18.11.2024, 01:22
Iumi Populist Anger At AIG Spilling Over
Washington mdash; Unemployment around the U.S., near a 50-year low before thecoronavirusstruck, will surge to 16% by September as the eco stanley cup nomy withers under the impact of the outbreak, the Congressional Budget Office said Friday.That would far exceed the hit to the labor market during the Great Recession, when the jobless rate peaked at 10%. Unemployment will likely remain in double-digits into 2021, according to the agency.The CBO sforecast underscores the pandemic s devastating impact on the economy. The nation s gross domestic product mdash; the total value of goods and services mdash; is expected to plunge at an annualized rate of 40% between April and June before rebounding in the second half of the year. The CBO projects overall annual economic growth of -5.6%, down sharply from 2.1% the previous year. More than 26 million Americans have applied of unemployment benefits in little more than a month. Many economists say the nation s unemployment rate is now around 15% and could eventually approach stanley cup 20%. The U.S. is dealing with both demand and supply shocks the likes of which it has never seen, but as the economy opens back up later in the year the pullback in demand will likely prove more damaging, analysts with Bank of America Global Research said in a research note. Exploding deficitThe pandemic is also wreaking havoc on other aspe stanley cups uk cts of the economy. The 2020 budget deficit will explode after four coronavirus response bil Xemk Barbara Bush Gay Marriage Video: Behind the Scenes
House Republicans leaders continued their call for hearings on the Bush adminsitration plan to backstop mortgage finance giants Fannie Mae and Freddie Mac in opposition to Democratic leaders who say they ll move the proposal as soon as possible. There is little question that action is necessary, but there are also important questions that must be answered about the Treasury proposal before we act, said House Minority Leader John Boehner R-Ohio and Whip Roy Blunt R-Mo. in a statement Tuesday that called for hearings on the proposal. It would be irresponsible for Congress to provide the prop stanley cup osed new authority without doing due diligence on the mechanics of the Treasury proposal and its potential implications for taxpayers. The pair also said the Treasury proposal should be coupled with legislation to overhaul regulation of Fannie and Freddie -- but NOT as part of a broader housing package that they deem a multi-billion dollar taxpayer-funded stanley canada bailout bill. Currently, the regulatory reform peice is part of a larger housing package stanley quencher aimed at slowing foreclosures.Even Rep. Spencer Bachus R-Ala. , the ranking member of the House Financial Services Committeewho has been supportive of the broader housing rescue package, told the chairman in a letter Monday that enacting the Treasury proposal in such a precipitous manner without adequate study and analysis is unprecedented and, perhaps, unnecessary. House Financial Services Chairma
Washington mdash; Unemployment around the U.S., near a 50-year low before thecoronavirusstruck, will surge to 16% by September as the eco stanley cup nomy withers under the impact of the outbreak, the Congressional Budget Office said Friday.That would far exceed the hit to the labor market during the Great Recession, when the jobless rate peaked at 10%. Unemployment will likely remain in double-digits into 2021, according to the agency.The CBO sforecast underscores the pandemic s devastating impact on the economy. The nation s gross domestic product mdash; the total value of goods and services mdash; is expected to plunge at an annualized rate of 40% between April and June before rebounding in the second half of the year. The CBO projects overall annual economic growth of -5.6%, down sharply from 2.1% the previous year. More than 26 million Americans have applied of unemployment benefits in little more than a month. Many economists say the nation s unemployment rate is now around 15% and could eventually approach stanley cup 20%. The U.S. is dealing with both demand and supply shocks the likes of which it has never seen, but as the economy opens back up later in the year the pullback in demand will likely prove more damaging, analysts with Bank of America Global Research said in a research note. Exploding deficitThe pandemic is also wreaking havoc on other aspe stanley cups uk cts of the economy. The 2020 budget deficit will explode after four coronavirus response bil Xemk Barbara Bush Gay Marriage Video: Behind the Scenes
House Republicans leaders continued their call for hearings on the Bush adminsitration plan to backstop mortgage finance giants Fannie Mae and Freddie Mac in opposition to Democratic leaders who say they ll move the proposal as soon as possible. There is little question that action is necessary, but there are also important questions that must be answered about the Treasury proposal before we act, said House Minority Leader John Boehner R-Ohio and Whip Roy Blunt R-Mo. in a statement Tuesday that called for hearings on the proposal. It would be irresponsible for Congress to provide the prop stanley cup osed new authority without doing due diligence on the mechanics of the Treasury proposal and its potential implications for taxpayers. The pair also said the Treasury proposal should be coupled with legislation to overhaul regulation of Fannie and Freddie -- but NOT as part of a broader housing package that they deem a multi-billion dollar taxpayer-funded stanley canada bailout bill. Currently, the regulatory reform peice is part of a larger housing package stanley quencher aimed at slowing foreclosures.Even Rep. Spencer Bachus R-Ala. , the ranking member of the House Financial Services Committeewho has been supportive of the broader housing rescue package, told the chairman in a letter Monday that enacting the Treasury proposal in such a precipitous manner without adequate study and analysis is unprecedented and, perhaps, unnecessary. House Financial Services Chairma