The Trump administration is looking at options for unilateral actions it can take to try to address some of the economic fallout caused by the novel coronavirus pandemic if no relief deal is reached with Congress, according to two people with knowledge of the deliberations.
The discussions are a reflection of officials’ increasingly pessimistic outlook for the talks on Capitol Hill. The White House remains in close contact with Democratic leaders, but a wide gulf remains and deadlines have already been missed.
It’s not clear what steps the administration could take without the help of Congress on issues such as lapsed enhanced unemployment benefits or the expired moratorium on evictions — the two matters President Trump has recently identified as his highest priorities in the ongoing talks. Both of those programs were authorized by Congress earlier this year but were designed to be temporary.
WASHINGTON (AP) — The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday.
The Commerce Department’s estimate of the second-quarter decline in the gross domestic product, the total output of goods and services, marked the sharpest such drop on records dating to 1947. The previous worst quarterly contraction, a 10% drop, occurred in 1958 during the Eisenhower administration.
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3,139,415 confirmed infections, up from 3,061,521 yesterday.
218,456 confirmed deaths, up from 212,083 yesterday.
Trump issues Executive Order forcing meat packing plants to stay open or re-open, citing DPA.
Editorial: US GDP fell 4.8 percent in the first quarter, which is really bad since we didn’t shut down businesses until March.
That figure could be 3x higher. Or worse. In July, when we’re still sheltered in place, let’s see what the Q2 figure is. I bet it’s FAR WORSE than 4.8 percent.
I hope I’m wrong.
The Dow is up about 400, hitting the mid-24k range.
Learn how to turn your hobbies into hustles – check out Gig Economics.
Editorial: I’m leaving this one here because it got a ton of play last week and over the weekend. I even lost a few friends over it because they believe him. I don’t know which stance they believe (that he was spit-balling solutions, he was being serious, he was being sarcastic), but they believe him.
This is, of course, proof that Trumplodytes are members of a cult.
ANNAPOLIS, Md. — Maryland’s health department fielded hundreds of calls from residents asking about ingesting disinfectants after President Donald Trump wondered aloud if that could fight COVID-19, Gov Larry Hogan said Sunday.
The Republican governor spoke about the emergency hotline calls and Trump’s offhand comment during appearances on CBS’ “Face The Nation” and ABC’s “This Week” on Sunday morning. On Friday, the Maryland Emergency Management Agency tweeted a “reminder” that under no circumstances should any disinfectant be injected or ingested.
Hogan said “communicating very clearly on the facts” has been important to him since the COVID-19 pandemic began.
“I think when misinformation comes out or you just say something that pops in your head, it does send a wrong message. We had hundreds of calls come into our emergency hotline at our health department asking if it was right to ingest Clorox or alcohol cleaning products, whether that was going to help them fight the virus,” he said during his ABC appearance.
During a press briefing on Thursday, Trump said research was underway into the effect that disinfectants have on the virus and questioned if they could be injected into people.
“Is there a way we can do something like that, by injection inside or almost a cleaning?” Trump asked. “Because you see it gets in the lungs and it does a tremendous number on the lungs. So it would be interesting to check that.”
The White House accused the media of misrepresenting the president’s comments. Trump said he had been speaking sarcastically.
Hogan said Trump needs to “stick to a message and make sure that these press conferences are fact-based.”
“I think other people in the administration have been trying to make that clear to him, as well,” he added.Source
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