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The federal government is running up its credit bill again.The deficit rose to 9 billion in fiscal year 2018, up 17% from last year, according to final figures released Monday by the Treasury Department. That's the largest number since 2012, when the country was still spending massively to stimulate an economy struggling to recover.Government receipts were flat this year from last year. Corporate tax collections fell billion, or 22%, due to the Republican-backed tax cut. But that drop was more than offset by increased revenues from individual and self-employment taxes. The fiscal year ended September 30.Spending rose 3% over the previous year, fueled in part by increases to the defense budget agreed upon in September 2017 as part of a deal between Republicans and Democrats to head off a government shutdown. Social Security and interest on the federal debt also contributed to the increase.The Committee for a Responsible Federal Budget, a think tank that warns of the dangers of rising debt levels, said the deficit could reach trillion as soon as next year. That would still be below a high of .4 trillion reached in 2009, but in a vastly different economy."Those elected to Congress this year will face stark and difficult choices to put the debt on a downward path and protect our nation's social programs from insolvency," said Maya MacGuineas, the group's president. "It's no longer a problem for the future."The White House has steadfastly defended its policies, arguing that the yawning gap is a reason to cut deeper into social programs to balance out increases to the military budget. It's a long way from the Republican stance under President Barack Obama, when the GOP-led House demanded about trillion in budget cuts over 10 years in exchange for a debt ceiling increase, leading to years of painful automatic reductions to federal spending.White House budget director Mick Mulvaney, a notable debt hawk while he was a congressman, said the numbers underscored a need to cut spending."The president is very much aware of the realities presented by our national debt," Mulvaney said in a statement. "America's booming economy will create increased government revenues — an important step toward long-term fiscal sustainability. But this fiscal picture is a blunt warning to Congress of the dire consequences of irresponsible and unnecessary spending."His comments echoed remarks by Treasury Secretary Steven Mnuchin last week in an interview with CNN suggesting that Democrats' resistance to cutting government spending on education, health care and other social programs was to blame for deficit increases."People are going to want to say the deficit is because of the tax cuts. That's not the real story," Mnuchin told CNN. "The real story is we made a significant investment in the military which is very, very important, and to get that done we had to increase non-military spending."Not many non-military spending categories increased, however. Outlays for the departments of Housing and Urban Development, Transportation, Energy and Education all decreased, while Health and Human Services and Veterans Affairs increased slightly. The Agriculture Department saw a 7% bump from last year.The deficit figure is?in line with what the Congressional Budget Office, the official government scorekeeper of federal fiscal policy, projected earlier this month. In June, the CBO projected that the deficit would rise to 9.5% of GDP in 2018.Also in June, the federal debt — which aggregates annual deficits over time — stood at 78% of gross domestic product, the highest level since right after World War II. Updated figures were not immediately available on Monday.As interest rates rise, servicing that ballooning debt could pose challenging. Treasury spent 2 billion last year paying interest, up 14% from the year before. That's more than the cost of Medicaid, food stamps, and the department of Housing and Urban Development combined. But it is smaller as a percentage of GDP than it has been historically.In late September, the House passed a bill that would extend individual tax cuts that are currently are slated to end in 2025, at a cost of 1 billion over a 10-year window. 4260

The COVID-19 pandemic has impacted businesses and industries around the country as unemployment rates are at historic highs and many are wondering how and when our economy will recover."One of the biggest impacts is going to be on workers' wages. They’re not going to recover for years. So we’re going to see zero wage increases probably for several years moving forward more than the Great Recession (of 2008 and 2009) because this hit was more than the Great Recession," says Jack Strauss, the Chair of Applied Economics at the University of Denver.Strauss predicts wages will likely stay stagnant in almost all industries. In some cases, some people will see their wages go down."This is the first time many are being cut. University of Arizona, University of Denver, where I’m from, and other universities, we have had wage cuts of 5-10%. Didn’t happen in 2008; we were frozen. But this is the first time 5-10%" says Strauss.In California, the Fresno Regional Workforce Development Board works to help businesses find qualified workers and the unemployed find their next job. Executive Director Blake Konczal says he doesn't expect people to start to really look for another job until unemployment benefits run dry. But once they do, there will be a mad dash for any available jobs."When you’re looking for work, when unemployment is that rampant, the question regrettably isn’t, ‘Why aren’t I getting a higher wage?’ People want a wage," says Konczal.The good news, though, is that economists don't expect the cost of living to increase much.“Because wages have been low, demand has been low, so the cost of living has only gone up gradually," says Strauss.But with high unemployment and few wage increases, people will likely be spending less."That negative effect will be moving forward in a lot of industries relying on discretionary items because you're still going to buy food, because that’s a necessity, but you’re not going to go on a vacation, you’re not going to buy a new car," says Strauss.Konczal is worried about how this economic downturn will affect small businesses…“And the people who worked for them,” Konczal said. “In nine out of 10 times those types of businesses are the strength of our economy, sets us apart. But in this particular quixotic COVID environment, they’re the ones who are really getting hammered."Even before the pandemic, experts say there was still a high demand for qualified employees. And just like the Great Recession, our new economic reality could have some people heading back to school in order to land a job or higher wage. 2585

The Department of Veteran's Affairs (VA) is facing a huge undertaking as COVID-19 vaccines roll out to the general public.More than 418,000 healthcare workers and 10 million patients will eventually get the COVID-19 vaccine through the VA.The department received 73,000 doses of Pfizer's COVID-19 vaccine this week, and residents and staff at long term communities run by the department are first in line to be inoculated.There are about 17,500 veterans living in VA long-term care facilities across the country, and several thousand more work in those centers.The vaccine could not have arrived sooner for those staff members and patients."I know a lot of VA medical centers are going through COVID surges right now, alongside with their communities," said Dr. Jane Kim, the Chief Consultant for Preventive Medicine at the VA.Most vaccines are mandatory for military members. For now, the COVID-19 vaccine is still voluntary. That's likely due to the limited supply of the vaccine and because it's only under Emergency Use Authorization right now.Still, veteran doctors want to reassure their patients."I got the vaccine yesterday," Kim said. "I had a sore arm yesterday, but my arm feels good today. I feel fine today. I would recommend this vaccine to my family and also my patients when it's available for them and it's their turn."More than 5,500 veteran patients and 87 VA staff members have died of COVID-19 since the start of the pandemic. That doesn't include state-run veteran's homes.The VA is not responsible for providing COVID-19 vaccines to those state-run veteran's homes. 1596

The festival is organized by KPBS in partnership with the Film Consortium San Diego. The festival is funded in part by a grant from the California Arts Council. Additional support provided by Scatena Daniels Communications. The festival is a proud member of the San Diego Veterans Coalition and the San Diego Military Family Collaborative.TO VISIT THE SITE OR FOR MORE INFORMATION, GO TO: https://gifilmfestivalsd.org/2020/ 431

The end of net neutrality is now scheduled for next month.The Federal Communications Commission said in a notice filed Thursday that new rules repealing the net neutrality protections are set to take effect 30 days from this Friday, or June 11."Now, on June 11, these unnecessary and harmful internet regulations will be repealed and the bipartisan, light-touch approach that served the online world well for nearly 20 years will be restored," Ajit Pai, chairman of the FCC, said in a statement Thursday.The Republican-led FCC voted along party lines in December to repeal the Obama-era net neutrality rules, which were intended to prevent internet providers from blocking, speeding up, or slowing down access to specific online services.The FCC previously said that parts of the repeal order would take effect on April 23. The rest of the order required the approval of the Office of Management and Budget, which the FCC says it received earlier this month.The new timeline comes as net neutrality advocates make a last ditch effort to undo the repeal.Related: Trump administration sends mixed messages on big mediaSenate Democrats are currently pushing for a vote on a bill to overturn the decision as soon as next week. Even if the resolution passes the Senate, it still faces an uphill battle in the House.Gigi Sohn, a counselor to former FCC chairman Tom Wheeler, recently told CNN that the future of net neutrality will likely "stay murky" through the remainder of this calendar year, "at the very least."More than 20 states have filed a lawsuit to stop the net neutrality repeal. Several states, including New Jersey, Washington, Oregon and California, have gone so far as to push legislation to enforce the principles of net neutrality within their borders.This local legislation could lead to a legal showdown, however.A spokeswoman for the FCC previously directed CNNMoney to a section of the final order for net neutrality, in which the FCC asserts authority to prevent states from pursuing laws inconsistent with the net neutrality repeal."You do have a number of states who have passed rules and they haven't really implemented them because if they do they will be sued by the operators."It's patently illegal for the states to make their own internet policy," says Roslyn Layton, a visiting scholar at the American Enterprise Institute who served on President Trump's transition team for the FCC.Layton expects telecommunications companies will sue the states if they try to enforce the protections.  2527

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