• Unemployment claims are soaring as the coronavirus pandemic shuts down businesses.Unemployment Forms

    Jobless Claims Drop, but Remain Historically High

    By Michael Rainey

    About 787,000 people filed initial jobless claims in state unemployment programs last week, the Labor Department announced Thursday, a drop of 55,000 from the week before and well below analysts’...

  • Coronavirus Taskforce briefing at the White House

    GOP Worries Mnuchin Is Giving Away Too Much

    By Michael Rainey

    House Speaker Nancy Pelosi (D-CA) said negotiators were “just about there” on the issue of funding testing and tracing programs for the coronavirus, a key provision in the relief bill she is trying...

  • FILE PHOTO: A pharmacist holds prescription painkiller OxyContin at a local pharmacy in Provo

    OxyContin Maker Pleads Guilty, Will Pay $8.3 Billion

    By Michael Rainey

    Purdue Pharma has agreed to plead guilty to federal criminal charges for its role in creating the opioid crisis, the Justice Department announced Wednesday. The OxyContin maker will pay $8.3 billion...

  • Trump’s Drug Discount Cards for Seniors Get Pushed Back

    By Michael Rainey

    The Trump administration plans to send $200 discount cards for prescription drugs to more than 30 million Medicare beneficiaries, but the White House is abandoning an effort to have them shipped out...

  • Trump holds a rally in Indiana

    Trump’s Farm Bailout Pumped $21 Billion Into GOP Counties

    By Michael Rainey

    More than 90% of the money disbursed by a program that compensates American farmers hurt by retaliatory tariffs during President Trump’s trade war with China was sent to counties that voted...

  • FILE PHOTO: George Washington is seen with printed medical mask on the one Dollar banknotes in this illustration taken

    70% of Americans Support Additional Coronavirus Payments: Survey

    By Michael Rainey

    Although lawmakers and the Trump administration have been unable to agree on the next coronavirus relief package, which could potentially include stimulus checks, most Americans think the federal...

  • Investigators Flag Billions in Questionable Small Business Aid

    By The Fiscal Times Staff

    The Paycheck Protection Program lent more than $1 billion to small businesses that violated the rules of the program, a House investigative committee said Tuesday. In a preliminary report ,...

  • House Small Business Committee in Washington, DC

    Mnuchin Says Trump Wants a Deal on Covid Relief

    By Michael Rainey

    Appearing before a House panel investigating the federal response to the coronavirus pandemic, Treasury Secretary Steven Mnuchin told lawmakers Tuesday that the White House is ready to renew the...

  • Steel beams on the draw span, which needs replacement, are shown on the Arlington Memorial Bridge in Washington.

    Once Again, Infrastructure?

    By Michael Rainey

    Real interest rates are negative, which means the federal government is essentially getting paid to borrow money right now, once inflation is taken into account. Writing at Bloomberg Monday, Wall...

  • Biden Eyes Trillion-Dollar Stimulus as Negotiations Hit a Wall

    By Michael Rainey

    September is just around the corner, but the impending arrival of fall has done little to inspire lawmakers and the Trump administration to come to an agreement on the next coronavirus stimulus bill...