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Former White House Director of Economic Policy

The coronavirus pandemic continues to spread rapidly, and economies around the world are feeling the pain. U.S. stocks have been reeling and early economic data point to a recession for the U.S. economy.

The U.S. government needs to act swiftly and decisively, according to Todd Buchholz, former White House director of economic policy under President George H.W. Bush.

“There is no doubt that businesses are hurting, terribly, large businesses and small businesses. The service sector, in particular,” Buchholz said Monday on Yahoo Finance. “The government is desperately going to need to help the service sector — restaurants, hotels [and the] cruise ship industry.”

The current environment is different from any previous recession or depression, Buchholz argued. “This is a problem where we have a biological disaster and a government that is essentially telling companies, ‘Do not do business now.’”

A view of the Costa Luminosa cruise ship that was hit
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House Democrats unveil bill to cancel $30,000 in student debt per borrower amid coronavirus

House Representatives Ayanna Pressley (D-MA) and Ilhan Omar (D-MN) are pushing Congressional negotiators to cancel student debt to help borrowers adversely affected by the coronavirus, or COVID-19.

The legislation, called the Student Debt Emergency Relief Act, proposes the cancellation of at least $30,000 in outstanding debt, tax-free. and proposes that the Education Department (ED) “immediately assume responsibility” for the monthly payments of borrowers who hold federal loans while suspending involuntary collections or garnishments of wages or federal income tax returns amid the crisis.

“During this unprecedented crisis, no one should have to choose between paying their student loan payment, putting food on the table or keeping themselves and their families safe and healthy,” Rep. Pressley said in a statement. “We must prioritize debt cancellation for the 45 million student loan borrowers who are struggling to pay off their debt during this difficult time.”

Congresswoman Ayanna Pressley helps kick off

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Google search for ‘Should I buy a house’ is at all-time high

Should I buy a house? That is the question on Americans’ minds — literally, Google search data shows.

Google searches in the U.S. for “Should I buy a house” doubled in March from last month, reaching an all-time high last week, according to Meyers Research. The jump could mean that potential homebuyers are torn between taking advantage of historically low interest rates and waiting to see the effect that the coronavirus outbreak will have on the economy. 

“Why are they [Americans] searching that [“Should I buy a house”]? Is it because rates are low, and they want to buy? Or because they were looking, and now they wonder if it’s still OK to buy?,” said Ali Wolf, director of economic research for Meyers Research, who flagged the data from Google Trends, a real-time indicator of consumer sentiment. Google began collecting search data in 2004.

Since the beginning of March, Google

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