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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

Air India Express Statement regarding incident involving Air India Express at Kozhikode pic.twitter.com/UPOE0y5TEr— Air India Express (@FlyWithIX) August 7, 2020 169

Alexandria Ocasio-Cortez just went from bartender to Congress woman. But the youngest member of the House of Representatives says she's having a hard time finding affordable housing on a working-class salary. Members of Congress have to live in their home state and Washington, D.C., where homes are small and expensive. Rent ranges from ,500 to ,800 a month.For New York's Ocasio-Cortez, that means paying rent in two of the most expensive cities in the country.“To live in two major cities at 29 years old, it's not easy for anybody to do until she gets that income that she's waiting for once her job starts,” Steve Gaich, a relator in D.C., says.After winning her election, Ocasio-Cortez told the New York Times, "I have three months without a salary before I’m a member of Congress. So, how do I get an apartment? Those little things are very real."Other members of Congress have admitted to sleeping on cots and couches in their congressional offices, while some share apartments and homes.“I think the sticker shock does take people back sometimes, and they don't realize I’m paying 0 a month for a full house in Kansas or in Iowa, and 0 might get you a shared room in a house in D.C.,” Gaich says.Members of the House make 4,000, and Ocasio-Cortez admits she'll be fine once she starts receiving a paycheck. But is it enough for the average American to afford to serve in Congress?  “I don't think you have to be rich to run for Congress. I think she has shown that's an example of someone that's not that wealthy and doesn't have a lot of support coming financially, so I think she's definitely paved the way for a lot of other normal average working, modest income people to be able to run for Congress,” Gaich says. 1757

Actor Dennis Quaid is responding to backlash he’s receiving after media reports he is participating in an ad about the coronavirus.Health and Human Services is reportedly creating an advertising campaign to “defeat despair” about the coronavirus, using celebrities and health officials to talk about COVID-19.The project is described as “COVID-19 immediate surge public advertising and awareness campaign,” according to reporting in Politico. Their sources indicate the campaign will talk about the outbreak and the Trump administration’s response to it.The campaign is estimated at 0 million to create, using taxpayer money.Quaid said he was not paid for his involvement in the ad, “nothing could be farther from the truth,” and that “it was in no way political.” The actor says he taped an interview with Dr. Anthony Fauci, the Director of the National Institute of Allergy and Infectious Diseases. 911

Acting Defense Secretary Christopher Miller announced plans to reduce U.S. troop levels in Iraq and Afghanistan by mid-January. He says the decision fulfills President Donald Trump’s pledge to bring forces home when conditions were met that kept the U.S. and its allies safe, even though Republicans and U.S. allies warn against a rash withdrawal. The new plan will accelerate troop withdrawals from Iraq and Afghanistan in Trump’s final days in office, despite arguments from senior military officials in favor of a slower, more methodical pullout. Officials have issued a "warning order" to the Pentagon to indicate that it intends to reduce troop numbers to 2,500 troops in Afghanistan and 2,500 in Iraq by Jan. 15 — five days before Trump is slated to leave office.The decision comes just days after Trump installed a new slate of loyalists in top Pentagon positions who share his frustration with the wars. Trump fired Sec. of Defense Mark Esper earlier this month after sending a classified memo to the White House that asserted top military opinions that troop levels in the region should not be reduced.The expected plan means that President-elect Joe Biden would be leading the fourth administration to grapple with the still smoldering conflicts launched in the aftermath of the Sept. 11 attacks.On Tuesday, NATO Secretary-General Jens Stoltenberg says the military organization could pay a heavy price for leaving Afghanistan too early.Stoltenberg said that "no NATO ally wants to stay any longer than necessary. But at the same time, the price for leaving too soon or in an uncoordinated way could be very high."He says Afghanistan "risks becoming once again a platform for international terrorists to plan and organize attacks on our homelands." 1766

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