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Unemployment may not return to pre-COVID levels for a decade: Congressional Budget Office

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On Thursday, Politico reported that it could take a decade for unemployment levels to return to where they were before the coronavirus pandemic, according to the Congressional Budget Office.

“The economic outlook for the next 10 years has ‘deteriorated significantly’ since the independent budget agency issued its last complete set of projections in January, CBO noted,” reported Caitlan Emma. “That illustrates the devastating effects of the pandemic and underscores the reality of a slower economic recovery than the ‘rocket ship’ rebound predicted by President Donald Trump.”

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“CBO assumes that if federal taxes and spending remain in place, the economy will grow rapidly in the third quarter of this year. But compared to earlier estimates, real GDP will be 3.4 percent lower, on average, for the next decade,” said the report. “The annual unemployment rate, which was projected to average 4.2 percent, is now projected to average 6.1 percent during the same period. The calculations do not take into account any changes that could occur with the passage of an additional emergency relief bill that Congress is expected to take up prior to the August recess.”

The CBO also says that “African American, Hispanic, and female workers have been hit particularly hard, in part because they make up a disproportionate share of the workforce in certain industries with jobs that involve elevated risks of exposure to the coronavirus.”

Trump has repeatedly promised that the economy will rebound quickly, but economic experts are more pessimistic.


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‘It’s a disgrace’: Conservative torches Trump and the GOP — saying they’ve betrayed voters

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In 2012, Stuart Stevens served as the chief strategist for Republican Mitt Romney’s presidential campaign and tried to prevent President Barack Obama from winning a second term; in 2020, he is a Never Trump conservative who is rooting for former Vice President Joe Biden, the presumptive Democratic presidential nominee. And when Stevens appeared on MSNBC’s “The 11th Hour” on Thursday night, August 6, he stressed to host Brian Williams that many GOP incumbents — from President Donald Trump to members of Congress — could be in trouble in November.

Promoting his new book, “It Was All a Lie: How the Republican Party Became Donald Trump,” Stevens told Williams, “This is a very negative environment for Republicans…. There are external forces out there that make this a very tough race for incumbents in the Republican Party.”

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Mask-hating Trump supporter banned from local store after she ‘rammed someone with a cart’: report

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A woman who was permanently banned from entering a local hardware store for refusing to wear a face mask tells Vox that she's proud that her defiance of public health standards got her kicked out.

In an interview, a Wyoming resident named Jacqueline says that her local Menards home and garden store has told her that she is no longer allowed to shop there for refusing to wear a face mask on two separate occasions.

Although she was still allowed to shop at the store after the first time she came in without a face mask, she was permanently given the boot when she got into a physical altercation with an employee during her second trip to the store.

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Expert: NRA had to be obliterated by New York for one very important reason

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The New York attorney general's aggressive moves against the National Rifle Association might have been handled by the U.S. Department of Justice, according to a former federal prosecutor.

State attorney general Letitia James filed a lawsuit to dissolve the powerful lobbying group over claims of rampant fraud, but former U.S. Attorney Barbara McQuade's new column for The Daily Beast calls out the Justice Department's inaction.

"Like other cases of corruption, this easily could have been framed as a criminal case," McQuade wrote. "Filing false registration and disclosure documents as part of a scheme to defraud can serve as the basis for federal mail or wire fraud, and often does in public corruption cases. When I served as a federal prosecutor, my former office brought public corruption cases on such theories in similar cases in which officials misused funds for personal benefit."

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