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With millions of Americans set to lose a weekly 0 unemployment supplement this week, leaders in Washington are discussing another stimulus package that could extend the supplement for the unemployed. The 0 a week program from the federal government was added to state unemployment benefits.Leaders on Capitol Hill also are pushing for a second round of stimulus checks. While it appears Democrats and Republicans are in agreement that there should be another stimulus bill, compromising to the details remains an issue.On Tuesday, President Donald Trump said that he is looking at continuing an unemployment supplement, but at of 70%. Trump said that he and other GOP lawmakers believed that the supplement gave Americans an incentive to remain unemployed.“We want to have people go back and want to go back to work as opposed to be sort of forced into a position where they're making more money than they expected to make and the employers are having a hard time getting them back to work,” Trump said. “It still worked out well because it gave people a lifeline, a real lifeline. Now we're doing it again.”Senate Minority Leader Chuck Schumer agreed that an unemployment supplement is needed as unemployment levels remain in double figures. Democrats in the House passed a bill in the spring that would have extended the added unemployment through the end of the year. The GOP-held Senate has not considered the legislation.“It makes no sense to cut back at a time when we have over 20 million unemployed and we have the greatest unemployment crisis since the Great Depression,” Schumer said in an interview with CNN. “To cut back on unemployment insurance makes no sense whatsoever. That's what they're proposed. In the other proposal, we'll pay people to go back to work. Well, those who go back to work are getting the salary.”Senate Majority Leader Mitch McConnell suggested that an agreement is still a ways off. He also hasn’t signed off on an unemployment supplement, and says that his focus is to get workers back to work rather than provide supplemental unemployment. McConnell, however, said that his proposal would include a second round of stimulus checks. Details of that plan are not available, but McConnell previously said a second round of stimulus would include fewer Americans. With coronavirus cases remaining at high levels and large gathering spaces forced to operate at reduced capacities, it is hard to imagine employment levels reaching pre-coronavirus levels. McConnell told reporters earlier in July that the next round of stimulus funds should cover Americans making less than ,000 per year, which is far lower than the threshold for stimulus funds during the last round of aid, which many Americans received in April and May.McConnell said on Tuesday that the Senate is also looking at replenishing the Paycheck Protection Program, which gave companies funds to help them make payroll during the coronavirus pandemic.“With the majority of businesses expected to exhaust their initial paycheck protection funding this summer, we'll also be proposing a targeted second round of the PPP with a special eye toward hard hit businesses,” McConnell said. “And speaking of building on what worked in the Cares Act, we want another round of direct payments, direct payments to help American families keep driving our national comeback." 3375
With increased expenditures and decreased tax revenues, the debt owed by the US federal government is expected to exceed the GDP of the US in 2021, according to a government analysis.On Wednesday, the Congressional Budget Office released the updated figures showing that the federal government’s debt is projected to be 104% of the size of the economy in fiscal year 2021. 2021 is expected to be the first time since 1946 that the amount of debt is larger than the size of the economy.The CBO’s projection shows that the debt is expected to remain larger than the size of the economy through the upcoming decade.For several decades following World War II, the amount of debt the US owed relative to the size of the economy decreased, bottoming out in 1974 at 23%. The US debt began increasing in the 70s and 80s as balanced budgets became more of an exception. The last time the US had a balanced budget was in 2001. While the US debt burden decreased for most of George W. Bush’s presidency, it began to skyrocket amid the last recession.The CBO says that while 2020 saw a slight decline in revenue, the year saw a massive increase in government spending amid the coronavirus pandemic.To see the full analysis, click here. 1231
WEST PALM BEACH, Fla. — While the demand for guns is cooling off, sellers say there is still a nationwide shortage of ammunition, and it's unclear when inventory will return to normal.The owner of Guns and Range Training Center in West Palm Beach said most gun sales during the COVID-19 pandemic have been to first-time buyers, making up 80% of sales.Gun owner Rita Gonzalez is no beginner, and this year she has helped many of her friends become first-time gun owners."Just with everything going on and stuff, they just feel safer having them," Gonzalez said. "It's like my happy place. I go. I shoot. I release stress. I like it." 640
While millions of Americans tuned in to watch the first presidential debate between President Donald Trump and Democratic presidential nominee Joe Biden, data shows the event will likely not impact the final outcome of the election.The first of three presidential debates was held Tuesday night in Cleveland, Ohio.NewsChannel 5 Political Analyst Pat Nolan said the first debate always brings high stakes for the candidates and high interest from voters."This is probably the biggest opportunity for both candidates to get in front of voters and convince them they are the right person," said Nolan.While people tuned in to hear what both candidates had to say, Nolan said polls show the debate ultimately won't sway voters."I think people have decided, I like Donald Trump and I will vote for him, or I like Joe Biden, I will vote for Joe Biden and they won’t change their minds," said Nolan.The debate was held in Ohio, which is considered a swing state. Nolan said while the number of undecided voters may be smaller in the current polarizing political climate, winning those votes matters and can make a difference in swing states.While both President Trump and Biden presented their plans for the country and tried to energize supporters, Nolan said many were watching for a viral moment that could make or break either candidate."It's like any big event, when you are up on the stage and the bright lights are out there, anyone can make a mistake."There are still two more debates coming up in October. The second presidential debate will be Oct. 15 in Miami, and the final debate will be Oct. 22 at Belmont University in Nashville.This story was first reported by Emily Luxen at WTVF in Nashville, Tennessee. 1722
WILLIAMSVILLE, NY — Rep. Chris Collins, who was charged with insider trading Wednesday, has announced in a statement that he will be suspending his campaign for re-election to Congress in New York's 27th District. Collin's Statement: 266