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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 Department of Housing and Urban Development is charging Facebook with violating the Fair Housing Act.HUD on Thursday said the social media giant is violating the federal act by "encouraging, enabling, and causing" housing discrimination through its advertising platform."Facebook is discriminating against people based upon who they are and where they live," HUD Secretary Ben Carson said in a statement. "Using a computer to limit a person's housing choices can be just as discriminatory as slamming a door in someone's face."Last August, HUD 560

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 newborn babies at a Kansas hospital are ready for "Frozen 2," even if they're a little bit young for a trip to the movie theater.The staff at 158

TEXAS — A transgender woman whose brutal assault in April was captured on video has been found dead on a Dallas street, police said.Police responded to a report of a shooting in the 7200 block of Valley Glen Drive around 6:40 a.m. Saturday, Dallas Police Major Vincent Weddington said."Upon arrival, officers found the complainant lying face down in the street -- deceased from homicidal violence," Weddington said during a news conference on Sunday.The woman was not carrying identification but the medical examiner positively identified her as Muhlaysia Booker on Sunday afternoon, he told reporters.In a separate incident last month, Booker, 22, 660

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