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SAN DIEGO (KGTV) -- Economic forecasters are beginning to warn of a possible 2020 recession, and the impact they say will be felt in the Golden State, according to a new report by UCLA.“Don’t celebrate the 3.1% GDP growth estimate for the first quarter of 2019,” writes UCLA Anderson Professor Emeritus Edward Leamer. Leamer is quoted in a recent report produced by the UCLA Anderson School of Management. According to Leamer, the data actually increases the risk of a recession at some point in the next couple of years. Nationally, economic growth is expected to slow marginally to 2.1 percent in the fourth quarter of 2019 and 1.4 percent in the fourth quarter of 2020. RELATED: Fed cuts interest rates for the first time since recessionThe good news is that the report predicts an economic rebound, growing again to 2.1 percent in the fourth quarter of 2021. So what picture does the report paint for California? One forecaster says you can expect California unemployment to rise modestly. “Weakness in housing as well as the slowing U.S. economy is reflected in a very modest growth rate in the U.S. in late 2020,” UCLA Anderson Forecast director Jerry Nickelsburg writes. “As a consequence, we expect California’s average unemployment rate to rise slightly to an average of 4.6% in the first quarter of 2021. For the entire year for 2020 and 2021, we expect average unemployment rates of 4.3% and 4.4%, respectively.”Meanwhile, personal income growth in the state of California is forecast at 2.9 percent in 2019. But the report warns that income growth is expected to slow to 1.9 percent by 2020.It’s not all bad news, however, income growth is expected to rise fairly quickly again in 2021, and is forecast to reach 2.1 percent by the end of the year. There's more good news. The Federal Reserve Wednesday lowered interest rates for the first time since the Great Recession in 2008 to help prevent an economic downturn. 1936
SAN DIEGO (KGTV) -- Defense Secretary James Mattis has signed the extension of troops at the border, a defense official confirmed to ABC News. The extension was requested by the Department of Homeland Security after hundreds of migrants rushed the San Ysidro Port of Entry in a show of force. The move means the troops will be extended through January 31. Two officials told ABC News it’s unclear how many of the 5,600 troops currently at the border will be extended. The source also said there will be a flow-in of new forces as other units flow out because their specialties are no longer needed. Engineering units were named as one of the specialties no longer needed at the southern border. Related StoriesPoll: People having mixed feelings about current border issuesConvicted murderer caught crossing border near San YsidroCaravan marches toward US border in show of force 886
SAN DIEGO (KGTV) -- Famed stand-up comedian Jo Koy is being recognized by the City of San Diego in honor of Filipino American History Month.On Friday, Oct. 16, District 6 City Councilman Chris Cate will proclaim the day “Jo Koy Day” in San Diego. The ceremony, which will take place in Mira Mesa on Friday afternoon, will be emceed by ABC 10News reporter Melissa Mecija.The 49-year-old Jo Koy, whose real name is Joseph Herbert, has established himself as one of the most popular comedians in the world in recent years, with several Netflix specials, sold-out comedy tours, and other media endeavors under his belt.In a statement, Cate, a second-generation Filipino-American, said: “Jo Koy is iconic and a trailblazer. His homage to the Philippines has reached the lives of millions of people worldwide. Filipino cuisine, culture, and arts are flourishing in District 6, and I am excited to celebrate Jo Koy and recognize his accomplishments.”According to Cate’s office, 1 in every 3 District 6 residents is of Asian-American descent. The district consists of Clairemont Mesa, Kearny Mesa, Mira Mesa, Rancho Pe?asquitos, and Sorrento Valley.Cate’s office added: “Filipino American History Month commemorates the first recorded presence of Filipinos in the continental United States, which occurred in October of 1587 when Luzones Indios landed at what is now Morro Bay, California. Filipino Americans are the second largest Asian American group in the nation and the third largest ethnic group in California. San Diego is home to one of the largest concentrations of Filipinos, with more than 200,000 Filipinos residing in America’s Finest City.” 1654
SAN DIEGO (KGTV) - Folk singer Art Garfunkel will perform in San Diego in April.Garfunkel was half of the duo Simon & Garfunkel in the 1960's. He's expected to perform fan favorites including "Scarborough Fair," "Homeward Bound," "The Sound of Silence" and "Bridge Over Troubled Water".Tickets for the "In Close-Up" show at the Balboa Theatre go on sale Friday at 10 a.m.City News Service contributed to this report. 433
SAN DIEGO (KGTV) -- Governor Gavin Newsom is set to visit San Diego Friday in a last-minute push for proposition 13. Newsom will make a stop at Dana Middle School at 8 a.m. as part of his statewide get-out-the-vote tour. Proposition 13 would authorize billion for K-12 schools as well as universities and community colleges. Newsom has said that the bond money would prioritize modernizing schools as opposed to new construction. RELATED: Everything you need to know about Proposition 13 - school and college facilities bondThose against proposition 13, including the Howard Jarvis Taxpayers Association, say it would cause an increase in local property taxes and add to state debt and interest costs.“Like all bond debt, that must be paid ahead of any other priorities, even law enforcement,” the association says. “If there is a recession, too much debt puts us at risk of a reduction in services or demands for emergency tax increases at the worst possible time.”The California Legislative Analyst says the state would pay billion in total - billion in principal and billion in interest. The payments would be made over 35 years from the General Fund, Ballotpedia says. 1196