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Category: Economy

The US Economy

Stocks slide after Congress breaks with no COVID-relief deal
Posted inEconomy

Stocks slide after Congress breaks with no COVID-relief deal

USNN World Newsby USNN World NewsAugust 14, 2020August 14, 2020
Number of Americans filing for unemployment falls below 1M for first time since pandemic started
Posted inEconomy

Number of Americans filing for unemployment falls below 1M for first time since pandemic started

USNN World Newsby USNN World NewsAugust 13, 2020June 20, 2024
Trump says Democrats' mail-in ballot push holding up coronavirus stimulus package
Posted inEconomy

Trump says Democrats’ mail-in ballot push holding up coronavirus stimulus package

USNN World Newsby USNN World NewsAugust 13, 2020March 26, 2025
Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy
Posted inEconomy

Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy

USNN World Newsby USNN World NewsAugust 11, 2020June 4, 2025
PPP responsible for 'majority' of jobs created since May, SBA administrator says
Posted inEconomy

PPP responsible for ‘majority’ of jobs created since May, SBA administrator says

USNN World Newsby USNN World NewsAugust 10, 2020June 20, 2024
Trump payroll tax executive order likely worth $1,200 per worker: Kudlow
Posted inEconomy

Trump payroll tax executive order likely worth $1,200 per worker: Kudlow

USNN World Newsby USNN World NewsAugust 9, 2020August 9, 2020
Canada slaps back at new Trump tariffs with $2.7B in aluminum duties
Posted inEconomy

Canada slaps back at new Trump tariffs with $2.7B in aluminum duties

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling
Posted inEconomy

Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling

USNN World Newsby USNN World NewsAugust 8, 2020October 14, 2024
President Trump will sign executive orders Saturday aimed at delivering relief to Americans struggling with the economic fallout of the coronavirus pandemic, Fox News has learned. Trump is expected to announce the presidential action during a 3:30 p.m news conference at Trump National Golf Club Bedminster, N.J., before heading to the Hamptons for fundraising events. Trump blamed Democrats Friday for the coronavirus deal stalemate in Congress and said he'd take matters into his own hands. Earlier this week, he previewed executive orders that would extend enhanced federal unemployment benefits, suspend payroll taxes until the end of the year, extend a moratorium on evictions and help with student loan payments. TRUMP SAYS CORONAVIRUS RELIEF EXECUTIVE ORDER COULD COME BY THE END OF THE WEEK 'IF DEMOCRATS CONTINUE TO HOLD RELIEF HOSTAGE' “The president is taking action to provide relief to unemployed Americans, among other actions to provide relief," a senior administration official told Fox News Saturday. Acting unilaterally has its limits and could prompt legal challenges. Trump's orders are narrower in scope than the trillions of dollars Congress is mulling for a massive stimulus to the virus-damaged economy. Congress controls new federal spending and Trump already predicted sidestepping lawmakers will have consequences. “We’ll see, yeah, probably we’ll get sued," Trump told reporters Friday. House Democrats already passed their $3 trillion coronavirus relief bill in May. The Senate GOP last month proposed a $1 trillion plan, though didn't bring the measure to a vote as Republicans were divided on whether more aid is even needed. placeholder DESPITE POLLS AND PANDEMIC, TRUMP CAMPAIGN ARGUES CANDIDATE BETTER POSITIONED THAN IN 2016 House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer have been in talks all week with White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin, but the two sides couldn't strike a deal. Democrats blamed the GOP for failing to understand the gravity of the crisis and for trying to "nickel and dime" struggling Americans, while the White House accused Democrats of not willing to compromise. Trump's actions aren't expected to address some of the big issues that Congressional proposals sought to tackle, including another round of $1,200 stimulus checks, aid to schools to reopen safely, an infusion of cash to revenue-strapped state and local governments, food assistance, new lawsuit protections for businesses and money for mail-in voting for the 2020 elections. Because of provisions in the Constitution that grant the legislative branch spending power, the White House can't just pull hundreds of billions out of the ether without Congressional approval. PELOSI SAYS DEMOCRATS WILLING TO COMPROMISE AT $2T FOR CORONAVIRUS BILL, REJECTED BY TRUMP ADMIN But the Trump administration believes it has access to $140 billion which it can “reprogram.” That includes $80 billion in untapped money from the big coronavirus bill signed into law in March and $40 billion from the Disaster Relief Fund. placeholder The White House believes it can divert some of this funding without congressional blessing, similar to how Trump in 2019 declared a national emergency at the border with Mexico to shift billions of dollars from the Pentagon budget to help pay for a border wall. Pelosi and Schumer earlier this week expressed skepticism about Trump's executive powers. "You can't move that much money," Pelosi said. "We're talking about a major investment." GOP OFFICIALS PREVIEW ‘EPIC’ TRUMP ADDRESS, FIRST FAMILY ROLE IN EVOLVING CONVENTION PROGRAM The Democrats want the White House to continue negotiating with Congress on a big package. "A better way to do this is [to] come to an agreement that meets the needs of the American people -- a much better way," Schumer said. The need for relief is pressing as millions of Americans lost out on the $600-per-week federal unemployment benefit that expired at the end of July. A partial moratorium on evictions on properties with government-backed mortgages also expired at the end of last month. placeholder There are some 110 million Americans living in rental households; up to 23 million renters – or 20 percent – are at risk of eviction by Sept. 30, according to an analysis by the COVID-19 Eviction Defense Project. With the supplemental $600 in unemployment benefits now officially lapsed, about 24 million Americans say they have little to no chance of being able to pay next month's rent, according to a survey by the U.S. Census Bureau. CLICK HERE TO GET THE FOX NEWS APP Rent and mortgage payments are typically the largest monthly expense for Americans: One in four tenant families pays more than half of its income for rent, a rate that’s even higher in cities like San Francisco and New York, according to Harvard’s Joint Center for Housing Studies. New jobless figures from the Labor Department, which cover the week ending August 1, show that more than 1.18 million workers sought aid last week, the lowest since March 14. The latest figures bring the total number of unemployment claims since the shutdown began to more than 55 million. The unemployment rate fell to 10.2%, down from 11.1% in June. Fox News' Mark Meredith, John Roberts, Jon Decker, Chad Pergram, Brooke Singman and Megan Henney contributed to this report.
Posted inEconomy

Trump to sign coronavirus relief executive orders Saturday to help unemployed Americans, others

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump officials recommend executive action as stimulus talks break down
Posted inEconomy

Trump officials recommend executive action as stimulus talks break down

USNN World Newsby USNN World NewsAugust 7, 2020August 7, 2020
US employers hire 1.8M despite new COVID-19 shutdowns
Posted inEconomy

US employers hire 1.8M despite new COVID-19 shutdowns

USNN World Newsby USNN World NewsAugust 7, 2020December 5, 2024
GOP senators pitch extending extra unemployment aid through end of year
Posted inEconomy

GOP senators pitch extending extra unemployment aid through end of year

USNN World Newsby USNN World NewsAugust 6, 2020August 6, 2020

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NATIONAL NEWS

  • Violent summer proves deciding factor for some Minnesota votersViolent summer proves deciding factor for some Minnesota voters
    By Audrey Conklin | Fox News President Trump says he’s confident of winning Minnesota, despite polls that show him trailing Democratic challenger Joe Biden in the battleground state, which has voted ...
  • Progressive journalist slams corporate media for ‘dangerous’ blackout of Hunter Biden scandalProgressive journalist slams corporate media for 'dangerous' blackout of Hunter Biden scandal
    By Brian Flood | Fox News ‘This is dangerous for the future of journalism,’ Jordan Chariton says. Progressive journalist Jordan Chariton slammed corporate media on Thursday for ignoring the ongoing ...
  • Deposition transcripts of accused Epstein enabler released amid trialDeposition transcripts of accused Epstein enabler released amid trial
    By Stephanie Pagones | Fox News The depositions were taken as part of a lawsuit brought against Maxwell by Virginia Roberts Giuffre. More than 400 pages of deposition transcripts ...
  • Trump knocks Pelosi, Schumer for ‘blue-state bailout’ amid coronavirus relief standstillTrump knocks Pelosi, Schumer for 'blue-state bailout' amid coronavirus relief standstill
    By Brittany De Lea FOXBusiness Senate Democrats blocked an attempt by Republicans to push through a $500 billion relief provision. President Trump went after House Speaker Nancy Pelosi ...
  • Putin says Dem Party closer to ‘ideas’ that gave rise to communismPutin says Dem Party closer to 'ideas' that gave rise to communism
    By Morgan Phillips | Fox News Putin was a member of the Soviet Communist Party for nearly two decades. Russian President Vladimir Putin said the U.S. Democratic Party is closer to ...
  • Russia, Iran attempting to influence 2020 elections to damage Trump, cause chaos, DNI Ratcliffe announcesRussia, Iran attempting to influence 2020 elections to damage Trump, cause chaos, DNI Ratcliffe announces
    By Sam Dorman | Fox News ‘Know that our election systems are resilient and you can be confident your votes are secure.’ Russia and Iran are attempting to influence the 2020 elections and have obtained some ...
  • Biden campaign faces backlash for TV ad depicting Michigan tech CEO as struggling bar ownerBiden campaign faces backlash for TV ad depicting Michigan tech CEO as struggling bar owner
    By Danielle Wallace | Fox News The Blind Pig co-owner blamed President Trump, not Democratic Gov. Whitmer, for his bar’s economic downturn. The Biden team is under fire for releasing ...
  • Trump says choice is ‘American Dream’ or ‘socialist hellhole’ in 2020 raceTrump says choice is 'American Dream' or 'socialist hellhole' in 2020 race
    By Audrey Conklin | Fox News US would be ‘no different than Venezuela’ under a Biden administration, Trump tells ‘Fox & Friends’. President Trump on Tuesday equated the race between himself and ...
  • Glenn Greenwald trashes media ‘cone of silence’ around Hunter Biden email scandalGlenn Greenwald trashes media 'cone of silence' around Hunter Biden email scandal
    By Yael Halon | Fox News The Intercept founding editor claims journalists working with ‘FBI, CIA and the NSA … to manipulate the American people’. The Intercept founding ...
  • Cancer-stricken Rush Limbaugh says he can no longer deny he’s ‘under a death sentence’Cancer-stricken Rush Limbaugh says he can no longer deny he's 'under a death sentence'
    By Brian Flood | Fox News ‘You know, I wake up every day and thank God that I did,’ radio legend says. Cancer-stricken talk radio legend Rush Limbaugh provided listeners ...
  • Elon Musk sets 4-year timeline for SpaceX Mars mission, says there’s a ‘fighting chance’Elon Musk sets 4-year timeline for SpaceX Mars mission, says there's a 'fighting chance'
    By Peter Aitken | Fox News The timelines are ‘only guesses,’ but Musk is determined to see his team achieve them. Elon Musk has said he could see a ...
  • Obama’s 2008 campaign vetted Hunter Biden’s $100,000 retainer with big bankObama's 2008 campaign vetted Hunter Biden's $100,000 retainer with big bank
    By Ronn Blitzer | Fox News Back in 2008, when then-candidate Barack Obama was running for the presidency, his campaign defended chosen running mate Joe Biden for backing a bill in ...
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