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Trump's turn to the economy leaves a vacuum when it comes to controlling the pandemic – CNN

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Trump has brushed off all three — a Democratic-aligned independent from Maine, a Republican from Tennessee, an admiral he appointed. He calls testing “overrated” while asserting, nonsensically, that more tests merely inflate the number of coronavirus cases.
“An astonishing failure of competent leadership,” King concluded in an interview with CNN. And it’s one that demonstrates a jarring reality of America’s fight against the global pandemic.
After briefly embracing the role of “wartime President,” Trump has all but quit the battlefield in favor of cheerleading for economic revival. In the absence of reliable White House leadership, a haphazard combination of federal, state and private sector efforts has gradually boosted testing levels even without a national plan.
The decline in the proportion of positive tests points toward an ebb-tide for the pandemic nationally. Yet public health officials warn that the commander-in-chief’s retreat on halting the virus now threatens to slow or reverse progress that the painful stay-at-home measures and economic shutdown have bought. The British medical journal The Lancet denounced the Trump administration as “obsessed with magic bullets” such as vaccines, while remaining “nowhere near” the level of testing the fight requires.
Meantime, Trump is dangling promises of a broadly-available vaccine by year-end — a prospect that public health experts consider unlikely. He’s ignored broad safety guidelines he offered for reopening the economy just a month ago, and praised armed protesters demanding that governors drop restrictions. And he withheld detailed guidance for businesses and schools on re-opening prudently, limiting the Centers for Disease Control and Prevention to offering a cursory six-page collection of “decision trees.”
The President also curbed the visibility of top public health officials by ending daily coronavirus task force briefings. He picked a public fight with renowned infectious disease authority Anthony Fauci, whose caution conflicts with Trump’s zeal for accelerated economic activity.
He muted his support for helping state and local governments on the front lines of the pandemic. As his appointed Federal Reserve chair Jerome Powell implored the White House and Congress to keep thinking big on fiscal relief, Trump cautioned against state-level profligacy and linked emergency relief to unrelated ideological goals on immigration and taxes.

A pattern of downplaying threats

Better-suited for salesmanship than policy-making, Trump has minimized the battle from the start. He downplayed the coronavirus threat to avoid disturbing election-year economic growth.
Once he could no longer avoid it, the President followed rather than led — and stumbled.
In February, Congressional Republicans and Democrats alike spurned his request for emergency coronavirus spending as inadequate. They tripled it.
In March, Trump falsely asserted that any American could obtain a coronavirus test. That remains untrue even now.
Desperate for good news, Trump began touting the unproven healing power of hydroxychloroquine. Subsequent research found the anti-malaria drug a lethal threat to some coronavirus patients.
Trump’s decisive embarrassment came at the coronavirus task force briefing on April 23, when he suggested that injections of household disinfectant might become a cure. The White House halted daily briefings soon thereafter.
On initial coronavirus relief legislation, House Speaker Nancy Pelosi negotiated with Treasury Secretary Steven Mnuchin without even talking to Trump. In recent days, as she and fellow Democrats prepared the new $3 trillion bill including state and local government aid, she acted as if the President didn’t matter at all.
“Don’t waste your time or mine on what he says,” Pelosi told a C-SPAN interviewer. House passage of the bill on Friday evening marked the potential opening of fresh negotiations with the Republican-controlled Senate over a fourth relief package.

Focusing on enemies rather than threats

On Twitter, Trump devotes less attention to the pandemic than to punching political enemies. At a White House press conference last week, he signaled how casually he takes his responsibilities on fighting the virus.
Days after a Trump valet and Vice President Mike Pence’s press secretary tested positive, a White House memo requiring mask-wearing inside 1600 Pennsylvania Avenue was enacted to limit further spread. A reporter asked Trump if he had ordered it.
“Yeah, I did. I did. I required it. Yes,” the President replied. But he hasn’t been seen wearing a mask yet.
On a conference call the same day, Pence urged governors to test all residents of nursing homes – a locus of infections nationwide. A journalist asked Trump if he would require that.
“I will mandate it, if you’d like,” the President responded. He has not.

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Economy

PBO projects deficit exceeded Liberals’ $40B pledge, economy to rebound in 2025

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OTTAWA – The parliamentary budget officer says the federal government likely failed to keep its deficit below its promised $40 billion cap in the last fiscal year.

However the PBO also projects in its latest economic and fiscal outlook today that weak economic growth this year will begin to rebound in 2025.

The budget watchdog estimates in its report that the federal government posted a $46.8 billion deficit for the 2023-24 fiscal year.

Finance Minister Chrystia Freeland pledged a year ago to keep the deficit capped at $40 billion and in her spring budget said the deficit for 2023-24 stayed in line with that promise.

The final tally of the last year’s deficit will be confirmed when the government publishes its annual public accounts report this fall.

The PBO says economic growth will remain tepid this year but will rebound in 2025 as the Bank of Canada’s interest rate cuts stimulate spending and business investment.

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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Economy

Statistics Canada says levels of food insecurity rose in 2022

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OTTAWA – Statistics Canada says the level of food insecurity increased in 2022 as inflation hit peak levels.

In a report using data from the Canadian community health survey, the agency says 15.6 per cent of households experienced some level of food insecurity in 2022 after being relatively stable from 2017 to 2021.

The reading was up from 9.6 per cent in 2017 and 11.6 per cent in 2018.

Statistics Canada says the prevalence of household food insecurity was slightly lower and stable during the pandemic years as it fell to 8.5 per cent in the fall of 2020 and 9.1 per cent in 2021.

In addition to an increase in the prevalence of food insecurity in 2022, the agency says there was an increase in the severity as more households reported moderate or severe food insecurity.

It also noted an increase in the number of Canadians living in moderately or severely food insecure households was also seen in the Canadian income survey data collected in the first half of 2023.

This report by The Canadian Press was first published Oct 16, 2024.

The Canadian Press. All rights reserved.

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Economy

Statistics Canada says manufacturing sales fell 1.3% to $69.4B in August

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OTTAWA – Statistics Canada says manufacturing sales in August fell to their lowest level since January 2022 as sales in the primary metal and petroleum and coal product subsectors fell.

The agency says manufacturing sales fell 1.3 per cent to $69.4 billion in August, after rising 1.1 per cent in July.

The drop came as sales in the primary metal subsector dropped 6.4 per cent to $5.3 billion in August, on lower prices and lower volumes.

Sales in the petroleum and coal product subsector fell 3.7 per cent to $7.8 billion in August on lower prices.

Meanwhile, sales of aerospace products and parts rose 7.3 per cent to $2.7 billion in August and wood product sales increased 3.8 per cent to $3.1 billion.

Overall manufacturing sales in constant dollars fell 0.8 per cent in August.

This report by The Canadian Press was first published Oct. 16, 2024.

The Canadian Press. All rights reserved.

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