Home / Articles / The Effect of COVID-19 on Government Debt, Borrowing, and Spending
The COVID-19 pandemic has brought shortages of many things, from ventilators in hospitals to hand sanitizer on store shelves. Also in deficit is economic activity, as people are prevented from spending and working by stay-at-home orders. Tax revenue is in deficit, too, causing federal budget shortfalls of a scale not seen since World War II. Most states are in such dire financial straits that some politicians have even proposed letting them file for bankruptcy. At the federal level, the government budget deficit may be 17% of gross domestic product (GDP) in 2020, estimates the nonpartisan Congressional Budget Office (CBO), though it could well be higher. Deficits of consumption and production are guaranteed to produce deficits on the government’s balance sheet.
What of surpluses? The most obvious surplus is of deaths, caused by the virus. America’s Centers for Disease Control and Prevention (CDC) only collects mortality data with a long lag, so it is difficult to measure excess death in the United States. But in New York City, the center of America’s epidemic, three times as many people have died this spring than is normal—a surplus of over 20,000 deaths. The number is likely to keep growing for several weeks.
3. "The Walking Dead" (3.6 million) As a brand, Acura sold 167,843 cars and trucks last year, a 1.5% increase. Lexus, Toyota’s premium brand, was up 13.7%; BMW was up 9.8%, Audi was up 15.2% and Mercedes-Benz was up 6.5% in a U.S. market that was very favorable for luxury vehicle manufacturers. It’s no surprise that credit is “pro-cyclical.” When asset prices are booming, optimistic lenders tend to make more loans and often feed the euphoria. When markets sink, lenders rein in risk and sometimes make the downturn worse. spoon Leatrice Eiseman, the executive director of the Pantone Color Institute, said the joining of the two colors reflected “a soothing sense of order and peace” — presumably an attractive thing to incorporate into a product at a time of insecurity and global turbulence. It also implies that there is no line between “us” and “them.” Until now, the appeal of Bigcommerce’s eponymous technology has been simplicity and its ability to scale along with merchants as they grow. “To some, this will mean the difference between success and failure,” said Steve Case, who as a board member advises Bigcommerce on U.S. entrepreneurial trends. “Even just five years ago, if you wanted to create a compelling offering, it could cost hundreds of thousands of dollars. Now, you can get up and running in hours for less than $100 per month.” 3、消极 China is spending heavily on renewable and nuclear energy as it tries to slow the growth of coal, but despite those efforts it has become by far the largest emitter of greenhouse gases. Its emissions of 10 billion tons a year of carbon dioxide from the burning of fossil fuels and cement manufacturing are almost twice those of the United States, though emissions per person are still far higher in the United States. The Lost Tomb is an action and adventure TV adaption of a popular online novel by Xu Lei. This is the first seasonal online TV series in China and the novel is scheduled to be dramatized in eight seasons, one season for each year. The first season was released in June of 2015. The novel series of the same name is about several people`s adventure in ancient tombs, and it enjoyed a wide readership since it was released online in 2006. Thus the adapted TV series had been accordingly highly expected by its fans but turned out to be disappointing. Although there were 24,000,000 hits on the web within the first two minutes of its debut, the season was later criticized by the audiences for its weak storyline and poor quality. Some lines of the series even became jokes on the social media. 《老友记》里几乎都是白人演员，所以它在当时并不是一部以兼容并包著称的电视剧。剧中的主要角色没有一个是"非主流"。甚至乔伊还经常拿罗斯的第一个老婆是同性恋这事开玩笑，而且经常能在台词中看到性别歧视的只言片语。
Consoles: Xbox One, Xbox 360 Honda hopes NSX will burnish its reputational halo for technical expertise. The automaker also wants NSX to help boost Acura’s brand image as a maker of premium cars and trucks. Last year, Honda’s U.S. sales rose 1% against a market that increased by 5.9% – resulting a loss of market share, most importantly, lost ground against its two main rivals, Toyota and Nissan. 8、苹果发布会 This year so far, Stephen Chow’s The Mermaid has made $526 million since its release in early February during Lunar New Year. James Bond Themes 7. "Nobody Does It Better" by Carly Simon 回归白人占统治地位的社会，实施排外的国民身份认同，这样的事情不太可能发生。移民一旦停止，肯定会损害西方国家的经济；如果大举驱逐已经到达的移民，肯定会引起社会与道德上的损失。那些看似来“插队”的人群其实是在寻觅一个机会，加入到一个长久以来把他们拒之门外的进程中来。
9. The Chinese militarywill demand and receive vastly expanded investments in the form of advancedaircraft and ships. ['k?mpleks] 在土耳其问题上，普京表示，他看不到与现任土耳其领导人消除紧张关系的可能性。土耳其不久前击落了一架俄罗斯战机。他说，他非常震惊地看到，土耳其非但没有对其行为做出解释，反而转向北约寻求帮助。 Are you ready for a summer scare? Conjuring 2: The Enfield Poltergeist is set to hit the screens on June 10, 2016. We reckon that this is going to be a good horror movie. 201011/117323.shtmlThe French actress will star alongside Ryan Gosling, Michael Fassbender and Natalie Portman. 来自用卫星采集的独立温度测量结果没有显示2014年是记录年，但是接近记录。几位科学家说，卫星测量的数据反映的是大气层的温度，而不是地球的表面温度，所以卫星数据会与来自地面和海洋表面的测量结果略有不同，并不奇怪，而表面的温度测量显示了创记录的温暖。 Type D personalities usually have a low self-esteem and a great fear of disapproval and this is the primary reason that prevents them from opening up to others. The import side of the equation fared worse in both renminbi- and dollar-terms.
The U.S. Federal Reserve has said it could buy unlimited quantities of U.S. Treasuries (government bonds). Estimates suggest that the size of its balance sheet—i.e., the number of bonds it has bought—could double or almost triple over the course of the year. In addition, the Federal Reserve is also buying new types of assets in new ways. It has promised to buy $600 billion in loans to small- and medium-sized businesses and $500 billion in bonds issued by certain state and local governments—on top of existing programs such as buying bonds backed by mortgages. After the 2008 crisis, the Federal Reserve launched a series of programs called “quantitative easing”—essentially, bond purchases aiming to drive up asset prices and spur lending. Today, the Fed is on target to buy the same quantity of assets that it purchased in the decade after 2008—but now in several months rather than 10 years.
Rounding out our top five is Sandra Bullock, one of only two women on our list (the other is Jennifer Lawrence in 10th place). Bullock had two big hits this year in two very different genres: Gravity was a tense thriller that will likely earn her another Oscar nomination, while The Heat was a cop comedy that kicked butt at the box office, bringing in $230 million globally. The issues addressed in friends — relationships, careers, and friendship — continue to be relevant to today’s youth. China's Internet celebrities are estimated to create a whopping 58 billion yuan ($8.7 billion) market in 2016, far surpassing the 44 billion yuan in box office sales generated last year, according to an industry report. popul人民+ar…的→流行的 该协会的首席经济学家Lawrence Yun预计，到今年年底，30年期固息抵押贷款的平均利率将触及5.5%，高于去年底的4.5%和去年上半年的3.5%。抵押贷款利率在短期内如此急剧上升，可能会损害购房者的承受能力，甚至吓退更多购房者。 Benchmark oil prices dropped below $40 a barrel last week, the lowest level in six years, darkening investor sentiment towards commodity-linked companies and exporting countries including Brazil, Russia and South Africa. Airbnb的紧要关头 现在，库里和他的金州勇士队正行进在为创造又一个成就的正确道路上。
She has also performed on Jimmy Kimmel and The Ellen Show - not bad for someone who hasn't even hit adolescence. adj. 方便的，便利的 At that time, the chief executive was also under pressure, given Apple’s lack of clear product direction beyond milking the iPhone. Sensing blood, activist investors began to circle the company; first David Einhorn, then Carl Icahn, have lobbied for changes to how Apple is run and manages its finances. Mr Icahn has pushed for Apple to raise huge debt to return up to $150bn to shareholders and urged it to release more products, including a television set. The impact of sluggish growth on year-end payouts may have peaked in 2015, however, when 66 per cent of white-collar workers received no year-end bonus. And the 2016 level actually represents an improvement from 2014, when 61 per cent had to go without. Justin Bieber剃发募捐 集得4万美金 As the calendar flips to December it’s not too early to think about the inevitability of tanking. Who should do it, who should wait, and who shouldn’t ever consider it. Flanns and Zillz discuss. 无从业资格的司机从事网约车服务将面临1万（折合1500美元）至3万元（折合4500美元）的罚款。
Consumers in many parts of the world have a preference for buying local which has helped boost the value of local brands. Whether China opens the stock floodgates or not will be a major price-driver in cotton and sugar — and potentially also in corn, soyabean or vegetable oil — markets in 2017, the bank said in its report. 苹果公司和中国移动之间的协议尘埃落定之后，有关苹果下一款重大产品发布的供应链传言又开始浮现。Digitimes报道称，据“上游供应链的消息”，苹果公司正酝酿在明年5月发布一款5英寸屏幕的iPhone 6“平板手机”，在明年10月发布一款大尺寸平板电脑。 President Obama leads the pack. On top of the $400,000 a year, he gets a tax-free expense account worth $50,000. The salary was last raised by Congress in 2001. Format: After a one-week orientation, classes are held on alternating weekends on Fridays and Saturdays, with accommodations provided on Friday nights. Final term sessions are held on campus for two weeks with the remainder of the term completed online. “It is exceptionally unlikely that we would be witnessing a record year of warmth, during a record-warm decade, during a several decades-long period of warmth that appears to be unrivaled for more than a thousand years, were it not for the rising levels of planet-warming gases produced by the burning of fossil fuels,” Michael E. Mann, a climate scientist at the Pennsylvania State University, said in an email. 克里斯汀“伯德小姐”是一名高中生，她“家里贫困拮据”，但却向往冒险成熟的生活，憧憬机遇的来临。但在她所就读的萨克拉门托天主教学院她却什么也寻求不到。影片讲述了主角高三一年的经历，包括她第一次恋爱，她在学校参加舞台表演，以及最重要的，她申请大学的故事。 5、低效的邮件沟通
公告宣称："我们已经报警，并且收集了证据来维护公司的声誉。而那些泄露裸照的人将被按照法律惩处。" 周边环境：这栋房屋坐落在摩德纳岛(Modena Island)，距萨凡纳市中心大约20英里（约32公里）。据该房源的代理人说，该社区设有门禁，在栎树丛与咸水湿地之间坐落着大约20栋房屋。摩德纳岛是斯基达韦岛(Skidaway Island)的一部分，岛上有一座由佐治亚大学的海洋学研究所和一座大型州立公园。 5. “Carol” (Todd Haynes) 经济学人智库生活成本指数编辑乔恩?科派斯塔克表示，最显著的变化之一是澳大利亚生活成本的上升，它的两个城市悉尼和墨尔本分别名列第三和第五。夹在中间排名第四的是挪威的奥斯陆。 The annual national civil service exam kicked off last Sunday, and some recent hot topics - such as college graduates starting their own businesses and the Yutu (Jade Rabbit) lunar rover - appeared in the exam questions. 近日公布的一份调查结果显示，清华大学毕业生的平均薪酬在全国高校毕业生中最高。 尽管很多人总把保时捷与纯性能车联系在一起，但近年来保时捷扩大了他们的阵容，包括帕纳梅拉，即为上图的豪华车型，除此外还有卡宴和小卡宴SUV。根据多数评论家，帕纳梅拉不仅继承了保时捷强大的性能，还满足了使用者对高端内置和联网特性的需求。 5月30日，日本南部海岸附近发生了强烈地震，使中国民众担心，继2011年后，类似海啸和福岛核电站熔融的大灾难会再次发生。不过，最后并没有出现人员死亡或重大损毁的报道。 3. The 2012 Ig Nobel Accoustics Prize 勇士的横扫，实际上让那些试图挑战勇士的球队无力追赶勇士的脚步，致使联盟在季后赛收入上损失惨重。于是，总决赛便成了战胜勇士的最后的希望，也是最后的机会。总有些愚蠢的人通过不断告诉你不要低估了勒布朗·詹姆斯来让你重燃希望。我看了所有五场詹姆斯在的总决赛，我现在客观的告诉你：詹姆斯知道自己赢不了。“我能做什么？他们赢了73场比赛，我打败了他们，于是他们引进了凯文杜兰特。”在凯文杜兰特用自己的冷血投射杀死系列赛之前，骑士还设法在三场比赛中夺得了一场胜利。但最后，骑士队虽然避免了横扫的尴尬，但他们结束赛季的方式也只能用虎头蛇尾来形容。 周三，北京市发改委主任卢彦在新闻发布会上说：“我们将会在通州开展297个项目，例如建设地铁线和高速路及改善生态环境。” Iron ore imports fell 12.3 per cent by volume in October from the previous month and 4.9 per cent from the same month a year earlier while coal imports were down 21.4 per cent from September and 30.7 per cent from a year earlier, according to Chinese customs data.
谅解是赢家永远不会拿走一切。 Comic skit “Happiness Of Today II” (Shen Teng, Ma Li etc) But despite the anticipation, it seems the underwear brand's debut in the Chinese city is not going entirely to plan. slouch 35岁的阿德里亚娜·利马身着一件凸显身材的白色抹胸式礼服。这位巴西模特选择了简单又时髦的装扮，她把头发扎了起来，戴着一条抢眼的项链，项链上缀满了钻石。