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The budget deficit over the last 12 months (4 billion or 4.4% of GDP) is at its highest level since 2013Revenue as a share of GDP is at its lowest level since 2013 pic.twitter.com/gGopPnOelw— Nick Timiraos (@NickTimiraos) March 5, 2019 250
The General Motors strike has caused a major disruption in the supply of auto parts to mechanics. Hannah Pelletier of Davis Auto Repair got the last brake module in her town to fix Chevy Suburban. “With the strike, we’re seeing parts take a week to two weeks,” said Pelletier.Pelletier said the typical wait is one to two days. “We normally get daily shipments and right now the shipments ha been sporadic,” said David Hunn, the service manager at Ed Bozarth Chevrolet in Aurora, Colorado. It’s not just the independent repair shops either. GM dealerships like Ed Bozarth's also in Aurora doesn’t know when their deliveries are coming. "Right now I’ve got three vehicles that are tied up waiting on parts,” Bozarth said.Hunn said one of his customers has been waiting three weeks to get their car fixed. There’s nothing he can do right now. He can’t fix it without the right pieces. In a statement, GM said dealers have a limited supply of parts, but that they're supplementing with inventory from wholesale dealers and other suppliers. The company says its ability to ship from distribution centers is limited. “Being an independent shop, our employees are very important to us. So if they felt they weren’t being taken care of we would want to do what we can because they’re what builds my business,” said Pelletier. Pelletier said she understands why the workers went on strike. But that doesn’t change the fact that she still needs parts to fix cars. “I would say if we had it for another month, that’s when we’re really going to start feeling it,” said Pelletier And dealerships like Ed Bozarth have been well stocked. “We do have a really good inventory plus we have two dealerships in town that we, we trade parts back and forth with,” said Hunn. But both David and the workers in his shop admitted that the lack of deliveries is putting a strain on them to get things done on time. 1905

Texas authorities say a search for a suspect continues after two people were killed and five others were injured following a shooting during a concert inside a San Antonio club. Police say officers were called shortly after 8 p.m. Sunday to the Ventura, a music venue located along San Antonio's Museum Reach portion of the River Walk. San Antonio Police Chief William McManus tells KENS-TV that an argument led to the shooting of several patrons. One victim died at the scene, and another six were transported to a hospital, where one was pronounced dead shortly after arrival. 590
The Centers for Disease Control and Prevention is warning consumers in the US not to eat, serve or sell any Cavi brand whole, fresh papayas because they "are likely the source" of a salmonella outbreak.The 217
The Dow fell 460 points Friday as a leading indicator of a US recession and concern about a global slowdown spooked investors.The index shed 1.8%, while the S&P 500 closed down 1.9%. The Nasdaq plunged 2.5%. It was the worst performance for all three major indexes since January 3.The yield on 3-month Treasuries rose above the rate on 10-year Treasuries for the first time since 2007 — a shift that scared Wall Street. Investors have piled back into stocks after a sell-off in late 2018.The flattening yield curve, or the difference between short- and long-term rates, has worried investors for months. A narrowing spread is typically seen as sign that long-term confidence in the economy is waning, which could signal an eventual economic contraction.Friday's flip added to pressure on the Dow that was building before US markets opened.The index stumbled at the bell on poor manufacturing data from Germany, which also spelled trouble for the country's bond market. The yield on Germany's benchmark 10-year government bond fell below zero for the first time since October 2016.All of that news is fueling Wall Street's ongoing concerns about slowing global growth.White House economic adviser Larry Kudlow told CNBC last year that the spread between 3-month and 10-year Treasury yields was important to watch."It's actually not 10s to 2s; it's 10s to 3-month Treasury bills," Kudlow 1402
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