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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

The mystery of what happened to Jimmy Hoffa plays a starring role in the new movie, “The Irishman.” The film tells the tale of alleged hit man Frank Sheeran - pulling the trigger on the legendary Teamsters boss.But Hoffa experts say the story is not based in fact. Harvard Law Professor Jack Goldsmith has a very unique connection to the case, to help determine the truth from the tale.It’s been hailed for the amazing acting, and epic directing, but “The Irishman” truly is a work of fiction when it comes to the storyline about Jimmy Hoffa.The legendary Teamsters leader vanished on July 30, 1975. He was last seen in the parking lot of the Machus Red Fox restaurant in Bloomfield Hills. Hoffa thought he was going to a reconciliation meeting with two mob bosses – New Jersey Teamsters official Tony Provenzano and Detroit mafia captain Tony Giacalone.“The Irishman” glorifies the late Teamster and alleged hit man Frank Sheeran. Sheeran’s so-called confession that he killed Hoffa at the mob’s request was made public in 2003 when author Charles Brandt released the book “I Heard You Paint Houses.” The movie brings that story to life on the big screen – but Hoffa experts say it’s historically just plain wrong."Good art, bad history," says Goldsmith. Goldsmith used to work at the highest levels of the Department of Justice. He’s also the stepson of Chuckie O’Brien – Hoffa’s foster son who was once thought to have driven Hoffa to his death.Goldsmith’s recent book “In Hoffa’s Shadow” reveals what the FBI case agents really think happened to Hoffa."Sheeran was not involved in killing Hoffa," he says. "And he wasn’t actually nearly as close to Hoffa as he was portrayed in the film."Goldsmith says the feds watched a video of Sheeran’s alleged confession—and call it a lie. "They all think it’s preposterous," he says.Goldsmith says Sheeran was caught on FBI surveillance tape telling close friends he wasn’t even in Detroit on the day Hoffa vanished."He had gas receipts, he was at dinner that evening," Goldsmith says. "Nowhere near Detroit, there were 18 people who saw him and he even said in a letter soon thereafter that he gave the FBI all of that evidence why he wasn’t in Detroit."In the movie, Sheeran shoots Hoffa in the vestibule of this home on Beaverland St. on Detroit’s west side.Investigators removed some of the floorboards where blood was found back in 2004 – but the blood did not belong to Hoffa."There’s zero evidence – none at all – that connects Hoffa or Sheeran being there," Goldsmith says.Goldsmith says his stepfather, Chuckie O’Brien hasn’t watched the movie – but he suspects O’Brien would be upset that he’s still being portrayed as the driver who picked Hoffa up at the restaurant. Goldsmith says the feds believe the known whereabouts of O’Brien that day make that impossible- and they no longer consider O’Brien a suspect."He would not have had time to have gone to the Machus Red Fox, picked up Hoffa, and taken him somewhere else," Goldsmith says. Goldsmith also says Sheeran’s claim that they picked Hoffa up at 2:45 contradicts the 3:30pm phone call Hoffa made to his wife from a pay phone in the parking lot."There’s evidence he called his wife Josephine out at the lake where they lived," Goldmisth says. "At 3:30 in the afternoon, that he was tired of waiting for Anthony Giacolone, and that he was going to come home And then that’s the last thing we know about Hoffa. WE literally don’t have any evidence about what happened other than he disappeared."The U.S. Attorney in Detroit recently told us there’s more to come on the Jimmy Hoffa case.This summer marks the 45th anniversary of Hoffa’s disappearance. As for The Irishman, 3694

The NHL and the NHL Player Association reached an agreement Friday night to move forward on a plan to resume the season, starting with a 24-team playoff. The season was suspended on March 12, as most teams had completed roughly 70 games of an 82-game schedule. The regular season was set to conclude in April, with the 16-team Stanley Cup Playoffs extending into early June. The resumption plan calls for 24 teams to participate in a playoff, while the bottom seven clubs would effectively have their seasons finished."The Executive Board of the National Hockey League Players’ Association (NHLPA) has authorized further negotiations with the NHL on a 24-team return to play format to determine the winner of the 2020 Stanley Cup,” the NHLPA said in a statement. “Several details remain to be negotiated and an agreement on the format would still be subject to the parties reaching agreement on all issues relevant to resuming play."Earlier this week, NHL Commissioner Gary Bettman said that the season could resume with games being played in centralized locations. This would eliminate the need for travel and additional exposure to the coronavirus among players and team personnel. Bettman said that access to tests will remain a key issue in resuming the NHL season. 1282

The driver accused of ramming into dozens of people on the Las Vegas Strip in 2015 talks to @KTNV. Lakeisha Halloway says she’s remembers “glimps” of that night and is truly sorry. Story at 5pm/6pm. pic.twitter.com/VpQrtoGmRD— Cinthia Maldonado (@CinthiaKtnv) March 21, 2019 286

The Federal Reserve on Wednesday voted to hold interest rates steady and shaved its growth forecast.Fed officials, who gathered in Washington for their two-day policy setting meeting, unanimously recommitted to remain "patient," agreeing to indefinitely stick with an extended pause on rate changes. They signaled that the Fed wouldn't hike rates in 2019.The US economy, while steady, faces a number of risks. In a statement, the Fed's policy-setting Federal Open Market Committee said that the country's labor market "remains strong," but economic activity has "slowed from its solid rate in the fourth quarter," citing sluggish spending by households and reduced business investment.The majority of Fed officials -- 11 total -- now anticipate holding rates steady for the remainder of 2019. Only six participants forecast at least one additional rate hike this year.Last December, the Fed 903

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