

The White House is pushing Congress to take action on a plan to end “surprise” medical bills, possibly by including it as part of the next coronavirus relief package, Politico’s Susannah Luthi and...
White House Won’t Update Economic Projections

The White House typically releases a mid-year review in July or August, updating its projections on a variety of economic factors including unemployment, inflation, GDP growth and the size of the...