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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 Chardon (Ohio) Fire Department is investigating a school bus that was on fire overnight in the district's bus lot.Shortly after 5 a.m. on Thursday, an employee arrived at 355 Maple Avenue, where the bus lot is located, and noticed a bus had been burned in a fire. As a precaution, the fire department extinguished any hot spots. Authorities are still investigating the cause of the fire, but they said they believe it was set intentionally.A few other buses were parked nearby the burned bus, but they appeared unscathed.   575

The concept of universal basic income is getting new attention amid the COVID-19 pandemic. It’s the idea of giving out recurring payments to everyone without any strings attached.Stockton, California, has been testing this with 125 people, giving them 0 per month. They've been getting that money for more than a year and it was supposed to stop this summer, but the mayor extended the money until January because of the pandemic.More mayors are getting on board with the idea. Fifteen joined the organization Mayors for a Guaranteed Income. They're looking into launching pilot programs in their cities.We spoke with an economics professor who says the pandemic stimulus payments can be seen as a form of universal basic income.“Seeing that I think it must make the idea more real and at the same time it's pretty clear at this very moment why you might find this idea appealing,” said Ioana Marinescu, an assistant professor at the University of Pennsylvania. “That's because, again, a lot of people have lost income. There's a clear need for income security.”In the case of the stimulus checks, it's not people's fault they lost their income.With universal basic income, critics say people may not be deserving of the money. Marinescu believes the stimulus may be helping change the perception. She points to money people receive in Alaska from oil revenue. She says people aren't any less likely to work.In Stockton, they've found people are using the money for necessities like groceries and utility bills.How universal basic income, or UBI, gets funded is a big question.“One interesting thing that has happened with the stimulus checks is the idea that people had of saying it's going to be based right now on your past income and we'll potentially tax it away later after we're out of this hole,” said Marinescu. “So to me, that's a potentially important lesson for a potential UBI.”The president of the nonpartisan Center on Budget and Policy Priorities wrote that paying for universal basic income from new taxes isn't the way to go. He says we already need a lot of money to keep social security and Medicare going.Stockton's mayor says money from the pentagon budget or tax money from the legalization of marijuana could work. He's paying for his city's current pilot program with a grant and a private donation.Other cities looking to start pilots are considering forming public-private partnerships or working to find room in the city budget. 2467

The Broadway League, the trade association that regulates theater performances in New York City, has said that all performances have been suspended until at least June 2021.Anyone with tickets to Broadway shows before June 2021 "should contact their point of purchase" about exchanges and refunds, the association said.“With nearly 97,000 workers who rely on Broadway for their livelihood and an annual economic impact of .8 billion to the city, our membership is committed to re-opening as soon as conditions permit us to do so. We are working tirelessly with multiple partners on sustaining the industry once we raise our curtains again,” Charlotte St. Martin the President of the Broadway League, said in a statement.Broadway shows in New York have been shut down since March 12, when the COVID-19 pandemic began to take hold in the city. In May, Broadway League initially suspended all performances through Septemeber before extending the shutdown through the end of the year in June. 999

The CDC appears to be making slight changes to who should be tested for coronavirus for a second time this week, after their changes on Monday sparked confusion and reaction from the scientific community.On Monday, the CDC updated their website to read that testing is no longer recommended for symptom-less people who were within 6 feet of an infected person for more than 15 minutes.This set off a wave of confusion about who should be tested and the reason for the change. All questions were directed to the CDC’s parent organization, the Department of Health and Human Services.In a statement distributed to media Thursday, CDC Director Robert Redfield said those who come in contact with a confirmed or probable COVID-19 patient(s) could be tested, even if they don’t show symptoms, according to TheHill.com.“Testing is meant to drive actions and achieve specific public health objectives. Everyone who needs a COVID-19 test, can get a test. Everyone who wants a test does not necessarily need a test; the key is to engage the needed public health community in the decision with the appropriate follow-up action,” Redfield said in the statement.The New York Times reports the guidelines are not changed on the Centers for Disease Control and Prevention’s website, and appears unlikely the agency will change them. 1326

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