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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 major television networks will provide wall-to-wall coverage of President Donald Trump's prime time address on border security on Tuesday.NBC, ABC, CBS and Fox broadcast network all said on Monday that they had agreed to the White House's request for air time.CNN, Fox News and MSNBC will all carry the address live, as well.Presidents have been using Oval Office addresses to make big announcements for decades. But this is Trump's first time using the setting for an address to the nation. On Monday the White House requested air time for the speech, as is customary in the relationship between a president and the press.But for a few hours, it was unclear what the networks would do.Trump announced his plan for the 9 p.m. ET Tuesday address via Twitter. In his tweet, he characterized the situation on the border as a "national security crisis," a description that even some people in his own party reject.In response, a broadcast network executive said "time has been requested for 9 p.m. Networks are deliberating."The broadcasters have been known to resist presidential requests for air time for a variety of reasons, including the perceived urgency of the subject and the popularity of the shows that would be interrupted.With Trump, there were other factors to consider, including his record of deception and his tendency to ramble off script in long speeches.Many Trump critics posted messages on social media urging the networks not to air an address that could be filled with falsehoods. Some said that a prominent Democrat should be given equal time. It is unclear if any sort of Democratic rebuttal is in the works.With all that in mind, network newsrooms were abuzz with speculation about what the broadcasters would decide, since it was sure to be controversial either way.CBS was the first of the broadcasters to say it would go ahead and carry the address. Then NBC, ABC and Fox broadcast network said the same. There's no word on a decision from PBS yet.There is precedent for broadcast networks declining to air a presidential speech. In 2014, ABC, NBC, and CBS declined to carry an 2119

The cosmopolitan issued a statement that it was over capacity at a pool party why I was banned but told me I would be arrested just for stepping on their property even if I went to eat on the property “not at the pool party” doesn’t even make sense— Meek Mill (@MeekMill) 285

The co-founders of Lloyd Taco Truck held a news conference Monday morning to address the recent controversy surrounding one truck serving lunch at the ICE detention center in Batavia, New York.On Friday, the Lloyd account posted on social media after serving lunch at a federal detention facility in Batavia that includes offices for U.S. Immigration and Customs Enforcement. The post explained that the company thought that business decision was a "poor choice," and that it was not proud of serving lunch at the facility because Lloyd has close ties to immigration services throughout Western New York.The post was picked up quickly on social media, and generated thousands of responses. On Monday, owners Pete Cimino and Chris Dorsaneo addressed the controversy outside Lloyd Taco Factory on Hertel Avenue. 823

The call came late one morning, and her world changed in an instant."The reason for this call is to inform you your card has been suspended for reasons of suspicious activity," the caller said."Ann," who agreed to an interview only if we changed her name, says the caller told her she was in trouble with the law."He identified himself as an agent. He said my Social Security number was misused, and that I now had 25 bank accounts, I had illegal drug activity, and have a warrant out for my arrest for money laundering," she said.The mom of three school-aged girls was shaken. She had never had legal trouble before, and here she learned that thieves were using her Social Security number to open multiple accounts and sell drugs — crimes that could land her in jail if she did not act fast."He said I needed to prove that I only have two bank accounts, not 25, and I needed to empty my accounts," Ann said. The caller became more hostile, and told Ann there was no time to discuss her case with anyone, especially her husband."All I could think about was, 'I am going to go to jail,' I have my kids with me, and I am thinking, 'I have to do this, I have to get this done,' " she said.Caller gives instructions to avoid jailFor Ann to clear her name and avoid arrest, the agent explained she needed to empty her savings account and forward the money to the Social Security Administration, where they would put it in a safe, temporary holding account. The caller was "very believable," she said."I emptied ,000 out of my bank account," the mom said.When the teller asked her why she was withdrawing such a large sum of cash, Ann said, "I lied and told her 'furniture.' " She was too terrified to let the teller know that a federal agent was on the phone listening to the entire transaction.Ann said the caller had such influence over her, she didn't even listen to her own daughter, whom she had brought along to the bank."I wasn't myself at all," she said. "My 13-year-old was like 'Mom that's a lot of money, why are you taking all that money out?' "But calling her husband for advice was not an option. "The guy said, 'don't tell your husband, you will compromise him,' " she said. 2199