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In the Know: February 13, 2020

Days to the November Election: 264

2020 Election
The 8 Democrats running for president and everything else you should know about 2020, Vox
Why Trump is very beatable, Axios
Large majority of Americans expect that foreign governments will try to influence the 2020 election, Pew Research

Agriculture
BRAZIL’S SOYBEAN HARVEST 16% COMPLETE, Successful Agriculture
USDA HIRING AUDITORS TO ENFORCE THE NATIONAL ORGANIC STANDARDS, Successful Agriculture

Congress
Senate Dems fear Cotton amendment will sink war powers bill, Politico Continue reading “In the Know: February 13, 2020”

Fed Chair Powell warns Congress that $1 trillion budget deficits are unsustainable

Powell also said it is ‘very likely’ the coronavirus will impact the U.S. economy, but it is too early to tell how much or for how long

Federal Reserve Board Chair Jerome H. Powell told Congress on Tuesday that now would be a good time to reduce the federal budget deficit, which is expected to top $1 trillion this year.

“Putting the federal budget on a sustainable path when the economy is strong would help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy during a downturn,” Powell said in testimony to the House Financial Services Committee.

In past recessions, the Fed has played a large role in reviving the economy by sharply cutting interest rates. But Powell has been warning lawmakers that the central bank won’t have much ammunition left to fight the next downturn because interest rates are so low (the benchmark rate is just below 1.75 percent, far below rates above 5 percent in the past). Continue reading.

In the Know: February 12, 2020

Days to the November Election: 265

2020 Elections
6 Takeaways From The New Hampshire Primary, NPR
Andrew Yang suspends his 2020 presidential campaign, Vox
Michael Bennet Drops Out of the 2020 Presidential Race, New York Times
Deval Patrick drops out of 2020 presidential race, Axios

Agriculture
TRUMP AGAIN PROPOSES LARGE CUTS IN CROP INSURANCE, Successful Farming
Markets Remain Stable After USDA Report, Ag Web

Congress
Senate GOP blocks three election security bills, The Hill
Senate to rein in Trump’s war powers after Iran strike, Politico
Doctors Push Back As Congress Takes Aim At Surprise Medical Bills, NPR
House panel advances bipartisan surprise billing legislation despite divisions, The Hill Continue reading “In the Know: February 12, 2020”

Budget sets up a contrast with Trump’s Democratic rivals as it slashes safety net programs

The White House on Monday proposed a $4.8 trillion election-year budget that would slash major domestic and safety net programs, setting up a stark contrast with President Trump’s rivals as voting gets under way in the Democratic presidential primary.

The budget would cut Medicaid and the Children’s Health Insurance Program and also wring savings from Medicare despite Trump’s repeated promises to safeguard Medicare and Social Security.

It takes aim at domestic spending with cuts that are sure to be rejected by Congress, including slashing the Environmental Protection Agency budget by 26.5 percent over the next year, and cutting the budget of the Health and Human Services department by 9 percent. HHS includes the National Institutes of Health and the Centers for Disease Control and Prevention, which will see a budget cut even as the coronavirus spreads — although officials said funding aimed at combating the coronavirus would be protected. Continue reading.