Baby formula shortage is making low-income mothers struggle to pay for a product usually covered by the state
The state’s poorest mothers are paying hundreds of dollars out of pocket when they find baby formula because they say they can’t risk waiting for the exact brand and size container covered by Texas’ Women, Infant and Children program.
Abbott ends inspections that clogged commercial traffic at U.S.-Mexico border for more than a week
The deals Abbott made with three of the four Mexican border governors don’t include any new security measures south of the border. Abbott threatened to restart the inspections if Mexican states don’t slow migration to Texas.
Analysis: Texans without high-speed internet are getting closer, slowly
Like other states, Texas found out during the pandemic how critical high-speed broadband is for school, work and medicine. And the state is working to expand it — but it’s going to be at least a year before Texans start to see results.
Gov. Greg Abbott announces deals with two more Mexican governors to halt Texas’ vehicle inspections at the border
The announcements come a day after Abbott reached a similar deal with Nuevo León’s governor, who agreed to add security at a major border bridge in exchange for an end to increased vehicle inspections by Texas troopers.
Biden administration, Mexican governors urge Abbott to end inspections that have bogged down border trade
Gov. Greg Abbott is slated to have a meeting and press event with Samuel Alejandro García Sepúlveda — the Mexican governor of Nuevo León, the state that includes a section of the border near Laredo — later Wednesday afternoon.
Analysis: Texas schools need support from politically distracted state leaders
Public education in Texas — like everywhere in the country — is hurting after more than two years of pandemic. But many in the political class are preoccupied with reforms that have more to do with social issues than with education.
International trade halted at Texas border crossings as truckers protest Greg Abbott’s new inspections
Commercial traffic at the Pharr-Reynosa International Bridge stopped Monday and a similar protest affected traffic into and out of El Paso. The blockades could impact the flow of produce to restaurants and grocery stores.
The Issues Dividing America Ahead of the Midterms, Explained
Though the economy may be the focus of November’s congressional elections, other divisive topics -- some new, some perennial -- will also vie for attention from voters. These so-called wedge issues are being fanned mostly by Republicans, who see little downside in taking on polarizing issues that might motivate conservative voters. The Supreme Court, with six of its nine seats filled by conservative justices appointed by Republicans, seems poised to stir things up even further with upcoming deci
washingtonpost.comAnalysis: In Texas elections in 2022, economic concerns loom
A new Texas Lyceum poll finds the state’s voters in a sour mood — particularly around economic issues. That’s useful information for candidates during this election year, and for the officeholders who’ll be trying to put things in order after the elections.
Analysis: Texas gets a respite on Medicaid, but not a cure for the uninsured
Texas got a temporary reprieve on Medicaid funding from the federal government. But that won’t solve underlying problems with high numbers of uninsured Texans and the plight of hospitals in the state — especially those in rural areas.
As gas prices rise in the US, countries around the world are feeling pain at the pump even more
According to data from globalpetrolprices.com, 46 countries has gas prices that are $6 a gallon or more, 26 have prices that are at least $7 a gallon while nine countries have gas prices that are $8 a gallon or more.
A year after feds allocate funds, Texas launches program to help homeowners avoid foreclosure because of COVID-19
Twenty-five states, including California and New York, preceded Texas in getting federally backed programs up and running to help homeowners suffering financial hardship because of COVID-19.
Fed's Powell: There's no returning to pre-pandemic economy
Federal Reserve Chairman Jerome Powell said Tuesday that the U.S. economy has been permanently changed by the COVID pandemic and it is important that the central bank adapt to those changes. “We're not simply going back to the economy that we had before the pandemic,” Powell said at a Fed virtual town hall for educators and students. Powell said that, while it is not yet clear if the delta variant of COVID will have further impact on the economy, the country has already seen significant changes since the pandemic began shutting the country down in March 2020.
news.yahoo.comEconomy grew by 1.6 percent in first quarter, showing signs of boom to come
The U.S. recovery likely found its rhythm in the first three months of 2021, according to early forecasts of data to be released by the Bureau of Economic Analysis this morning. It appears likely all Covid-19-era losses will be recovered by the middle of this year.
washingtonpost.comU.S. economy is 'on the brink' of a complete recovery, says Richmond Fed's Barkin
Pedestrians walk outside the New York Stock Exchange in the U.S. The U.S. economy is recovering from the Covid-19 recession, but some economic "scarring" may take a long time to heal, said Richmond Federal Reserve Bank President Thomas Barkin. Economic scarring refers to damage left behind by crises that will suppress growth prospects over the medium or long term. "I'm hopeful we're on the brink of completing this recovery," Barkin said Monday at the Credit Suisse Asian Investment Conference that's being held virtually this year. The U.S. economy contracted by 3.5% in 2020 compared to a year ago, estimated the Bureau of Economic Analysis.
cnbc.comWithout stimulus, employment might not reach pre-pandemic level until 2024
Without stimulus, employment might not reach pre-pandemic level until 2024 New analysis from the Congressional Budget Office predicts the U.S. economy will return to its pre-pandemic peak in the middle of 2021, but the number of people employed won't return to previous levels until 2024. Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, joins CBSN's "Red & Blue" host Elaine Quijano to discuss what she thinks the federal government should do to aid the economy.
cbsnews.comU.S. GDP booms at 33.1% rate in Q3, better than expected
The gain came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. "It's obviously good news that the economy bounced back in the third quarter," said Eric Winograd, senior economist at AllianceBernstein. "There's still a lot of work to do here and the pace of improvement ... is going to slow. That is part of the reason that the pace of growth is going to slow from here." The economy has been in a technical recession since February, as first-quarter growth declined at a 5% pace.
cnbc.comIMF revises its global GDP forecast higher, but warns the economy 'remains prone to setbacks'
The International Monetary Fund on Tuesday turned slightly more positive on the global economy for this year, but warned of a "long, uneven and uncertain" recovery. The global economy is now projected to contract by 4.4% in 2020 — an upward revision from an estimate of -4.9% made in June. The IMF's projection assumes that social distancing due to the coronavirus pandemic will continue into 2021, and that local transmission will fall everywhere by the end of 2022. However, it warned that the coronavirus crisis is far from over. The IMF projected "only limited progress" going forward and cut its GDP (gross domestic product) growth expectations for next year to 5.2%, from an estimate of 5.4% made in June.
cnbc.comTexas businesses returning during coronavirus are unlikely to spur fast economic recovery people need
Child care facilities, bars and sports events will also now be able to return with restrictions in place, Abbott said. In allowing more businesses in Texas to open, Abbott has said hes following data and experts to guide his decisions. The energy sector is tightly tied to the states economy and budget. Since Abbott and several local Texas officials first shuttered businesses to stop the virus' spread, hundreds of thousands of people lost their jobs. With so much economic devastation wrought by the virus, many Texans simply don't have the money right now to support businesses.
How China could use this moment to charge ahead with its geopolitical agenda
China, the world's second largest economy, is under threat as the pandemic wipes out jobs and slows productivity and growth. But even with the economic setback, that's not stopping Beijing from doubling down on its geopolitical agenda. China could be using diplomatic outreach, while skirting any responsibility for the crisis, as a way to move forward with its geopolitical plans, Economy said. I think the Trump administration will be looking to China to buy American, to fulfill the promises that it made," she said. In the meantime, the People's Republic of China has rolled out significant measures to offset the economic impact of the pandemic.
cnbc.comThe economy is improving, so why are Americans feeling so down?
The economy is improving, so why are Americans feeling so down? Steady job-creation this year has failed to quell people's anxiety about their financial prospects and the broader direction of the economy. CBS News' Lauren Lyster reports.
cbsnews.comWill the economy change much during the year's second half?
Will the economy change much during the year's second half? The economy contracted nearly three percent during the first quarter of the year. CBS News business analyst Jill Schlesinger explains what to expect in the second half of the year.
cbsnews.comU.S. economy shrinks for first time in three years
U.S. economy shrinks for first time in three years The harsh weather this past winter is getting much of the blame for a slowdown in the economy, but most economists believe it sets the economy up for a strong rebound this quarter. Anthony Mason reports.
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