ECONOMY

Sheets of $1 bills run through the printing press in 2015 at the U.S. Bureau of Engraving and Printing in Washington, D.C. National debt is expected to reach an all-time high of 107% of gross domestic product in 2023.

Economy

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

6:31pm September 02, 2020

by Scott Horsley

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

News Brief: Russian Interference, Right-Wing Extremism, CDC Bans Evictions

5:47am September 02, 2020

Facebook and Twitter remove Russia-backed accounts targeting some voters. An ex-DHS official says the White House failed to take far-right extremism seriously. And, there's a new ban on evictions.

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Demonstrators hold up signs as they gather at Brooklyn Housing court during a 'No Evictions, No Police' national day of action in New York City.

CDC Issues Sweeping Temporary Halt On Evictions Nationwide Amid Pandemic

9:53pm September 01, 2020

by Chris Arnold

The move could prevent millions of evictions that housing advocates warn are looming as people who've lost work run out of money. Landlords groups want to know who will pay for the lost rent.

Empty offices sit above empty retail stores on Broadway in downtown Manhattan. As commercial real estate continues to lie vacant around the U.S., it may contribute to a vicious economic cycle that reshapes our cities.

Economy

'Do I Really Need This Much Office Space?' Pandemic Emptied Buildings, But How Long?

4:43pm September 01, 2020

by Ryan Kailath

As commercial real estate continues to lie vacant around the U.S., it may contribute to a vicious economic cycle that reshapes New York and other cities.

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President Trump signs one of four executive orders addressing the economic fallout from the pandemic in Bedminster, N.J., on Aug. 8. The Trump administration has given employers the option to stop collecting payroll taxes, but workers may have to repay th

Economy

The Payroll Tax Delay Is Here, But So Is Confusion About It

11:58am September 01, 2020

by Scott Horsley

Some employees will soon see a boost in take-home pay. The Trump administration has given employers the option to stop collecting payroll taxes. But workers may have to repay the money next year.

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Many Employers Say Temporary Tax Break Is Not Worth The Trouble

11:24am September 01, 2020

by Scott Horsley

The Trump administration is planning to suspend the collection of payroll taxes starting Tuesday. But unless Congress forgives the taxes, workers will end up with smaller paychecks early next year.

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A Californian resident hoses down a burning bicycle and tree as flames from the Hennessey Fire approach a property in the Spanish Flat area of Napa, Calif., on Aug. 18.

DIY Firefighting In California

11:12am September 01, 2020

by Greg Rosalsky

Why people are buying their own firetrucks.

Economy

Coronavirus Pandemic Hits New York City's Economy Hard

6:29am September 01, 2020

by Jim Zarroli

New York City was struck early by the pandemic. Hundreds of thousands of people fled and many thousands of small businesses closed. The number of cases is down sharply but the economy is struggling.

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United Airlines planes are parked at gates last month at Newark Liberty International Airport in New Jersey. The airline announced it is eliminating many change fees, and Delta Air Lines and American Airlines quickly followed.

United, Delta, American Say They Are Dropping Change Fees For Domestic Flights

8:13pm August 31, 2020

by Merrit Kennedy

United's CEO says the change was a top request from customers. Delta and American followed suit after United's announcement. Airlines are trying to coax wary customers to return amid the pandemic.

Workers and day laborers gather outside shuttered stores Monday in New Delhi. Once the world's fastest-growing major economy, India posted its steepest decline in gross domestic product in 24 years.

Indian Economy Shrinks By 24% As The Country Sees Its Highest Coronavirus Numbers

4:26pm August 31, 2020

by Lauren Frayer

"This year, we are facing an extraordinary situation," Indian Finance Minister Nirmala Sitharaman told a conference last week before GDP figures were released. "We are facing an act of God."