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The Congressional Budget Office said Monday that the U.S. economy could be .7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus.The CBO, which had already issued a report forecasting a severe economic impact over the next two years, expanded that forecast to show that the severity of the economic shock could depress growth for far longer.The new estimate said that over the 2020-2030 period, total GDP output could be .7 trillion lower than CBO had been projecting as recently as January. That would equal 5.3% of lost GDP over the coming decade.After adjusting for inflation, CBO said the lost output would total .9 trillion, a loss of 3% of inflation-adjusted GDP.CBO called this a “significant markdown” in GDP output as a result of the pandemic.“Business closures and social distancing measures are expected to curtail consumer spending, while the recent drop in energy prices is projected to severely reduce U.S. investment in the energy sector,” CBO Director Philip Swagel said in a letter.“Recent legislation will, in CBO’s assessment, partially mitigate the deterioration in economic conditions,” Swagel said in the letter to Sens. Chuck Schumer, D-N.Y., and Bernie Sanders, I-Vt. The two had requested the information as a way to pressure Republicans to follow the lead of the House and pass more economic relief.“Last week we learned that over 40 million Americans lost their jobs as a result of this horrific pandemic,” Schumer and Sanders said in a joint statement. “Today, the CBO tells us that if current trends continue, we will see a jaw-dropping trillion reduction in economic growth over the next decade.”Schumer and Sanders said Republicans should stop blocking legislation to provide more assistance given that 40 million workers have lost their jobs already.“In order to avoid the risk of another Great Depression, the Senate must act with a fierce sense of urgency,” Schumer and Sanders said.The CBO is forecasting that the GDP, which shrank at a 5% rate in the first three months of this year, will fall at a 37.7% rate in the current April-June quarter, the biggest quarterly decline on record.The CBO also issued a separate report detailing a cost estimate for a .4 trillion COVID-19 rescue bill that passed the Democratic-controlled House in mid-May. That legislation is built around 5 billion in aid to state and local governments, another ,200 payment to most American workers, and additional aid to colleges and local school districts. The price tag is slightly higher than a back-of-the-envelope figure provided by Democrats when the measure passed.Senate Republicans have dismissed the proposal as a wish list but have yet to unveil any proposal to counter it. 2817

Tedy's Team has issued the following statement on behalf of the Bruschi family. pic.twitter.com/CuwmHobvl3— Tedy's Team (@TedysTeam) July 5, 2019 157

The city of El Paso, Texas spent the day grieving and paying respects to the victims killed in a mass shooting Saturday. Multiple vigils were held in the city, honoring the 20 people who lost their lives after a gunman opened fire at a Walmart near the Cielo Vista Mall. Police received calls reporting a gunman in the area just after 10:30 a.m. local time.Bishop Jesus Ibarra held a special mass Sunday at La Paz Faith Memorial and Spiritual Center. “It hurts me to see the extent of violence, especially when it’s people who have nothing to do with the events that happened,” Bishop Ibarra said.The shooting hit the community hard. Twenty roses were displayed for the 20 lives lost in the attack. It’s a scene the bishop could have witnessed in person had he followed his usual routine. “That’s my Walmart,” he explained. “Every first Saturday of the month, I go stock up. I’m there from 9 to 11:30, but I didn’t go that day.” Members of the community gather at the vigils, looking for ways they can help.“Pretty tough, but all we can do now is remain together and don’t change who we are as people,” said the bishop, as he wiped away his tears.Perches Funeral Home, which is part of the La Paz Faith church, is working to help the families of the victims. “Everyone is putting their own part, so we are going to be offering the family free services for their loved ones,” said Jorge Ortiz with the funeral home.Ortiz says the El Paso community is based off love and unity, and love is needed more than ever in El Paso. “Without love, there is nothing,” said Bishop Ibarra. “We are nothing.” 1607

The hunt for a real-life Christmas Grinch is on in Westland, Michigan. A family who decorates their home every year with shining bright lights and Christmas inflatables was vandalized overnight.The McCarthy family says they put out the Christmas display every year. They love the holiday season, and now a Grinch is trying to take that spirit away."I was very angry at first and then I got very upset and cried," said Carol McCarthy.It’s not hard to miss the McCarthy home in Westland during the holiday season."People enjoy it," Carol said. "They come by, they like it. I get a lot of compliments on it and we do it because it just looks pretty." 659

The Justice Department is moving to drop charges against two Russian companies that were accused of funding a social media campaign to sway American public opinion during the 2016 U.S. presidential election. Concord Management and Consulting LLC and Concord Catering were among three companies and 13 individuals charged in 2018 by special counsel Robert Mueller. The indictment alleged a conspiracy to spread disinformation on social media during the 2016 presidential race. Officials said the effort included social media postings and campaigns aimed at dividing American public opinion and sowing discord in the electorate. 638