Biden

Biden overtakes Trump on betting markets as coronavirus pandemic undermines president

What a difference a week makes.

President Donald Trump is no longer favored to win re-election in November, according to data from several predictive markets, with former Vice President Joe Biden overtaking the president for the first time as the world struggles to contain the fallout from the coronavirus pandemic.

As early as last week, oddsmakers forecasted Trump as an overwhelming shoe-in for reelection on markets: Paddy Power, Smarkets and US-Bookies all had a Trump victory baked in. Yet as COVID-19 morphed into a pandemic, his chances have steadily declined, with those same sites now showing Biden pulling even or ahead.

In fact, the rout in stock markets — once a source of bragging rights for Trump — have gravely endangered his re-election prospects, according to a separate forecasting model by Moody’s Analytics.

“Odds are a prediction and a reflection of perceptions of outcomes. Trump’s chance of winning the

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Biden defends vote on 2005 law that made it harder to escape student debt

Presidential candidate Joe Biden may have endorsed former opponent Elizabeth Warren’s plan to reform the consumer bankruptcy system to make it easier to discharge student debt, but his voting history on the issue continues to haunt him.

In 2005, then-Senator Biden voted for a bill called the Bankruptcy Abuse Prevention and Consumer Protection Act. The bill was meant to address abuse of the bankruptcy process. It made it more difficult to declare bankruptcy, and much, much harder to have student debt discharged. Under the 2005 law, educational loans can only be discharged if not doing so would impose an “undue hardship.”

“The bankruptcy bill was passing overwhelmingly, and I improved it,” the former U.S. vice president stated during the Democratic presidential debate in Washington, D.C. on Sunday. “I had a choice, it was going to pass — Republican president, Republican Congress, and I offered two amendments to make sure

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On Social Security, Joe Biden and Biden Sanders said ‘go to the YouTube’. Here’s what voters will find there

During a debate dominated by the ongoing coronavirus crisis, it was the exchange on Social Security that perhaps got the most heated.

“Why don’t you just tell the truth here?” Sen. Bernie Sanders said at one point.

“Oh come, on Bernie,” former Vice President Joe Biden later shot back.

The flash point was over a series of clips that each campaign is circulating to try and tell a different story about Biden’s record on the issue. 

“America, go to the website right now,” said Sanders. “Go to the YouTube right now.”

The back and forth comes just ahead of a vote in Florida and other states where Social Security is sure to be an important issue. If Biden’s overwhelming lead in the state holds, he is likely to entrench his status as the overwhelming favorite to become the Democratic nominee. 

For Sanders, it’s one of his last hopes to

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Joe Biden outlines his plan for a “major, major, major bailout package”

During Sunday’s debate, former Vice President Joe Biden noted that in building a response to the coronavirus crisis, his options were limited.

“We’ve eaten a lot of our seed corn here” he said pointing towards President Trump’s 2017 tax cut and the fact that the Federal Reserve has now cut interest rates to zero for the first time since the financial crisis.

It was in that context that he outlined “a major, major, major bailout package” that he said would be focused on individuals and not on corporations.

He described a far reaching plan that would “let people know their mortgage is going to be paid. Their rents are going to be paid. They are going to have child care. They are going to make sure that all their medical bills are cared for relating to this et cetera.”

The plan he outlined builds on what he proposed earlier in

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Oddsmakers see Biden ‘within touching distance’ of Trump as coronavirus crisis spirals

Joe Biden is riding a string of primary victories that have bolstered his chances among oddsmakers to win the Democratic presidential nomination, who see him “within touching distance” of President Donald Trump as the coronavirus outbreak upends the U.S. landscape.

After a blowout win in South Carolina two weeks ago, Biden’s momentum has carried him to a string of impressive primary contest wins that appear to have neutralized former frontrunner Bernie Sanders — which included Tuesday’s knockout blow in Michigan. A string of shutouts across the South have given Biden a commanding delegate lead over the Vermont Senator.

According to new data from Smarkets, the former vice president’s wins on Tuesday give him a 93% chance to win his party’s nod, with Sanders’ odds dwindling to 2%. Two other predictive markets, Real Clear Politics and Paddy Power, put Biden’s chances at well over 80%.

And while Trump remains favored to

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