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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 Food and Drug Administration has approved remdesivir as a treatment for the coronavirus.The move comes less than a week after the World Health Organization published results of a large study that suggested remdesivir did not help hospitalized COVID-19 patients.A previous study by the U.S. National Institutes of Health found the antiviral drug shortened recovery time by five days, on average. That led to the drug getting emergency use approval in the U.S, as well as many other countries.The FDA’s decision on Thursday formally approves remdesivir as a treatment option, and makes it the first fully-approved treatment in the U.S.None of the studies have found the drug can improve survival rates.Remdesivir is one of the treatments President Donald Trump received when he contracted COVID-19 earlier this month. It is usually given over five days and works by helping to stop the replication of COVID-19 in the body. 932
The Department of Justice on Monday identified New York City, Portland and Seattle as cities that have allowed "violence and destruction of property to persist," as outlined in a presidential memorandum that could restrict access to federal funding.Earlier in September, President Donald Trump issued the Memorandum on Reviewing Funding to State and Local Government Recipients That Are Permitting Anarchy, Violence, and Destruction in American Cities.The measure allows the DOJ to target city governments that the agency believes has not taken steps to mitigate widespread criminal activity.So-called "anarchist jurisdictions" that meet the DOJ's criteria are subject to a 30-day review by the director of the Office of Management and Budget, who will issue guidance on restricting eligibility for federal grants, according to the presidential memorandum."When state and local leaders impede their own law enforcement officers and agencies from doing their jobs, it endangers innocent citizens who deserve to be protected, including those who are trying to peacefully assemble and protest," Attorney General William Barr said Monday in a statement. "We cannot allow federal tax dollars to be wasted when the safety of the citizenry hangs in the balance. It is my hope that the cities identified by the Department of Justice today will reverse course and become serious about performing the basic function of government and start protecting their own citizens."In New York City, the DOJ cited a monthslong spike in gun violence in conjunction with the City Council's approval of a fiscal budget that reallocated billion from the NYPD toward community and youth programming. The funding changes will begin in 2021."The budget resulted in the cancellation of the new police recruiting class, cuts to overtime spending, and the transfer of certain police functions, including school safety, out of the NYPD," the DOJ said in its statement.The Justice Department also cited the refusal of city district attorneys to prosecute certain charges related to Black Lives Matter protests that have been ongoing since the May 25 death of George Floyd while in Minneapolis police custody."Both [New York City] Mayor [Bill] de Blasio and Gov. [Andrew] Cuomo have forcefully rejected federal law enforcement support," the DOJ concluded in its statement.The loss of federal funding would be a crippling blow to cash-strapped New York City, which lost billion in revenue amid the coronavirus pandemic. The city is currently facing a billion budget deficit that could result in as many as 22,000 municipal layoffs and furloughs in October.Requests for comment from the offices of de Blasio and Cuomo were not immediately returned.Seattle and Portland have also seen significant unrest in recent months since the death of George Floyd. In June, protesters in Seattle occupried a small area of the city of several weeks and vandalized an abandoned police precinct. Portland saw more than 100 consecutive days of protests against systemic racism and police brutality, some of which grew violent.For a full list of the Justice Department's criteria for "anarchist jurisdictions," click here.This story was originally published by Lauren Cook on WPIX in New York. 3257
The FDA has given the final go-ahead to Pfizer-BioNTech's coronavirus vaccine.Shots will begin in a few days after the decision, but initial doses will be scare and rationed to health workers and nursing home residents and staff first. Enough vaccinations for the general population isn't expected until spring, prompting experts to urge the public to continue using face coverings and physically distance through the winter.Authorization had been expected Saturday morning, after an advisory panel recommended approval of the vaccine Thursday evening. According to reports, the agency was working to move it up to Friday evening.Friday morning, President Donald Trump lashed out at the Food and Drug Administration and its commissioner, Dr. Stephen Hahn, for not moving faster. Trump tweeted the FDA “is still a big, old, slow turtle. Get the dam vaccines out NOW, Dr. Hahn @SteveFDA. Stop playing games and start saving lives!!!” 939
The family of a 14-year-old Arizona boy with autism is demanding accountability after a Buckeye, Arizona police officer mistook the child for a drug user and detained him.On July 18, the boy, Connor Leibel, was forced to the ground by the officer and suffered multiple scrapes to his back, arm and face.The entire incident was captured on body camera, which was obtained by Scripps station ABC15. Watch the full raw video in the player above. Buckeye police officials did not immediately respond to requests for comment early Monday. In a statement by the Leibels' attorney, the family said they anguished over what happened and are demanding the city implement better training for its officers. “It’s astonishing that even after an internal investigation, the Buckeye Police Department claims it did absolutely nothing wrong,” the statement said. 861