Alone. That would be a huge, huge hit on retailers. Now, tax hikes are the biggest part, but not the only part of the fiscal cliff. Seeing it as a fiscal cliff, the new year will also bring more than 100 billion in spending cuts, if if congress and the president cant agree on some other course. All of this brings me to my friend, cnns Christine Romans with details on the toll on consumer spending. We threw out the number, 200 billion. What does that mean . It comes straight from the white house, trying to ride the coat tails of black friday weekend when throwing around how much money consumers spent over the past four days. The white house is saying, if these tax cuts go away for the middle class and taxes rise and the amt patch goes away and taxes rise on the middle class, it would dramatically slow growth in gdp next year and would mean 200 billion less in consumers pockets. What is this right out of the white house report . This reduction of 200 billion is approximately four times t
That argument by the gop is harder to make. First, the economy is picking up speed. Gross domestic product, the broadest measure of the u. S. Economy grew 2. 7 in the third quarter, much better than the 2 originally report. Next, housing is healing. Home prices jumped 3. 6 in the third quarter, the biggest yearoveryear increase in more than two years, according to the s p case schiller index and energy is booming. New drilling methods are generating jobs and growth. 1. 7 million jobs created, 2. 5 million jobs creed up over the next year and added up americans see better times ahead, why consume are confidence is at a fouryear high. I know, i know, i know. Its not strong nup enough, i agree. Its fragile, youre right. Just this week the organization for Economic Development downgraded its Economic Forecast and we need to make sure congress doesnt drive us off the fiscal cliff so evidence is mounting. Now is it time for the gop to reposition itself to get in on a brightening economic pic
The first human trials in the uk for a Coronavirus Vaccine are expected to get underway. Scientists at Oxford University plan to test it on 500 volunteers by mid may if successful, it would then be given to thousands more. I benefit too, you know. Its not a selfless act. I am part of the community. And if we find a vaccine, then we all benefit. But englands chief medical officer has said a drug is unlikely to be available this year. Also this lunchtime 20,000 households in england are being contacted from today, to take part in a study tracking coronavirus in the general population. Scotlands first minister sets out how the lockdown might be eased but says now is not the right time. 0ur steps, when we take them, will need to be careful, gradual, incremental and probably quite small to start with. The Economic Impact of coronavirus government borrowing could jump to its highest level in peacetime history. And one of the nurses thanked by Boris Johnson for watching over him in intensive
Right now. School is out, the gates are last nights figures, scotland released higher cases and there were close this afternoon on schools across close this afternoon on schools a cross m ost close this afternoon on schools across most of the uk, but some will only 322 and Northern Ireland has stay open for the children of key 80, wales is 170 but what stands out workers. After gcse and a level is london, that big blob and you exams were cancelled, the government would expect london to have more says grades in england will be based cases and the rest of the country on mock exam results and teacher because it houses 16 of the population so there will be some assessment. No end in sight to panic concentration but actually, it is buying. Front line Health Workers 40 , of the cases in london, they make a desperate plea for people to be less selfish. People are just are occupying a disproportionate number of cases and they are pulling further ahead of the rest of the stripping the shelves o
The Economic Impact of coronavirus government borrowing could jump to its highest level in peacetime history. And, one of the nurses thanked by Boris Johnson for watching over him in intensive care, says her team was just just doing itsjob. This is bbc news, he was just another patient we were trying to do our best for. It was business as usual. The headlines scotlands first minister sets out how the lockdown might be eased but says now is not the right time. Our steps will need to be careful, gradual, incremental and probably quite small to start with. The number of deaths from coronavirus in uk hospitals rises by 616 good afternoon. To more than 18,700. Scotlands first minister Nicola Sturgeon has set out her strategy for exiting the lockdown. The first human trials in the uk for a Coronavirus Vaccine she warned that the social are expected to get under distancing measures to prevent the spread of cornoavirus may have way in oxford today. To remain in place i benefit too. The rest of