Amelia Thomson
Amelia Thomson
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What Would Happen If Congress Lets The States Go Broke?

What Would Happen If Congress Lets The States Go Broke?

A pandemic is an expensive thing to weather. The COVID-19 crisis has already prompted a huge drop in state tax dollars, and seems likely to in lost revenue over the upcoming fiscal year. That’s pushed governors to come to the federal government, hat in hand, . But while Democrats in Congress seem eager to oblige — the House on May 15 includes nearly $1 trillion for state, local and tribal governments — congressional Republicans and President Trump .There’s a tinge of moral and political outrage to this debate. Trump has repeatedly suggested that blue-state governors and don’t deserve a...

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Amelia Thomson
6d ago
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The Terrible Jobs Report Gets Worse The More You Read It

The Terrible Jobs Report Gets Worse The More You Read It

Remember last month, when ? Those were the days. The most recent jobs report is a stunning picture of how the pandemic has reshaped the country’s labor market. Overall, 20.5 million fewer people were employed last month . And the unemployment rate has skyrocketed to 14.7 percent — by far the worst we’ve seen in more than seven decades of economic data.But the speed of the crisis also means that these numbers are already out of date. The jobs report is based on surveys of businesses and households taken during the middle of April, but the economic situation likely worsened as the month went...

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Amelia Thomson
May 8
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Even Without A Pandemic, It’s Hard To Forecast A Recession

Even Without A Pandemic, It’s Hard To Forecast A Recession

Recent predictions about the economic impact of the COVID-19 crisis are certainly helping the “dismal science” live up to its name. Last Tuesday, said that the world is hurtling toward the worst economic downturn since the Great Depression. Economists at big investment banks have warned more or less the same: Goldman Sachs that U.S. GDP would shrink by 34 percent in the second quarter of 2020, compared to the first quarter of the year, and that this year, we could see the steepest drop in annual GDP growth since 1946.But here’s the thing: Economists at predicting recessions. In this...

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Amelia Thomson
Apr 21
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