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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 cosmopolitan issued a statement that it was over capacity at a pool party why I was banned but told me I would be arrested just for stepping on their property even if I went to eat on the property “not at the pool party” doesn’t even make sense— Meek Mill (@MeekMill) 285

The dog cast as one of the leading roles in Disney's live-action remake of Lady and the Tramp found his forever home from an Arizona shelter.Monte, who has been cast as Tramp, was adopted from HALO Animal Rescue after initially coming from Las Cruces, New Mexico. HALO partners with other shelters across the west in an effort to save animals who may be euthanized.The 2-year-old terrier mix was part of a batch of 50 dogs sent from New Mexico in April 2018, 471

The House of Representatives will not get President Donald Trump's financial records for now, the Supreme Court said on Monday.The ruling is a win for Trump, who is fighting on several fronts to shield the records from becoming public.In a brief order, the court granted the President's emergency request to block a subpoena from House Democrats to his long-time accounting firm from moving forward. There were no noted dissents.The justices set up an expedited briefing schedule to hear arguments from both sides on whether the court should agree to hear Trump's appeal this term. The President must file his opening brief on or before December 5.The House has said it could move forward with an impeachment vote by the end of December. 749

TEHRAN, Iran (AP) — Iran's government says 12 people have died nationwide from COVID-19, commonly known as coronavirus, and it has rejected claims of a much higher death toll by a lawmaker from the city of Qom that has been at the epicenter of the virus in the country. The conflicting reports raised questions about the Iranian government’s transparency concerning the scale of the outbreak. Iran's Health Ministry said total infections have risen to 61 while deaths stood at 12. However, a lawmaker from Qom was quoted by a semi-official news agency as saying the death toll was 50. Even with the lower toll of 12, the number of deaths compared to the number of confirmed infections is higher in Iran than in any other country.The 745

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