The treasury secretary said the national debt won't be dealt with until after the COVID-19 pandemic.
Treasury Secretary Steve Mnuchin on Sunday defended the record U.S. deficit and spending under the Trump administration, saying the COVID-19 pandemic requires as much funding as a"war."
Despite the U.S. deficit now accounting for about 16 percent of the country's gross domestic product, Mnuchin said reductions in spending are simply not possible amid the ongoing health crisis.."This is like a war. In a war, you've got to spend whatever you need to spend."Despite Mnuchin's claim Sunday morning, economists were quick to point out that the U.S. deficit under the Trump administration was way up before COVID-19.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India’s economy shrinks by a quarter as covid-19 gathers paceFirst came the news that India had counted 78,000 new cases of covid-19 in one day. Then a record-breaking decline in economic output was announced
Read more »
Tennessee woman who died six months ago notified by letter she tested positive for COVID-19A Tennessee man received a letter saying his mother had tested positive for COVID-19, despite dying before the first case of COVID-19 was detected in her county.
Read more »
Depression Has Skyrocketed During the COVID-19 Pandemic, Study SaysBut there are ways to get help
Read more »
COVID-19 vaccine developers prepare joint safety pledge: WSJSeveral COVID-19 vaccine developers, including Pfizer Inc, Johnson & Johnson and Moderna Inc, plan to issue a public pledge not to seek government approval until their vaccine candidates are proven to be safe and effective, the Wall Street Journal reported on Friday.
Read more »
As COVID-19 Cases Rise, Gettysburg College Puts All Students On LockdownAfter a steady rise in coronavirus cases, Gettysburg College in Pennsylvania has ordered all of its students to remain in their dorm rooms and moved all classes online. Any students who don't comply with the restrictions will be sent home.
Read more »
A house divided: As millions of Americans face evictions, others buy dream homes during COVID-19'We’re barely surviving,' admitted Brandi Gee, 46, who lives in Warner Robins, Georgia. 'I’m scared we’ll end up sleeping on the streets. I don’t know if I’ll ever recover.'
Read more »