While other political issues are embroiled in controversy — immigration, trade, and foreign policy, to name a few — the United States' economy seems to be in good shape, causing President Trump to often tout positive economic indicators:

The big picture: Unemployment is dropping, applications for disability benefits are plunging, and millennials are finally moving out on their own. But with the threat of a trade war on the horizon and signs that the economy may be soon slowing, there are worries about how long the boom can last.

The good, per CNBC:
  • Millennials are moving out: Millennials, the largest generation in the labor force, are leaving the nest and increasingly heading out on their own,
  • Disability applications are plunging: Fewer than 1.5 million Americans applied for disability benefits in 2017, "the lowest since 2002." Trump touted this statistic in a Saturday morning tweet.
  • Unemployment is dropping: Last week, the number of people filing for unemployment benefits was at 218,000, below the expected 220,000.
  • Homebuilding surged: U.S. homebuilding hit its highest level in May since July 2007.
  • Consumers are optimistic: Consumer sentiment hit its highest level in three months. University of Michigan's chief economist Richard Curtin told CNBS: "Greater certainty about future income and job prospects have become the main drivers of more favorable purchase plans."
Yes, but:
  • The threat of a trade war between the U.S. and its allies is concerning and some economists fear that prolonged economic retaliation could weaken crucial American alliances.
  • The Leading Economic Index fell short of expectations in May, after increasing only .2% instead of .4%. Ataman Ozyildirim, director of business cycles and growth research at The Conference Board, told CNBC: "The U.S. LEI still points to solid growth but the current trend, which is moderating, indicates that economic activity is not likely to accelerate."
  • While homebuilding surged as mentioned above, there was a drop in homebuilding permits for the second month, which "suggested housing market activity will remain moderate."

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Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 32,844,146 — Total deaths: 994,208 — Total recoveries: 22,715,726Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 7,078,798 — Total deaths: 204,497 — Total recoveries: 2,750,459 — Total tests: 100,492,536Map.
  3. States: New York daily cases top 1,000 for first time since June — U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.

Graham hopes his panel will approve Amy Coney Barrett by late October

Sen. Lindsey Graham during a Senate Judiciary Committee hearing on Sept. 24, 2020 in Washington, DC. Photo: Win McNamee/Getty Images

Senate Judiciary Committee Chair Lindsey Graham (R-S.C.) told Fox News Saturday he expects confirmation hearings on Judge Amy Coney Barrett's nomination to the Supreme Court to start Oct. 12 and for his panel to approve her by Oct. 26.

Why it matters: That would mean the final confirmation vote could take place on the Senate floor before the Nov. 3 presidential election.

Texas city declares disaster after brain-eating amoeba found in water supply

Characteristics associated with a case of amebic meningoencephalitis due to Naegleria fowleri parasites. Photo: Smith Collection/Gado/Getty Images

Texas authorities have issued a warning amid concerns that the water supply in the southeast of the state may contain the brain-eating amoeba naegleria fowleri following the death of a 6-year-old boy.

Details: The Texas Commission on Environmental Quality issued a "do not use" water alert Friday for eight cities, along with the Clemens and Wayne Scott Texas Department of Criminal Justice corrections centers and the Dow Chemical plant in Freeport. This was later lifted for all places except for Lake Jackson, which issued a disaster declaration Saturday.