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The federal government is running up its credit bill again.The deficit rose to 9 billion in fiscal year 2018, up 17% from last year, according to final figures released Monday by the Treasury Department. That's the largest number since 2012, when the country was still spending massively to stimulate an economy struggling to recover.Government receipts were flat this year from last year. Corporate tax collections fell billion, or 22%, due to the Republican-backed tax cut. But that drop was more than offset by increased revenues from individual and self-employment taxes. The fiscal year ended September 30.Spending rose 3% over the previous year, fueled in part by increases to the defense budget agreed upon in September 2017 as part of a deal between Republicans and Democrats to head off a government shutdown. Social Security and interest on the federal debt also contributed to the increase.The Committee for a Responsible Federal Budget, a think tank that warns of the dangers of rising debt levels, said the deficit could reach trillion as soon as next year. That would still be below a high of .4 trillion reached in 2009, but in a vastly different economy."Those elected to Congress this year will face stark and difficult choices to put the debt on a downward path and protect our nation's social programs from insolvency," said Maya MacGuineas, the group's president. "It's no longer a problem for the future."The White House has steadfastly defended its policies, arguing that the yawning gap is a reason to cut deeper into social programs to balance out increases to the military budget. It's a long way from the Republican stance under President Barack Obama, when the GOP-led House demanded about trillion in budget cuts over 10 years in exchange for a debt ceiling increase, leading to years of painful automatic reductions to federal spending.White House budget director Mick Mulvaney, a notable debt hawk while he was a congressman, said the numbers underscored a need to cut spending."The president is very much aware of the realities presented by our national debt," Mulvaney said in a statement. "America's booming economy will create increased government revenues — an important step toward long-term fiscal sustainability. But this fiscal picture is a blunt warning to Congress of the dire consequences of irresponsible and unnecessary spending."His comments echoed remarks by Treasury Secretary Steven Mnuchin last week in an interview with CNN suggesting that Democrats' resistance to cutting government spending on education, health care and other social programs was to blame for deficit increases."People are going to want to say the deficit is because of the tax cuts. That's not the real story," Mnuchin told CNN. "The real story is we made a significant investment in the military which is very, very important, and to get that done we had to increase non-military spending."Not many non-military spending categories increased, however. Outlays for the departments of Housing and Urban Development, Transportation, Energy and Education all decreased, while Health and Human Services and Veterans Affairs increased slightly. The Agriculture Department saw a 7% bump from last year.The deficit figure is?in line with what the Congressional Budget Office, the official government scorekeeper of federal fiscal policy, projected earlier this month. In June, the CBO projected that the deficit would rise to 9.5% of GDP in 2018.Also in June, the federal debt — which aggregates annual deficits over time — stood at 78% of gross domestic product, the highest level since right after World War II. Updated figures were not immediately available on Monday.As interest rates rise, servicing that ballooning debt could pose challenging. Treasury spent 2 billion last year paying interest, up 14% from the year before. That's more than the cost of Medicaid, food stamps, and the department of Housing and Urban Development combined. But it is smaller as a percentage of GDP than it has been historically.In late September, the House passed a bill that would extend individual tax cuts that are currently are slated to end in 2025, at a cost of 1 billion over a 10-year window. 4260

The cold open of "Saturday Night Live" usually belongs to politics, but on Saturday night it belonged to moms.The mothers of cast members from the NBC variety show took over the beginning of Saturday's episode with many taking jabs at the show's political jokes.Kenan Thompson asked his mother if she liked the show and she responded, "I do, except for all the political stuff. We get it!"Mikey Day introduced his mother and reminded her of the time he was in a production of "The Crucible" in high school."You know, 'The Crucible' is a lot like that witch hunt against President Trump," Day's mother said before Day quickly ushered her off.The mother of the newcomer Luke Null asked, "Why doesn't 'SNL' talk about 'Crooked Hillary'?""Mom, I'm so new here," he said. "Please don't do this to me."As for Chris Redd's mother, she wondered why everyone is focused on Trump rather than "focusing on Jesus.""Okay, well, Jesus isn't president," Redd said."And that's the problem," his mother said back.And "Weekend Update" host Colin Jost asked his mom if she likes the political stuff on the show."I think Alec Baldwin does a great Trump impression," she said. "But why does it have to be so mean? Who writes that stuff?"Jost, who is also one of the show's head writers, hesitated and responded saying he didn't know blaming his "Weekend Update" co-host, Michael Che, who is also a head writer, for the jokes. 1412

The CEOs of Twitter, Facebook and Google are facing a grilling by Republican senators making unfounded allegations that the tech giants show anti-conservative bias.The Senate Commerce Committee has summoned Twitter CEO Jack Dorsey, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai to testify for a hearing Wednesday. The executives agreed to appear remotely after being threatened with subpoenas.With the presidential election looming, Republicans led by President Donald Trump have thrown a barrage of grievances at Big Tech’s social media platforms, which they accuse without evidence of deliberately suppressing conservative, religious and anti-abortion views.The chorus of protest rose this month after Facebook and Twitter acted to limit dissemination of an unverified political story from the conservative-leaning New York Post about Democratic presidential nominee Joe Biden, an unprecedented action against a major media outlet. The story, which was not confirmed by other publications, cited unverified emails from Biden’s son Hunter that were reportedly disclosed by Trump allies.Beyond questioning the CEOs, senators are expected to examine proposals to revise long-held legal protections for online speech, an immunity that critics in both parties say enables the companies to abdicate their responsibility to impartially moderate content.The Justice Department has asked Congress to strip some of the bedrock protections that have generally shielded the tech companies from legal responsibility for what people post on their platforms. Trump signed an executive order challenging the protections from lawsuits under the 1996 telecommunications law.“For too long, social media platforms have hidden behind Section 230 protections to censor content that deviates from their beliefs,” Sen. Roger Wicker, R-Miss., the Commerce Committee chairman, said recently.In their opening statements prepared for the hearing, Dorsey, Zuckerberg and Pichai addressed the proposals for changes to so-called Section 230, a provision of a 1996 law that has served as the foundation for unfettered speech on the internet. Zuckerberg said Congress “should update the law to make sure it’s working as intended.”“We don’t think tech companies should be making so many decisions about these important issues alone,” he said, approving an active role for government regulators.Dorsey and Pichai, however, urged caution in making any changes. “Undermining Section 230 will result in far more removal of online speech and impose severe limitations on our collective ability to address harmful content and protect people online,” Dorsey said.Pichai urged lawmakers “to be very thoughtful about any changes to Section 230 and to be very aware of the consequences those changes might have on businesses and consumers.”Assistant Attorney General Stephen Boyd told congressional leaders in a letter Tuesday that recent events have made the changes more urgent. He cited the action by Twitter and Facebook regarding the New York Post story, calling the companies’ limitations “quite concerning.”The head of the Federal Communications Commission, an independent agency, recently announced plans to reexamine the legal protections, potentially putting meat on the bones of Trump’s order by opening the way to new rules. The move by FCC Chairman Ajit Pai, a Trump appointee, marked an about-face from the agency’s previous position.Social media giants are also under heavy scrutiny for their efforts to police misinformation about the election. Twitter and Facebook have slapped a misinformation label on content from the president, who has around 80 million followers. Trump has raised the baseless prospect of mass fraud in the vote-by-mail process.Starting Tuesday, Facebook was not accepting any new political advertising. Previously booked political ads will be able to run until the polls close next Tuesday, when all political advertising will temporarily be banned. Google, which owns YouTube, also is halting political ads after the polls close. Twitter banned all political ads last year.Democrats have focused their criticism of social media mainly on hate speech, misinformation and other content that can incite violence or keep people from voting. They have criticized Big Tech CEOs for failing to police content, homing in on the platforms’ role in hate crimes and the rise of white nationalism in the U.S.Facebook, Twitter and YouTube have scrambled to stem the tide of material that incites violence and spreads lies and baseless conspiracy theories.The companies reject accusations of bias but have wrestled with how strongly they should intervene. They have often gone out of their way not to appear biased against conservative views — a posture that some say effectively tilts them toward those viewpoints. The effort has been especially strained for Facebook, which was caught off-guard in 2016, when it was used as a conduit by Russian agents to spread misinformation benefiting Trump’s presidential campaign.The unwelcome attention to the three companies piles onto the anxieties in the tech industry, which also faces scrutiny from the Justice Department, federal regulators, Congress and state attorneys general around the country.Last week, the Justice Department sued Google for abusing its dominance in online search and advertising — the government’s most significant attempt to protect competition since its groundbreaking case against Microsoft more than 20 years ago.With antitrust in the spotlight, Facebook, Apple and Amazon also are under investigation at the Justice Department and the Federal Trade Commission.___Follow Gordon at https://twitter.com/mgordonap. 5687

The COVID-19 pandemic has impacted businesses and industries around the country as unemployment rates are at historic highs and many are wondering how and when our economy will recover."One of the biggest impacts is going to be on workers' wages. They’re not going to recover for years. So we’re going to see zero wage increases probably for several years moving forward more than the Great Recession (of 2008 and 2009) because this hit was more than the Great Recession," says Jack Strauss, the Chair of Applied Economics at the University of Denver.Strauss predicts wages will likely stay stagnant in almost all industries. In some cases, some people will see their wages go down."This is the first time many are being cut. University of Arizona, University of Denver, where I’m from, and other universities, we have had wage cuts of 5-10%. Didn’t happen in 2008; we were frozen. But this is the first time 5-10%" says Strauss.In California, the Fresno Regional Workforce Development Board works to help businesses find qualified workers and the unemployed find their next job. Executive Director Blake Konczal says he doesn't expect people to start to really look for another job until unemployment benefits run dry. But once they do, there will be a mad dash for any available jobs."When you’re looking for work, when unemployment is that rampant, the question regrettably isn’t, ‘Why aren’t I getting a higher wage?’ People want a wage," says Konczal.The good news, though, is that economists don't expect the cost of living to increase much.“Because wages have been low, demand has been low, so the cost of living has only gone up gradually," says Strauss.But with high unemployment and few wage increases, people will likely be spending less."That negative effect will be moving forward in a lot of industries relying on discretionary items because you're still going to buy food, because that’s a necessity, but you’re not going to go on a vacation, you’re not going to buy a new car," says Strauss.Konczal is worried about how this economic downturn will affect small businesses…“And the people who worked for them,” Konczal said. “In nine out of 10 times those types of businesses are the strength of our economy, sets us apart. But in this particular quixotic COVID environment, they’re the ones who are really getting hammered."Even before the pandemic, experts say there was still a high demand for qualified employees. And just like the Great Recession, our new economic reality could have some people heading back to school in order to land a job or higher wage. 2585

The counting is over. Now, the recounting begins.More than three days after the polls closed in Florida, the secretary of state announced on Saturday afternoon that the razor-thin races for governor, senator and agriculture commissioner will be reviewed in a series of recounts.According to unofficial results filed by the counties, Republican Gov. Rick Scott leads incumbent Democratic Sen. Bill Nelson by more than 12,500 votes, or about .15%. The spread in the governor's race is larger, with Republican former Rep. Ron DeSantis ahead of Democratic Tallahassee Mayor Andrew Gillum by nearly 34,000 votes, for a lead of .41%. In the narrowest contest, Democratic agriculture commissioner Nikki Fried's advantage stands at 5,326 votes — just .06% — over Republican Matt Caldwell.With the margins in all three contests at under .5%, the votes will now be recounted by machine. That process must be finished by Thursday at 3 pm ET. Races within .25% will then go to a hand recount of overvotes and undervotes. An overvote means a voter selected more than the allotted options on the ballot; an undervote means a vote selected fewer than the available choices or, in these races, none. The Senate race and the contest for agriculture commissioner both currently both fall within .25%.The Senate race and the contest for agriculture commissioner both currently both fall within .25%.In a statement after the unofficial count was made public, Scott's campaign called on Nelson to opt out of a recount, which is his option under state law."It's time for Senator Nelson to accept reality and spare the state of the Florida the time, expense and discord of a recount," said Scott spokesman Chris Hartline.While the politicians tweeted and activists kicked off new protests this weekend, demonstrators on the streets outside the Broward County Supervisor of Elections office on Friday targeted Snipes, chanting "lock her up" and "fake votes don't count" as she and others worked inside trying to finish the initial vote count. "Make America Great Again" and "Trump 2020" signs and hats were also visible as a group carrying signs supporting Scott and DeSantis were met by another backing the Democrats, as nose-to-nose screaming matches nearly escalated into physical altercations.Scott escalated already rising tensions across the state on Thursday night, when in a news conference he took a page from President Donald Trump and, without citing any evidence, accused "left-wing activists in Broward County" of trying to steal the election for Nelson. The county, in deep-blue portion of South Florida, is notoriously slow in counting its votes and as its tally mounted, Scott's lead had predictably diminished. In a series of tweets on Friday, Trump picked up the thread and accused the Democrats of attempting "Election Theft in Broward and Palm Beach Counties."But Scott's request for an investigation into election-related fraud did not go far. On Friday, the Florida Department of Law Enforcement said it was told by the Department of State, which is run by a Republican Scott-appointee, that they had received "no allegation of criminal activity." Still, Scott's campaign issued an ominous-sounding statement on Saturday morning "encouraging every Florida Sheriff to watch for any violations and take appropriate action."Meanwhile, Nelson's campaign filed suit against the state over its process for validating vote-by-mail ballots.Democratic lawyer Marc Elias, who is running the Nelson recount effort, argued that Florida's signature matching process put an undue onus on the "untrained opinions" of poll workers, which led to a "complete lack of uniformity" in how the ballots were being judged."This serves as an outright disenfranchisement and burden on the right to vote," Elias told reporters on a call Friday.South Carolina Sen. Lindsey Graham has also injected himself into the fight, alleging on Thursday and Friday -- like Scott and the President, with no proof -- that there are "shenanigans going on in Broward and Palm Beach" before suggesting that a sinister cabal of liberals from Washington was at work trying to rig the election. In fact, out-of-state lawyers from both parties, including a handful who had significant roles 18 years ago, have been flocking to Florida ahead of the recount.Leading a call for Scott's campaign on Saturday, Graham touted Scott's legal team and again skewered Broward and Palm Beach election officials for their lack of transparency."Rick has a good team of lawyers," Graham said. "Lawyers are not going to decide this race, the voters will. I support every valid vote being counted. But I also support the rule of law when it comes to voting."Around the state on Friday, allegations and rumors of misplaced or lost votes fueled simmering anger and confusion as the campaigns, lawyers, operatives and freelance rabble-rousers girded themselves for a re-run of the pitched partisan combat that took over the state during the 2000 presidential recount.Outside a mail distribution center in Miami-Dade County, a group of activists with images they said showed undelivered ballots inside tried and failed to get a meeting with a supervisor. Later in the day, a spokeswoman for the U.S. Postal Service said it was "researching the matter to verify that all ballots have been handled in accordance to USPS service standards."Detailed updates on the state of the race had been hard to come by ahead of Sunday's noon reporting deadline, leading Scott to successfully sue top election officials in Broward and Palm Beach Counties for information on the total votes cast and how many of them had been canvassed.In Broward, Supervisor of Elections Brenda Snipes turned over information to Scott and his team for review late Friday. But before midnight, the campaign pushed out a new press release claiming Snipes had not fully complied with the court order "because she refuses to confirm whether or not additional ballots exist that must be counted."Adding to Broward County's troubles, a CNN analysis of votes cast there suggests that ballot design could be responsible for a substantial difference in the number of votes cast between the race for governor and the race for senator in Florida. 6239

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