Wednesday January 22, 2020
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U.S. Government Shutdown Continues, Weekend Talks Planned

About 800,000 federal workers have been furloughed or are working without pay. As of Friday, the partial shutdown had been in effect for 14 days.

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Caravans from Central America have inflamed the debate over U.S. immigration policy, with U.S. President Donald Trump using the migrants to try to secure backing for his plan to build a border wall on the frontier with Mexico., VOA

A partial U.S. government shutdown showed no sign of ending soon Friday as White House and congressional aides prepared to work through the weekend to try to resolve a stalemate over funding for U.S. President Donald Trump’s proposed U.S.-Mexico border wall.

Trump said he’d had a “very productive” meeting with congressional leaders to try to end the shutdown, which was triggered by disagreement over $5.6 billion in funding to build the wall.

But Democratic congressional leaders characterized the White House meeting differently.

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House Speaker Nancy Pelosi, D-Calif., speaks to reporters after meeting with President Donald Trump about border security in the Situation Room of the White House, Jan. 4, 2019. VOA

House Speaker Nancy Pelosi, who assumed leadership of the newly sworn in House Democratic majority Thursday, called the almost two-hour meeting “contentious.” She continued her oft-repeated assertion that agreement on the wall’s funding “cannot be resolved until we open up the government.”

Senate Democratic leader Chuck Schumer told reporters the president threatened to keep the government closed for “a very long period of time, months or even years.”

Despite comments from the Democratic lawmakers that little progress was made, Trump said that “we’re on the same path” to reopen the government. He touted the benefits of “a solid steel or concrete structure” along the border.

The White House said talks on the funding impasse with House and Senate staff members were set for 11 a.m. EST Saturday.

Vice President Mike Pence, Homeland Security Secretary Kirstjen Nielsen and adviser Jared Kushner have been chosen to work with the congressional delegation.

‘We’re not doing a wall’

The House passed a bill Thursday to reopen shuttered federal government agencies. The measure did not, however, include the $5.6 billion the president has demanded for the wall.

“We’re not doing a wall,” Pelosi vowed Thursday. She suggested that the money could better be used for improving border security technology and hiring more border agents.

However, Senate Majority Leader Mitch McConnell called the House plan to end the shutdown “political theater.”

The Senate passed an identical bill last month, while Republicans still controlled both chambers of Congress.

The legislation passed Thursday in the House called for the reopening of the federal government and the funding of the Department of Homeland Security (DHS) until early February.

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U.S. Senate Majority Leader Mitch McConnell, R-Ky., is surrounded by reporters as he returns from meeting with President Donald Trump and Democratic leaders at the White House, at the U.S. Capitol in Washington, Jan. 2, 2019. VOA

While Trump himself has not used the word “veto,” other White House officials have. One official said the president told Democratic leaders he would “look foolish” if he ended the shutdown.

Trump is blaming Democrats for the current situation after insisting on Dec. 11 he would be “proud” to shut down the government if his demand for wall funding was not met.

On Friday, in response to a reporter’s question, Trump defended that comment. “I’m very proud of what I’m doing,” he said. “I don’t call it a shutdown.”

But he confirmed that he’d told Democrats a shutdown could go on for months or a year or longer.

“I don’t think it will, but I am prepared and I think I can speak for Republicans in the House and Republicans in the Senate. They feel very strongly about having a safe country, having a border that makes sense,” he said.

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Federal contractor Chris Erickson paints his bathroom, Jan., 4, 2019, in North Salt Lake, Utah. Erickson says he’ll run out of vacation days if the shutdown continues. The father of three from Salt Lake City will then crack into his savings, and he’ll likely postpone a 14th wedding anniversary trip with his wife to a cabin. Erickson said he likely won’t get the chance for reimbursement for the lost days because he’s a contractor. VOA

DHS seeks help

Also Friday, the Pentagon said it had received a request from DHS for additional help securing the U.S. southern border.

A defense official told VOA that the Pentagon was reviewing the request for “additional capabilities at the border.” The official would not elaborate on what specific capabilities DHS requested.

DHS is among the government agencies left unfunded because of the shutdown, but Congress has funded the Defense Department through Sept. 30, 2019.

Also Read: US House Votes to Reopen Government, Rejects Wall Money by Donald TrumpA

About 800,000 federal workers have been furloughed or are working without pay. As of Friday, the partial shutdown had been in effect for 14 days. This is the fourth-longest government shutdown, partial or full, in the last 40 years.

A Reuters/IPSOS poll conducted mostly after the shutdown began found that 47 percent of adults held Trump responsible for the stoppage, while 33 percent blamed congressional Democrats and 7 percent blamed congressional Republicans. (VOA)

 

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This Decade to be Good for the Financial Health of Millennials

2020s Could Be Decade Millennials Finally Get Ahead

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Millennials
Share on Facebook Share on Twitter Share via Email Print this page The 2020s might be the decade faltering millennials finally roar to financial health. Pixabay

By Dora Mekouar

The 2020s might be the decade faltering millennials finally roar to financial health and lifestyle after a tough start brought on by the Great Recession, which lasted from 2007 until 2009.

Coming of age during the worst economic downturn in the United States since the 1930s meant that many of these young people, who are now in their mid-20s to late-30s, experienced a delayed entrance into the job market or accepted lower-paying jobs for which they were overqualified.

Many millennials were hard hit due to a variety of factors, including high unemployment, student loan debt, and an increased cost of living, particularly if they graduated from high school or college during the downturn.

Millennials
Millennials Andy and Stacie Proctor stand in their new home in Vineyard, Utah. VOA

“Since then, we’ve really had a lot of wage stagnation, particularly given that so many millennials started behind where they thought they would be,” says Jason Dorsey, president and lead millennial researcher at the Center for Generational Kinetics. “And it’s taken them longer to recover — if they have recovered.”

Experts also say U.S. millennials are the first generation to feel the full impact of decades of rising inequality in America.

A recent study found millennials are significantly financially worse off than previous generations were at the same age. Since 1996, the net worth of people under 35 has dropped by more than one-third, or 34 percent.

But things could be looking up for these younger Americans now that the average U.S. millennial is over the age of 30 and poised to enter the wealth-accumulation stage of their life.

“They’ve had a lot of time to learn about what it takes to succeed? What are the kinds of decisions that lead to the outcome that you want?” Dorsey says. “And for many millennials, boomers [people aged 55 to 75] are finally going to transition increasingly out of the workforce, which is going to create opportunity for them to actually move up into more management-style roles.”

Millennials
Juan Hernandez, 25, is among millennials nationwide with student debt who are worried about being able to qualify for a loan and come up with a down payment for a home. VOA

Millennials are at the age when Americans traditionally buy homes, start saving for the future, and invest for their retirement. It also will help that many have paid down their student debt now that they’ve been out of college for a number of years.

“And at the same time, many of them will become potentially two-income households and that’s also really helpful for many of them,” Dorsey says. “It’s sort of a perfect storm. It just happens to align with the 2020s. It’s not that the 2020s are this famous decade, but more so that millennials are hitting the times when they should start really saving and investing, and earning higher incomes relative to their spending.”

Also Read- Lower Physical Activity in Adulthood Leads to Obesity: Study

And if millennials blame previous generations for their current financial straits, it might cheer them up to know this is also the time many of them can expect to start inheriting wealth from their more well-off baby boomer parents or other relatives. (VOA)