Budget Battles
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Trump Admin Eyes Back-to-Work Bonuses
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Biden Slams Trump’s Coronavirus Response
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The Republican Clash Over Coronavirus Aid
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Trump Wants to Cut Enhanced Unemployment Benefits: Report
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Trump Threatens to Permanently Cut WHO Funding
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$500 Billion Coronavirus Fund Has Barely Been Used
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House Set to Pass $3 Trillion Coronavirus Relief Bill
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Fed Chief Again Nudges Congress to Do More
Federal Reserve Chair Jerome Powell again cautioned that the central bank and Congress may need to do more to prevent longer-term economic damage from the coronavirus pandemic — and that concerns...
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Pelosi Defends $3 Trillion Coronavirus Relief Bill
House Speaker Nancy Pelosi on Wednesday defended the massive $3 trillion coronavirus relief package Democrats released Tuesday, telling the Associated Press that the pandemic “is the biggest disaster...
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Fed Chief: Congress Can Do More, Worry About Debt Later
Federal Reserve Chairman Jerome Powell warned Wednesday that the U.S. economy could suffer prolonged damage if Congress doesn’t provide additional aid to address the coronavirus pandemic and its toll...
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Chart of the Day: Debt Soars, Treasury Yields Do Not
By Michael Rainey“Simple laws of supply and demand suggest that when there’s an abundance of something, the price of that thing falls,” says Jared Dillian at Bloomberg, before noting an apparent exception to the rule...
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Pelosi’s $3 Trillion Stimulus Plan
By Michael RaineyHouse Speaker Nancy Pelosi says she has been encouraged to “think big” for the next coronavirus relief package, and it looks like she has taken that advice to heart. House Democrats on Tuesday...
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Top Trump Advisers Want to Limit Debt From Stimulus. One Problem: Trump
Wary of the cost of surging federal spending to combat the coronavirus crisis, senior Trump administration officials are looking at ways to reduce the additional debt created by any future stimulus,...
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Pelosi Pushes Back on Trump’s Call for New Tax Cuts
House Speaker Nancy Pelosi on Thursday laid out the broad outlines of the next round of coronavirus stimulus being written by House Democrats and dismissed President Trump’s calls for payroll and...
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Trump Pushes Payroll Tax Cut Panned by Economists
As the Senate returns to the Capitol this week, the obstacles to the next round of emergency coronavirus relief legislation seem to be mounting. Trump insists on a payroll tax cut: President Trump...
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Why Canceling Debt Held by China May Be ‘Worse Than Telling People to Drink Bleach’
As President Trump and his administration have ramped up criticisms of Beijing’s response to the coronavirus pandemic, The Washington Post reported Thursday evening that senior government officials...
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Fed’s Powell Says US Economy Will Need More Stimulus
Federal Reserve Chair Jerome Powell said Wednesday that both the central bank and Congress will likely need to do more to support the economy and promote a strong recovery from the coronavirus crisis...
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Senate Approves Another $484 Billion in Coronavirus Relief
The Senate passed an additional $484 billion in emergency coronavirus aid on Tuesday, replenishing a loan program for small businesses that ran dry last week and providing more funding for hospitals...
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Coronavirus Spending Will Spur Renewed Battles Over Deficit
As Congress works to add hundreds of billions of dollars more in coronavirus relief funding, it’s clear that the federal budget deficit and national debt are soaring to levels never seen before . The...
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National Debt Will Exceed GDP This Fiscal Year, New Projection Says
The Congressional Budget Office projected early last month that the federal debt held by the public would approach the size of the economy in a decade, rising from just over 80% of gross domestic...
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Coronavirus Response Will Add $4 Trillion to US Debt, Goldman Sachs Says
Economists at Goldman Sachs say additional fiscal measures to support an economy battered by the coronavirus pandemic are likely to be necessary, and they expect those measures could add another $500...
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What’s After the $2 Trillion Rescue? Pelosi Plans a Big Stimulus
President Trump signed a $2 trillion coronavirus relief bill into law on Friday — the largest such package in U.S. history. Now, officials are already looking ahead to the next phase of emergency...