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According to a study published by UCLA's Anderson School of Management, the COVID-19 pandemic has put the U.S. economy into a "depression" and projects that the country's GDP won't return to pre-pandemic levels until early 2023.The study was published by David Shulman of UCLA's Anderson Forecast — a research firm at the school that publishes a quarterly outlook on the U.S. economy."Make no mistake, the public health crisis of the pandemic morphed into a depression-like crisis in the economy," Schulman wrote. "To call this crisis a recession is a misnomer."The report says that despite a drastic response from both the Trump Administration and the Federal Resevre, it will take years for both employment levels and GDP to return to were it was before COVID-19 reached America."Simply put, despite the Paycheck Protection Program too many small businesses will fail and millions of jobs in restaurants and personal service firms will disappear in the short-run," the report reads. "We believe that even with the availability of a vaccine it will take time for consumers to return to normal. (It took more than two years after 9/11 for air travel to return to its prior peak.) With businesses taking on a huge amount of debt, repayment of that debt will take a priority over new capital spending. And do not forget that state and local budgets suffered a revenue collapse that even with federal assistance it will take years to recover from."The U.S. lost 22 million non-farming jobs in the early months of the pandemic, the report says. The report does offer at least one bright spot: the housing market. The report mentions that despite high unemployment rates, "consumer demand remains strong" and that markets will return to pre-pandemic levels fairly soon.Finally, the report projects that the pandemic will accelerate some trends that were already in motion, particularly the growth of online retail, telecommuting and rising tensions between the U.S. and China. 1980

ALPINE, Calif. (KGTV) -- The owner of a popular iron horse statue in Alpine believes a lot of planning went into stealing it. Rita Gallant says the iron horse was taken in the middle of the night. The statue stood 14-feet tall and weighed approximately 300 pounds. Gallant says she didn’t notice it was gone until days later, so she checked her surveillance tapes. “We believe they came in over the course of a couple of days. They had to remove some very large rebar wire that was in it that’s right here. So we had four of these that were in it to secure it to the ground,” Gallant said. Gallant says she bought the statue 15 years ago and set it up at her store, Double S Tack and Feed. Since then, the statue had become something of an icon in the neighborhood. 774

According to a database kept by Johns Hopkins, at least 3 million people in the United States are confirmed to have contracted the novel coronavirus since the pandemic reached the country earlier this year.The U.S. surpassed the grim milestone on Wednesday morning. According to the database, more than 131,000 Americans have died of the virus.The U.S. passed the milestone as cases of COVID-19 continue to spike across the country, particularly in southern states. Late June and early July have seen some of the highest daily totals of newly confirmed COVID-19 infections since the pandemic began. Arizona, California, Florida and Texas have seen massive spikes in recent weeks before dropping in recent days — likely due to lack of reporting over the Fourth of July holiday.Hospitalizations linked to the virus across the county have risen slightly in recent weeks and have spiked in states where the virus appears to be spreading quickly.Several states have either paused or rolled back steps to reopen businesses following lockdown-related restrictions in response to rising case numbers. A number of states and cities have also introduced ordinances requiring masks in public places.The U.S. also continues to be among the world leaders in cases per 100,000 people. Only Chile and Peru rank higher, according to Johns Hopkins. U.S. cases account for more than a quarter of all worldwide cases. Around the world, nearly 12 million people have contracted the virus and about 540,000 have died.The U.S.'s total number of cases is almost double that of Brazil — the country with the second-most confirmed cases of the virus. 1634

After several days of public memorials in Alabama and Washington, D.C., a funeral service for Rep. John Lewis took place in the historic Ebenezer Baptist Church in Atlanta. The same church that was formerly led by Dr. Martin Luther King Jr.Former President Barack Obama delivered the eulogy for Lewis during Thursday's service, speaking passionately about Lewis' so-called good trouble and both his protests and politics for change. He called Lewis “a man of pure joy and unbreakable perseverance.""George Wallace may be gone, but we can witness our federal government sending agents to use tear gas and batons against peaceful demonstrators," he said, referring to the segregationist Alabama governor who ran for president on a hard-right platform in 1968 and recent images from Portland, adding that there are still battles to be fought for voting rights and equality.Obama talked about ways to continue Lewis' legacy; restoring the Voting Rights Act, allowing former inmates to vote, adding polling locations, making Election Day a federal holiday and allowing Washington, DC, and Puerto Rico to have full representation in Congress.Former Presidents George W. Bush and Bill Clinton also spoke during the service, both recounting stories from Lewis' life, including a popular story of the representative preaching to chickens as a child."It is so fitting on the day of his service, he leaves us our marching orders: Keep moving," Clinton told the crowd, encouraging the audience the continue the work Lewis started.Speaker of the House of Representatives Nancy Pelosi talked about personal moments of levity with Rep. Lewis. Including his dancing and retelling a story Lewis had shared with her, when his granddaughter asked if he sang with the civil rights movement, Lewis reportedly responded "They asked me to sing solo once. So low they couldn't hear me.""John wasn't on the right side of history, history was on the right side of John," said William Craig Campbell, Former Mayor, City of Atlanta.President Donald Trump did not attend a public viewing for Lewis that was held in the Capitol Rotunda earlier this week and there is so far no mention of him attending the service Thursday in Atlanta.Thursday's service marks the culmination of nearly a week of celebrations of the longtime Georgia congressman and civil rights leader. In Alabama, Lewis' casket was carried by horse-drawn carriage across the Edmund Pettus Bridge in Selma, Alabama — the place where he was beaten by police nearly 50 years ago while marching for voting rights. That march inspired the passage of the Voting Rights Act just a few months later.On Monday, Lewis' body was flown to Washington, where his body laid in state at the Capitol Building — an honor only afforded to the most highly respected lawmakers.Following Thursday's service, Lewis will be buried at Atlanta's South View Cemetery — the same cemetery where King is buried. 2926

A woman close to the Parkland, Florida, school shooter called an FBI tip line in early January to describe a young man with an arsenal of knives and guns who was "going to explode" and said she feared him "getting into a school and just shooting the place up.""I just want to, you know, get it off my chest in case something does happen and I do believe something's going to happen," the woman said, according to a transcript of the Jan. 5 call reviewed by CNN.The FBI admitted last week that it had failed to act on the tip. In a statement then, FBI Director Christopher Wray said that "we have spoken with victims and families, and deeply regret the additional pain this causes all those affected by this horrible tragedy."  739

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