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Congress

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The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said Wednesday.

The spike in the deficit means that federal debt will exceed annual gross domestic product next year, a milestone that would put the U.S. in the company of countries like Greece whos...


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President Donald Trump on Tuesday said his administration would help U.S. airlines facing sharp downturns in passenger traffic as a result of the novel coronavirus pandemic, but gave no details.

“We’ll be helping the airlines. You have to help the airlines,” Trump told reporters before departing on a visit to Kenosha, Wisconsin. “Airlines are a tough business in good times.”

Airline shares jumped briefly on Trump’s comments but later gave up most of the gains. American Airlines picked up 0.4%, United finished virtually unchanged and Delta ended down 0.5%.


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U.S. President Donald Trump’s intelligence chief on Sunday defended his decision to cease in-person Congressional briefings on election security, while Democrats said the move would suppress critical information about foreign election meddling and warned they may subpoena testimony.

John Ratcliffe, the president’s new director of national intelligence and a close Trump ally, accused U.S. lawmakers of leaking classified information from a July 31 briefing t...


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Stocks were mixed on Wall Street Tuesday, but gains were strong enough for tech companies and other pockets of the market to carry the S&P 500 to its fourth straight gain and another record high.

The benchmark index rose 12.34, or 0.4%, to 3,443.62, even though slightly more stocks within it sank than rose. The Dow Jones Industrial Average fell 60.02, or 0.2%, to 28,248.44, and the Nasdaq composite rose 86.75, or 0.8%, to 11,466.47.


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A group of 90 Democrats in the U.S. House of Representatives on Wednesday called on the Postal Service’s board of governors to immediately remove Postmaster General Louis DeJoy “to protect this critical institution,” according to a letter seen by Reuters.

The letter, signed by Democrats including David Cicilline, Karen Bass, Mark Pocan, Hakeem Jeffries, Chellie Pingree and Gerald Connolly said “in his brief time as Postmaster General, Mr. DeJoy has imp...


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Speaker Nancy Pelosi is calling the House back into session over the crisis at the U.S. Postal Service, setting up a political showdown amid growing concerns that the Trump White House is trying to undermine the agency ahead of the election.

Pelosi is cutting short lawmakers’ summer recess with a vote expected Saturday on legislation that would prohibit changes at the agency as tensions mount. President Donald Trump’s new postmaster general, Louis DeJoy, has sparked nationwide outcry over delays, new prices and cutbacks just as millions of Americans will be trying to vote by mail to avoid polling places during the coronavirus outbreak.


Reuters | Equities.com |

Top Democrats in the U.S. Congress on Sunday called on President Donald Trump’s appointed postmaster general to testify this month on changes that have stoked fears they are aimed at holding up mail-in ballots ahead of the November election.

The Postal Service’s internal watchdog has begun investigating a wave of cost-cutting kicked off by Postmaster General Louis DeJoy that has slowed mail delivery around the country, alarming lawmakers ahead of the Nov. 3 election when up to half of U.S. voters could cast ballots by mail.


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Americans counting on emergency coronavirus aid from Washington may have to wait until fall.

Negotiations over a new virus relief package have all but ended, with the White House and congressional leaders far apart on the size, scope and approach for shoring up households, re-opening schools and launching a national strategy to contain the virus.

President Donald Trump’s top negotiator, Treasury Secretary Steven Mnuchin, tried to revive stalled talks Wednesda...


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Congress’s failure so far to pass another round of coronavirus aid leaves state and local officials on their own to deal with the soaring costs of holding a presidential election amid a deadly pandemic.

That could leave them scrambling to solve problems that surfaced during the primary season in time for November’s election.

The coronavirus outbreak has triggered unprecedented disruptions for election officials across the U.S. They...


Reuters | Equities.com |

WASHINGTON/Morristown, NJ (Reuters) - U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin on Sunday said they were open to restarting COVID-19 aid talks, after weeks of failed negotiations prompted President Donald Trump to take executive actions that Democrats argued would do little to ease Americans’ financial distress.

Discussions over a fifth bill to address the impact of the coronavirus pandemic fell apart on Friday, a week after the expiration of a critical boost in unemployment assistance and eviction protections, exposing people to a wave of economic pain as infections continue to rise across the country.