Mar 5, 2019 - Politics & Policy

U.S. deficit grew 77% in first quarter of 2019

President Trump and Senate Majority Leader Mitch McConnell. Photo: Saul Loeb/AFP/Getty Images

The Treasury Department said the U.S. deficit grew 77% in the first 4 months of the 2019 fiscal year (beginning Oct. 1), driven by sweeping tax cuts passed at the end of 2017 and increased federal spending, reports the Washington Post.

The big picture: The department said the deficit for the 4 months amounted to $310 billion — up from $176 billion recorded in the same period during the last fiscal year. Meanwhile, tax revenue from October 2018 through January 2019 dropped $19 billion, per the Post. Corporate tax payments fell approximately 25%, and there was a 9% increase in federal spending.

Go deeper: The national debt has soared past $22 trillion, but does it even matter?

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Axios
Updated 35 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 20,001,019 — Total deaths: 733,897 — Total recoveries — 12,209,074 — Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 5,085,821 — Total deaths: 163,370 — Total recoveries: 1,670,755 — Total tests: 62,513,174 — Map.
  3. Politics: Trump claims he would have not called for Obama to resign over 160,000 virus deaths — House will not hold votes until Sept. 14 unless stimulus deal is reached.
  4. Business: Richer Americans are more comfortable eating out.
  5. Public health: A dual coronavirus and flu threat is set to deliver a winter from hell — At least 48 local public health leaders have quit or been fired during pandemic.
  6. Sports: The cost of kids losing gym class — College football is on the brink.
  7. World: Europe's CDC recommends new restrictions amid "true resurgence in cases."
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Dave Lawler
44 mins ago - World

Protests in Belarus turn deadly following sham election

An arrest today in Minsk. Photo: Natalia Fedosenko/TASS via Getty

Protesters and security forces are clashing across Belarus tonight, with at least one person dead, hundreds injured and thousands arrested.

Why it matters: Sunday’s rigged presidential elections have yielded political uncertainty unlike any seen in Aleksander Lukashenko’s 26-year tenure. After claiming an implausible 80% of the vote, Lukashenko is using every tool in the authoritarian arsenal to maintain his grip on power.

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Axios
Updated 49 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

The number of COVID-19 cases surpassed 20 million worldwide on Monday evening, Johns Hopkins data shows.

The big picture: World Health Organization chief Tedros Adhanom Ghebreyesus told a virtual press conference as the world approached the milestone that 750,000 deaths were set to be recorded this week. "Behind these statistics is a great deal of pain and suffering. Every life lost matters," he said. "But I want to be clear: there are green shoots of hope and... it's never too late to turn the outbreak around."

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