cnbc--2020-03-22--Trump activates National Guard in California, New York and Washington state to fight coronavirus out

Trump activates National Guard in California, New York and Washington state to fight coronavirus outbreak

Members of the Maryland Army National Guard arrive at Adventist HealthCare White Oak Medical Center to set up a triage tent in the parking lot outside of the emergency room on March 19 , 2020 in Silver Spring , Maryland .
Hospitals across the country are preparing for an influx of additional patients due to the COVID-19 pandemic .
President Donald Trump on Sunday announced that he has activated the National Guard in California , New York and Washington state in order to combat the spread of the coronavirus .
The administration emphasized that the deployment of guard members is @ @ @ @ @ @ @ will retain command of the National Guard , but the Federal Emergency Management Agency will cover all costs of the missions to respond to the virus outbreak .
`` We 're dealing also with other states .
These states have been hit the hardest , '' the president said during a White House press briefing .
As of Sunday morning , at least 7,300 National Guard members have been deployed to fight the virus in all 50 states , Washington D.C. and Puerto Rico .
`` The federal government has deployed hundreds of @ @ @ @ @ @ @ pile to locations with the greatest need in order to assist in those areas , '' Trump said .
Supplies include gloves , hospital beds , N95 masks and gowns that will be delivered in the next couple days , the president said .
California , New York and Washington state have been the most affected states amid the pandemic , which has escalated significantly in U.S. over the past week .
New York has more than 15,000 confirmed cases , up more than 4,000 since Saturday , followed by Washington state at @ @ @ @ @ @ @ .
Earlier in the month , New York Governor Andrew Cuomo deployed the National Guard to New Rochelle , the suburb outside of New York City that has a large cluster of virus cases .
Cuomo has urged the federal government to mobilize the military to fight the pandemic .
The number of global cases surged past 300,000 on Sunday , with over 13,000 deaths across the world , according to data from Johns Hopkins University .

Members of the Maryland Army National Guard arrive at Adventist HealthCare White Oak Medical Center to set up a triage tent in the parking lot outside of the emergency room on March 19, 2020 in Silver Spring, Maryland. Hospitals across the country are preparing for an influx of additional patients due to the COVID-19 pandemic.
President Donald Trump on Sunday announced that he has activated the National Guard in California, New York and Washington state in order to combat the spread of the coronavirus. The administration emphasized that the deployment of guard members is not martial law.
The state governors will retain command of the National Guard, but the Federal Emergency Management Agency will cover all costs of the missions to respond to the virus outbreak.
"We're dealing also with other states. These states have been hit the hardest," the president said during a White House press briefing.
Trump used martial language during the briefing, echoing the governor of New York state and the mayor of New York City, who have criticized the president for not acting more forcefully. New York has the most confirmed cases and deaths in the United States.
"I'm a wartime president," Trump said. "This is a war — a different kind of war than we've ever had."
As of Sunday morning, at least 7,300 National Guard members have been deployed to fight the virus in all 50 states, Washington D.C. and Puerto Rico.
"The federal government has deployed hundreds of tons of supplies from our national stocks pile to locations with the greatest need in order to assist in those areas," Trump said.
Supplies include gloves, hospital beds, N95 masks and gowns that will be delivered in the next couple days, the president said.
California, New York and Washington state have been the most affected states amid the pandemic, which has escalated significantly in U.S. over the past week. New York has more than 15,000 confirmed cases, up more than 4,000 since Saturday, followed by Washington state at roughly 1,700 and California at about 1,500.
Earlier in the month, New York Governor Andrew Cuomo deployed the National Guard to New Rochelle, the suburb outside of New York City that has a large cluster of virus cases. Cuomo has urged the federal government to mobilize the military to fight the pandemic.
The number of global cases surged past 300,000 on Sunday, with over 13,000 deaths across the world, according to data from Johns Hopkins University.


cnbc--2020-03-22--Sen. Rand Paul tests positive for coronavirus

U.S. Sen. Rand Paul ( R-KY ) takes an elevator at the U.S. Capitol for a vote on March 18 , 2020 in Washington , DC .
Sen. Rand Paul , R-Ky. , has tested positive for coronavirus .
He is the first known U.S. senator to test positive .
`` Senator Rand Paul has tested positive for COVID-19 .
He is feeling fine and is in quarantine , '' Paul 's office wrote on twitter .
`` He is asymptomatic and was tested out of an abundance of caution due to his extensive travel and events .
He was @ @ @ @ @ @ @ any infected person . ''
He expects to be back in the Senate after his quarantine period ends .
No staff member has been in contact with Paul since his D.C. office began working remotely 10 days ago , according to the tweet .
But his diagnosis has set off concerns over whether other GOP senators who Paul was likely in contact with should immediately self-quarantine .
That 's triggered additional worries over how Congress will pass the major coronavirus economic stimulus legislation , as Democrats and Republicans have not yet reached a @ @ @ @ @ @ @ to vote against the first round of emergency coronavirus funding of $ 8 billion earlier this month .
Two members of the House – Mario Diaz-Balart , R-Fla. , and Ben McAdams , D-Utah – have tested positive , adding urgency to their efforts to hold votes on an economic relief package .
Several other House members said they had self-quarantined in recent days because of exposure to infected people .
The office of Sen. Mitt Romney , R-Ut.
, said Sunday that Romney will not vote on the Senate floor and will @ @ @ @ @ @ @ in contact with Paul in recent days .
Romney has no symptoms but will be tested for the virus , his office said .
Paul is one of the most hawkish senators on fiscal policy , often arguing against new spending .
He has repeatedly signaled opposition to the massive , multi-trillion dollar spending packages being negotiated by the White House and lawmakers on Capitol Hill .
He has instead proposed smaller measures including a payroll tax holiday and temporary enhancements to state unemployment programs .
As the virus continues to rapidly spread @ @ @ @ @ @ @ concern that more government leaders will become infected .
President Donald Trump tested negative for the virus after contact with Brazilian President Jair Bolsonaro 's press secretary , who tested positive .
Vice President Mike Pence also tested negative after a member of his office tested positive .

U.S. Sen. Rand Paul (R-KY) takes an elevator at the U.S. Capitol for a vote on March 18, 2020 in Washington, DC.
Sen. Rand Paul, R-Ky., has tested positive for coronavirus. He is the first known U.S. senator to test positive.
"Senator Rand Paul has tested positive for COVID-19. He is feeling fine and is in quarantine," Paul's office wrote on twitter. "He is asymptomatic and was tested out of an abundance of caution due to his extensive travel and events. He was not aware of any direct contact with any infected person."
He expects to be back in the Senate after his quarantine period ends. No staff member has been in contact with Paul since his D.C. office began working remotely 10 days ago, according to the tweet.
But his diagnosis has set off concerns over whether other GOP senators who Paul was likely in contact with should immediately self-quarantine. That's triggered additional worries over how Congress will pass the major coronavirus economic stimulus legislation, as Democrats and Republicans have not yet reached a deal.
Paul was the only senator to vote against the first round of emergency coronavirus funding of $8 billion earlier this month.
Two members of the House – Mario Diaz-Balart, R-Fla., and Ben McAdams, D-Utah – have tested positive, adding urgency to their efforts to hold votes on an economic relief package. Several other House members said they had self-quarantined in recent days because of exposure to infected people.
The office of Sen. Mitt Romney, R-Ut., said Sunday that Romney will not vote on the Senate floor and will immediately self-quarantine since the senator has been in contact with Paul in recent days. Romney has no symptoms but will be tested for the virus, his office said.
Paul is one of the most hawkish senators on fiscal policy, often arguing against new spending. He has repeatedly signaled opposition to the massive, multi-trillion dollar spending packages being negotiated by the White House and lawmakers on Capitol Hill.
He has instead proposed smaller measures including a payroll tax holiday and temporary enhancements to state unemployment programs.
As the virus continues to rapidly spread across the country, there is growing concern that more government leaders will become infected.
President Donald Trump tested negative for the virus after contact with Brazilian President Jair Bolsonaro's press secretary, who tested positive. Vice President Mike Pence also tested negative after a member of his office tested positive.
— CNBC's Kevin Breuninger contributed to this report


cnbc--2020-03-22--Governors across the nation slam federal coronavirus response: 'We didn't take this seriously'

State governors say their demands for more masks and other medical equipment are not being met , forcing them to compete with each other for critical supplies as the coronavirus pandemic escalates in the United States .
`` This should have been a coordinated effort by the federal government ...
It 's a Wild West out there ...
Indeed we 're overpaying for PPE because of that competition , '' Illinois Gov .
JB Pritzker said on CNN 's `` State of the Union . ''
PPE stands for personal protection equipment , which includes critical medical supplies such as @ @ @ @ @ @ @ Andrew Cuomo said Sunday that the federal government needs to nationalize the purchase of needed medical supplies , adding that the shortage of personal protective gear like masks and life-saving equipment like respirators is leading to price gouging .
Masks that used to cost 85 cents are now $ 7 because New York is vying with other states , according to Cuomo .
`` Currently when states are doing it , we are competing against other states .
In some cases , we 're savaging other states , '' Cuomo said .
`` @ @ @ @ @ @ @ manage , if we do n't get the equipment , we could lose lives that we could otherwise save if we had the equipment . ''

State governors say their demands for more masks and other medical equipment are not being met, forcing them to compete with each other for critical supplies as the coronavirus pandemic escalates in the United States.
"This should have been a coordinated effort by the federal government...It's a Wild West out there...Indeed we're overpaying for PPE because of that competition," Illinois Gov. JB Pritzker said on CNN's "State of the Union."
PPE stands for personal protection equipment, which includes critical medical supplies such as face masks.
New York Gov. Andrew Cuomo said Sunday that the federal government needs to nationalize the purchase of needed medical supplies, adding that the shortage of personal protective gear like masks and life-saving equipment like respirators is leading to price gouging.
Masks that used to cost 85 cents are now $7 because New York is vying with other states, according to Cuomo.
"Currently when states are doing it, we are competing against other states. In some cases, we're savaging other states," Cuomo said. "This is just an impossible situation to manage, if we don't get the equipment, we could lose lives that we could otherwise save if we had the equipment."


cnbc--2020-03-22--Chancellor Angela Merkel in quarantine after contact with doctor who tested positive for coronavirus

German Chancellor Angela Merkel arrives to make a press statement on the spread of the new coronavirus COVID-19 at the Chancellery , in Berlin on March 22 , 2020 .
German Chancellor Angela Merkel has made the decision to self-quarantine in her home after having contact with a doctor who tested positive for the coronavirus , making her the latest world leader to take precautions after possible exposure to the rapidly spreading disease .
Merkel was informed after a press conference Sunday that a doctor who administered a pneumococcal vaccine to her Friday afternoon tested positive for the virus , @ @ @ @ @ @ @ Merkel decided to immediately quarantine herself in her home , Seibert said .
She will be tested regularly over the coming days and will continue to conduct her duties as chancellor from home .
Her decision to self-quarantine comes as the coronavirus pandemic continues to escalate across Europe .
Earlier Sunday , Merkel announced that Germany was banning meetings of more than two people in public for the next two weeks to contain the spreading virus , bringing life in the European Union 's largest economy to a virtual standstill .
Exceptions to @ @ @ @ @ @ @ who live together and for work-related gatherings '' The great aim is to gain time in the fight against the virus , '' Merkel said during a press briefing Sunday .
Germany is one of the hardest-hit countries in the world , with more than 23,000 people who have tested positive , according to data from Johns Hopkins University .
At least 92 people have died from the virus in the country .
Europe is in a state of lockdown as the epicenter of the global pandemic has shifted from China to countries @ @ @ @ @ @ @ France .
These countries , the key economies in the EU , have closed all nonessential shops , crippling economic life in the bloc of nations that share the euro currency .
Italy has the highest number of reported infections outside China , followed by Spain , the United States , Germany , Iran , France and South Korea .
Germany has effectively closed its borders temporarily with France , Switzerland , Austria , Denmark and Luxembourg to stop the virus from spreading .
As the pandemic spreads , there is growing concern @ @ @ @ @ @ @ the virus , potentially impacting critical functions of government .
U.S. President Donald Trump tested negative for the virus after contact with Brazilian President Jair Bolsonaro 's press secretary , who tested positive .
Bolsonaro tested negative .
Vice President Mike Pence also tested negative after a member of his office tested positive .
Canadian Prime Minister Justin Trudeau 's wife tested positive for the virus .

German Chancellor Angela Merkel arrives to make a press statement on the spread of the new coronavirus COVID-19 at the Chancellery, in Berlin on March 22, 2020.
German Chancellor Angela Merkel has made the decision to self-quarantine in her home after having contact with a doctor who tested positive for the coronavirus, making her the latest world leader to take precautions after possible exposure to the rapidly spreading disease.
Merkel was informed after a press conference Sunday that a doctor who administered a pneumococcal vaccine to her Friday afternoon tested positive for the virus, according to her spokesman Steffen Seibert.
Merkel decided to immediately quarantine herself in her home, Seibert said. She will be tested regularly over the coming days and will continue to conduct her duties as chancellor from home. Her decision to self-quarantine comes as the coronavirus pandemic continues to escalate across Europe.
Earlier Sunday, Merkel announced that Germany was banning meetings of more than two people in public for the next two weeks to contain the spreading virus, bringing life in the European Union's largest economy to a virtual standstill. Exceptions to the rules are being made for people who live together and for work-related gatherings
"The great aim is to gain time in the fight against the virus," Merkel said during a press briefing Sunday.
Germany is one of the hardest-hit countries in the world, with more than 23,000 people who have tested positive, according to data from Johns Hopkins University. At least 92 people have died from the virus in the country.
Europe is in a state of lockdown as the epicenter of the global pandemic has shifted from China to countries like Italy, Spain, Germany and France. These countries, the key economies in the EU, have closed all nonessential shops, crippling economic life in the bloc of nations that share the euro currency. Italy has the highest number of reported infections outside China, followed by Spain, the United States, Germany, Iran, France and South Korea.
Germany has effectively closed its borders temporarily with France, Switzerland, Austria, Denmark and Luxembourg to stop the virus from spreading.
As the pandemic spreads, there is growing concern that world leaders like Merkel could contract the virus, potentially impacting critical functions of government.
U.S. President Donald Trump tested negative for the virus after contact with Brazilian President Jair Bolsonaro's press secretary, who tested positive. Bolsonaro tested negative. Vice President Mike Pence also tested negative after a member of his office tested positive. Canadian Prime Minister Justin Trudeau's wife tested positive for the virus.


cnbc--2020-03-22--The government budget deficit is about to explode to fight the coronavirus

Remember when people were all worked up over trillion-dollar government budget deficits ?
Those might seem like the good old days , once Congress and the White House finish up the coronavirus rescue package expected to be approved in the next few days .
Estimates of just how big the final bill would be vary , but it 's assured that it will be a historic moment for sheer fiscal force being exerted at a time of economic duress .
Administration statements over the past few days point to something on the order of $ 2 trillion in economic juice @ @ @ @ @ @ @ ushered an $ 831 billion package through during the financial crisis .
That type of fiscal burden comes as the government already has chalked up $ 624.5 billion in red ink through just the first five months of the fiscal year , which started in October .
That spending pace extrapolated through the full fiscal year would lead to a $ 1.5 trillion deficit , and that 's aside from any of the spending to combat the coronavirus .
Already , the national debt stands at more than $ 23.5 trillion and will @ @ @ @ @ @ @ trillion .
Taxpayers shelled out $ 574.6 billion in fiscal 2019 on interest payments for the debt and another $ 229.1 billion in fiscal 2020 .
In short , the shock from the COVID-19 spread will blow a fiscal hole through Washington , D.C. , that could take years if not decades to patch . '
A bridge to the other side' Hand-wringing over what this will all do to the debt and deficit situation , however , will have to wait for another day .
In times of crisis , there is @ @ @ @ @ @ @ a sense of urgency that while government spending ca n't stop the virus from spreading , it can mitigate what will be profound economic damage .
`` It 's truly a bridge to the other side of an act of God , '' economist Paul McCulley told CNBC.com .
`` We 'll deal down the road with the impacts on so many fronts of society with the whole thing .
Right now , worrying about fiscal incontinence is the exact opposite of where we should be .
We should have fiscal robustness implemented @ @ @ @ @ @ @ and monetary policy . ''
McCulley , a former managing director at asset management giant PIMCO and now a Cornell University fellow and adjunct professor at Georgetown , has been one of the leading thinkers in economics particularly since the financial crisis .
He coined the term `` Minsky Moment '' to describe sudden collapses in markets and `` shadow banking '' for non-bank lenders that were at the center of the crisis .
He 's an advocate of a philosophy that has taken more prominence over the past couple of years called @ @ @ @ @ @ @ that debt and deficits matter less in times of low inflation and that government spending should be used to address the widened wealth gap in the U.S. as the Fed keeps interest rates low .
Some of the biggest backers include Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez .
While the theory has some prominent detractors such as economist Larry Summers , it is likely to become the de facto law of the land as the coronavirus economic impact intensifies .
`` The bank of Uncle Sam needs to be open , period @ @ @ @ @ @ @ spending will look like Making that happen would take a variety of forms .
McCulley sees programs run jointly between the Treasury and Federal Reserve as key , with the central bank expected to keep interest rates flowing and liquidity programs running .
`` Saying that too much central bank independence can be a problem is something that 's considered to be heretic in my profession , '' he said .
`` That 's essentially what I 'm saying now . ''
This week 's stimulus is projected to be a combination of @ @ @ @ @ @ @ benefits to the millions who will be displaced from the retrenchment of activity due to social distancing and business closings , and bridge loans to businesses that will be incentivized not to lay off workers .
On top of that , the Treasury will offer guarantees to the Fed that Treasury Secretary Steven Mnuchin said would allow the central bank to leverage up to $ 4 trillion of liquidity for the business and financial system .
The total price tag ?
Unimportant , at least as long as the nation suffers through an @ @ @ @ @ @ @ is unemployed now gets a check and has gotten himself an asset that he can cash and go a store , '' McCulley said .
`` He 's gotten an asset but Uncle Sam has gone into a hole .
I have no problem with that whatsoever . ''
Still , there will be efforts to calculate the fiscal damage .
Moody 's Investors Service has been warning about deficit issues for some time , and said Friday that its previous scenarios are likely to look worse as government spending accelerates .
`` @ @ @ @ @ @ @ would increase the deficit to around 6.3 % of GDP by 2029 , but the coronavirus pandemic introduces significant downside risk to our medium-term fiscal outlook . ''
Moody 's analyst Gabriel Agostini said in a report .
`` On the revenue front , a coronavirus-induced slowdown will remove workers from payrolls and weaken federal tax revenue intake .
Combined with large sums of federal spending to support the economy , we expect the US fiscal deficit to rise to levels not seen since the 2008 global financial crisis , driving debt higher @ @ @ @ @ @ @ that low borrowing costs will help alleviate some of the burden .
The Fed a week ago slashed its benchmark interest rate to near-zero , and Treasury yields have been in historically low territory .
But the fiscal balance sheet still will look worse than it has since World War II .
During the financial crisis , the budget deficit as a share of GDP hit a high of 9.8 % .
Prior to that , the only worse period came during the war when the level hit 26.9 % in 1943 .
@ @ @ @ @ @ @ seems conservative given the current scenario , would push deficit to GDP to 9.4 % .
A $ 3 trillion shortfall , which seems like not much of a stretch , would take the level to 14 % .
Of course , the numbers are all fungible , and Mnuchin told Fox News that he expects short-term damage to the economy followed by `` gigantic '' growth in the fourth quarter of 2020 .
The administration 's efforts , though , are more geared to what 's happening now .
`` As fiscal @ @ @ @ @ @ @ quite substantially in the near term , '' said Jeremy Lawson , chief economist at Aberdeen Standard Investments .
`` If the government is n't filling that gap in that period where the private sector is retrenching , it effectively doubles the size of the economic shock that is taking place . ''
In fact , Lawson said monetary and fiscal authorities probably will have to step up their efforts .
He particularly said the Fed needs to get more aggressive because while `` it might feel like they 're throwing the kitchen @ @ @ @ @ @ @ you might say they 're only throwing the tap . ''
So as the shock of trillion-dollar deficits will now give way to the shock of multi-trillion dollar deficits , there is little else for authorities to do except keep pumping .
`` By using your balance sheet during the bad times , what you can actually do is help the long-term health of the budget by assuring there is an economy that can return when the private sector is able to start spending again .
Then the fiscal authority can unwind that @ @ @ @ @ @ @ , '' Lawson said .
`` Yes , it looks like it 's blowing a hole in the budget , but that 's probably necessary from keeping a bigger one from being blown open later on . ''

A sign showing the national debt and each Americans share is displayed on November 6, 2019 in Washington, DC. Tasos Katopodis | Getty Images
Remember when people were all worked up over trillion-dollar government budget deficits? Those might seem like the good old days, once Congress and the White House finish the coronavirus rescue package expected to be approved in the next few days. Estimates of just how big the final bill would be vary, but it's assured that it will be a historic moment for sheer fiscal force being exerted at a time of economic duress. Administration statements over the past few days point to something on the order of $2 trillion in economic juice. By contrast, then-President Barack Obama ushered an $831 billion package through during the financial crisis. That type of fiscal burden comes as the government already has chalked up $624.5 billion in red ink through just the first five months of the fiscal year, which started in October. That spending pace extrapolated through the full fiscal year would lead to a $1.5 trillion deficit, and that's aside from any of the spending to combat the coronavirus. Already, the national debt stands at more than $23.5 trillion and will be on track to eclipse $25 trillion. Taxpayers shelled out $574.6 billion in fiscal 2019 on interest payments for the debt and another $229.1 billion in fiscal 2020. In short, the shock from the COVID-19 spread will blow a fiscal hole through Washington, D.C., that could take years if not decades to patch.
'A bridge to the other side'
Hand-wringing over what this will all do to the debt and deficit situation, however, will have to wait for another day. In times of crisis, there is little patience for fiscal austerity, only a sense of urgency that while government spending can't stop the virus from spreading, it can mitigate what will be profound economic damage. "It's truly a bridge to the other side of an act of God," economist Paul McCulley told CNBC.com. "We'll deal down the road with the impacts on so many fronts of society with the whole thing. Right now, worrying about fiscal incontinence is the exact opposite of where we should be. We should have fiscal robustness implemented through effectively a joint venture between fiscal and monetary policy." McCulley, a former managing director at asset management giant Pimco and now a Cornell University fellow and adjunct professor at Georgetown, has been one of the leading thinkers in economics particularly since the financial crisis. He coined the term "Minsky Moment" to describe sudden collapses in markets and "shadow banking" for nonbank lenders that were at the center of the crisis.
watch now
He's an advocate of a philosophy that has taken more prominence over the past couple of years called Modern Monetary Theory — essentially the belief that debt and deficits matter less in times of low inflation and that government spending should be used to address the widened wealth gap in the U.S. as the Fed keeps interest rates low. Some of the biggest backers include Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez. While the theory has some prominent detractors such as economist Larry Summers, it is likely to become the de facto law of the land as the coronavirus economic impact intensifies. "The bank of Uncle Sam needs to be open, period," McCulley said.
What the spending will look like
Making that happen would take a variety of forms. McCulley sees programs run jointly between the Treasury and Federal Reserve as key, with the central bank expected to keep interest rates flowing and liquidity programs running. "Saying that too much central bank independence can be a problem is something that's considered to be heretic in my profession," he said. "That's essentially what I'm saying now." This week's stimulus is projected to be a combination of direct-deposit payments to individuals, extended unemployment benefits to the millions who will be displaced from the retrenchment of activity due to social distancing and business closings, and bridge loans to businesses that will be incentivized not to lay off workers. On top of that, the Treasury will offer guarantees to the Fed that Treasury Secretary Steven Mnuchin said would allow the central bank to leverage up to $4 trillion of liquidity for the business and financial system. The total price tag? Unimportant, at least as long as the nation suffers through an indefinite near-shutdown. "The dude who is unemployed now gets a check and has gotten himself an asset that he can cash and go a store," McCulley said. "He's gotten an asset but Uncle Sam has gone into a hole. I have no problem with that whatsoever." Still, there will be efforts to calculate the fiscal damage.
Most debt since World War II
Moody's Investors Service has been warning about deficit issues for some time, and said Friday that its previous scenarios are likely to look worse as government spending accelerates. "We previously projected that adverse fiscal dynamics would increase the deficit to around 6.3% of GDP by 2029, but the coronavirus pandemic introduces significant downside risk to our medium-term fiscal outlook," Moody's analyst Gabriel Agostini said in a report. "On the revenue front, a coronavirus-induced slowdown will remove workers from payrolls and weaken federal tax revenue intake. Combined with large sums of federal spending to support the economy, we expect the US fiscal deficit to rise to levels not seen since the 2008 global financial crisis, driving debt higher," he added.
watch now
Agostini noted that low borrowing costs will help alleviate some of the burden. The Fed a week ago slashed its benchmark interest rate to near-zero, and Treasury yields have been in historically low territory. But the fiscal balance sheet still will look worse than it has since World War II. During the financial crisis, the budget deficit as a share of GDP hit a high of 9.8%. Prior to that, the only worse period came during the war when the level hit 26.9% in 1943. A $2 trillion deficit, which seems conservative given the current scenario, would push deficit to GDP to 9.4%. A $3 trillion shortfall, which seems like not much of a stretch, would take the level to 14%.
Hopes for growth
Of course, the numbers are all fungible, and Mnuchin told Fox News that he expects short-term damage to the economy followed by "gigantic" growth in the fourth quarter of 2020. The administration's efforts, though, are more geared to what's happening now. "As fiscal policy loosens, the deficit does increase quite substantially in the near term," said Jeremy Lawson, chief economist at Aberdeen Standard Investments. "If the government isn't filling that gap in that period where the private sector is retrenching, it effectively doubles the size of the economic shock that is taking place." In fact, Lawson said monetary and fiscal authorities probably will have to step up their efforts. He particularly said the Fed needs to get more aggressive because while "it might feel like they're throwing the kitchen sink at this, at the moment you might say they're only throwing the tap." So as the shock of trillion-dollar deficits will now give way to the shock of multitrillion dollar deficits, there is little else for authorities to do except keep pumping. "By using your balance sheet during the bad times, what you can actually do is help the long-term health of the budget by assuring there is an economy that can return when the private sector is able to start spending again. Then the fiscal authority can unwind that stimulus, the temporary parts of it," Lawson said. "Yes, it looks like it's blowing a hole in the budget, but that's probably necessary from keeping a bigger one from being blown open later on."


cnbc--2020-03-22--Kudlow says coronavirus relief package worth more than $2 trillion

Larry Kudlow , director of the U.S. National Economic Council , speaks during a news conference in the briefing room of the White House in Washington , D.C. , on Friday , Jan. 17 , 2020 .
The stimulus package under negotiation in the Senate to combat the economic damage from the coronavirus pandemic will likely total more than $ 2 trillion , White House Economic Advisor Larry Kudlow said on Saturday .
The package is equal to about 10 % of U.S. economic output , Kudlow told reporters as he went to a meeting with Republican senators on Capitol @ @ @ @ @ @ @ at roughly twice the size of the package the administration requested only several days ago .
`` We 're just trying to cover the right bases , '' Kudlow said .
He also said that small businesses would receive a payroll-tax holiday , though it 's unclear whether that 's been agreed upon or is an item on the agenda .
The Senate has been under immense pressure to finish a relief plan with the House and administration as quickly as possible .
Lawmakers this weekend are pushing to meet the Trump administration @ @ @ @ @ @ @ agreement .
The proposed $ 2 trillion package is the third coronavirus relief package .
President Trump this week signed a $ 100 billion aid package that includes provisions for emergency paid leave for workers and free testing .
That came after he signed a $ 8.3 billion package earlier in the month to provide federal aid to government health officials and vaccine research and development .
Unemployment claims next week could total three million , Bank of America said this week , as some workers get laid off without severance , paid @ @ @ @ @ @ @ also facing equipment and staff shortages amid the crisis .
The Trump administration is under pressure over the shortage of important medical supplies .
President Trump at a Saturday press briefing said he has n't used the Defense Production Act , which would order private sector manufacturing of supplies like masks and ventilators , because the administration has seen some corporations volunteering help .
Asked about the potential $ 2 trillion price tag for the latest relief package , the president said : `` I 've spoken directly or indirectly to everybody many @ @ @ @ @ @ @ Democrats and the Republicans are going to come up with a package that 's going to be really something . ''
Across the U.S. , millions of Americans are being told to isolate themselves as coronavirus cases in the country pass 19,000 , killing at least 260 people so far .
Forty-five states have shut down all schools , and bars and restaurants have also closed in many areas as governments ban group gatherings .
California and New York , among the largest economies in the U.S. , have shut down all nonessential @ @ @ @ @ @ @ the spread of the virus .
Similar drastic measures have been taken or are planning to be taken in New Jersey , Illinois and Connecticut .

Larry Kudlow, director of the U.S. National Economic Council, speaks during a news conference in the briefing room of the White House in Washington, D.C., on Friday, Jan. 17, 2020.
The stimulus package under negotiation in the Senate to combat the economic damage from the coronavirus pandemic will likely total more than $2 trillion, White House Economic Advisor Larry Kudlow said on Saturday.
The package is equal to about 10% of U.S. economic output, Kudlow told reporters as he went to a meeting with Republican senators on Capitol Hill. It's a major escalation at roughly twice the size of the package the administration requested only several days ago.
"We're just trying to cover the right bases," Kudlow said. He also said that small businesses would receive a payroll-tax holiday, though it's unclear whether that's been agreed upon or is an item on the agenda.
The Senate has been under immense pressure to finish a relief plan with the House and administration as quickly as possible. Lawmakers this weekend are pushing to meet the Trump administration's Monday deadline of coming to an agreement.
The proposed $2 trillion package is the third coronavirus relief package. President Trump this week signed a $100 billion aid package that includes provisions for emergency paid leave for workers and free testing. That came after he signed a $8.3 billion package earlier in the month to provide federal aid to government health officials and vaccine research and development.
Unemployment claims next week could total three million, Bank of America said this week, as some workers get laid off without severance, paid leave or health insurance. Hospitals are also facing equipment and staff shortages amid the crisis.
The Trump administration is under pressure over the shortage of important medical supplies. President Trump at a Saturday press briefing said he hasn't used the Defense Production Act, which would order private sector manufacturing of supplies like masks and ventilators, because the administration has seen some corporations volunteering help.
Asked about the potential $2 trillion price tag for the latest relief package, the president said: "I've spoken directly or indirectly to everybody many, many times...I think the Democrats and the Republicans are going to come up with a package that's going to be really something."
Across the U.S., millions of Americans are being told to isolate themselves as coronavirus cases in the country pass 19,000, killing at least 260 people so far. Forty-five states have shut down all schools, and bars and restaurants have also closed in many areas as governments ban group gatherings.
California and New York, among the largest economies in the U.S., have shut down all nonessential businesses indefinitely in an effort to contain the spread of the virus. Similar drastic measures have been taken or are planning to be taken in New Jersey, Illinois and Connecticut.


cnbc--2020-03-20--Trump's Mar-a-Lago resort closes in peak of season as coronavirus spreads in US, report says

President Donald Trump 's Mar-a-Lago estate in Palm Beach is seen from West Palm Beach , Florida , U.S. , as Trump prepared to return to Washington after a weekend at the estate , March 5 , 2017 .
President Donald Trump 's Palm Beach golf resort , Mar-a-Lago , has closed down amid the coronavirus pandemic , a new report said Friday .
The New York Times reported that the southern Florida club , where Trump has spent more than 100 days as president , shuttered its doors as the Trump Organization cuts staff and halts reservations across its @ @ @ @ @ @ @ other properties .
Mar-a-Lago would normally be at the peak of its annual business this time of year , according to the newspaper .
A spokesperson for the Trump Organization told CNBC in a statement : `` Various facilities are temporarily closed given local , state and federal mandates .
We anxiously await the day when this pandemic is over and our world-class facilities can reopen . ''
A receptionist who answered Mar-a-Lago 's phone number declined to comment on the Times ' report .
Trump has used the luxe beachside resort as @ @ @ @ @ @ @ in Washington , D.C. , as well as to conduct presidential business – even referring to the property as the `` Winter White House '' on multiple occasions .
Earlier this month , Trump traveled to Mar-a-Lago to host a delegation of Brazilian officials , including the country 's president , Jair Bolsonaro , and his communications chief , Fabio Wajngarten .
Wajngarten later tested positive for the coronavirus , prompting U.S. officials including White House press secretary Stephanie Grisham to temporarily isolate themselves out of an abundance of caution .
Bolsonaro and @ @ @ @ @ @ @ the coronavirus .
Eric Trump , the president 's son and manager of the family business , told the Times in an interview that the Trump Organization was trying to limit shutdowns .
`` As an organization we are following federal , state and local direction and guidance very carefully , '' Eric Trump told the Times .
The reported cutbacks to the president 's business empire are emblematic of how the COVID-19 virus ' rapid spread across the globe has upended life at every level of society .
Efforts to prevent transmission @ @ @ @ @ @ @ to completely shut down dine-in restaurants , bars and clubs , potentially triggering massive waves of unemployment as businesses lay off their employees .
People have been advised to stay in their homes and avoid close contact with anyone , regardless of whether they exhibit symptoms , as part of `` social distancing '' practices aimed at slowing the spread of the virus .
Major industries are begging for federal assistance , and markets continue to tank as investors worry that treatments for the disease may not come nearly soon enough .
The @ @ @ @ @ @ @ the Chinese city of Wuhan , has infected more than 245,000 people around the world , killing more than 10,000 , data from Johns Hopkins University shows .
In the U.S. , at least 14,250 people have contracted the virus and more than 200 have died , according to Johns Hopkins .
Read the Times ' full report on how the Trump Organization is reacting to the coronavirus crisis .

President Donald Trump's Mar-a-Lago estate in Palm Beach is seen from West Palm Beach, Florida, U.S., as Trump prepared to return to Washington after a weekend at the estate, March 5, 2017.
President Donald Trump's Palm Beach golf resort, Mar-a-Lago, has closed down amid the coronavirus pandemic, a new report said Friday.
The New York Times reported that the southern Florida club, where Trump has spent more than 100 days as president, shuttered its doors as the Trump Organization cuts staff and halts reservations across its portfolio of hotels, golf courses and other properties.
Mar-a-Lago would normally be at the peak of its annual business this time of year, according to the newspaper.
A spokesperson for the Trump Organization told CNBC in a statement: "Various facilities are temporarily closed given local, state and federal mandates. We anxiously await the day when this pandemic is over and our world-class facilities can reopen."
A receptionist who answered Mar-a-Lago's phone number declined to comment on the Times' report.
Trump has used the luxe beachside resort as an escape from the often antagonistic forces in Washington, D.C., as well as to conduct presidential business – even referring to the property as the "Winter White House" on multiple occasions.
Earlier this month, Trump traveled to Mar-a-Lago to host a delegation of Brazilian officials, including the country's president, Jair Bolsonaro, and his communications chief, Fabio Wajngarten.
Wajngarten later tested positive for the coronavirus, prompting U.S. officials including White House press secretary Stephanie Grisham to temporarily isolate themselves out of an abundance of caution. Bolsonaro and Trump both say they tested negative for the coronavirus.
Eric Trump, the president's son and manager of the family business, told the Times in an interview that the Trump Organization was trying to limit shutdowns.
"As an organization we are following federal, state and local direction and guidance very carefully," Eric Trump told the Times.
The reported cutbacks to the president's business empire are emblematic of how the COVID-19 virus' rapid spread across the globe has upended life at every level of society.
Efforts to prevent transmission of the disease have forced state leaders to completely shut down dine-in restaurants, bars and clubs, potentially triggering massive waves of unemployment as businesses lay off their employees.
People have been advised to stay in their homes and avoid close contact with anyone, regardless of whether they exhibit symptoms, as part of "social distancing" practices aimed at slowing the spread of the virus. Major industries are begging for federal assistance, and markets continue to tank as investors worry that treatments for the disease may not come nearly soon enough.
The coronavirus, believed to have originated in the Chinese city of Wuhan, has infected more than 245,000 people around the world, killing more than 10,000, data from Johns Hopkins University shows. In the U.S., at least 14,250 people have contracted the virus and more than 200 have died, according to Johns Hopkins.
Read the Times' full report on how the Trump Organization is reacting to the coronavirus crisis.


cnbc--2020-03-23--Coronavirus stimulus bill fails in key Senate procedural vote

An ambulance sits parked on the plaza outside the U.S. Capitol March 16 , 2020 in Washington , DC .
A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote Sunday evening .
The stalemate came hours after Democratic leaders warned that the bill did too much to bail out companies and not enough to help workers .
Stock futures cratered as the two parties failed to agree on the terms of the package .
`` We 're fiddling with the emotions of the American people , fiddling with @ @ @ @ @ @ @ care , '' he said .
`` Step up , '' he added .
`` Help us reach an agreement so we can do what needs to be done for the American people no later than tomorrow . ''
The final vote tally was 47-47 , well short of the 60 votes needed to advance the bill .
Republicans hold a 53-47 edge in the chamber , although several GOP senators , including Rand Paul , who had tested positive for the coronavirus , were not present to vote .
Others , such @ @ @ @ @ @ @ were in quarantine as a precaution .
President Donald Trump , however , was decidedly optimistic in a coronavirus task force press briefing that was unfolding as senators voted .
`` I think you 'll get there , '' he said .
Senate Republicans last week rolled out a roughly $ 1 trillion proposal after working closely with the administration , in a bid to slow the potentially catastrophic impact of the coronavirus on the economy .
More than 26,000 have tested positive for the illness in the United States , a number @ @ @ @ @ @ @ tests are distributed .
The bill included small business loans , direct payments for individuals and billions in aid for industries like airlines whose businesses have been hit hard by the virus and efforts to stop its spread .
Republicans had hoped to come to a deal with Democrats by Monday .
Hospitals , workers , companies and states have all warned they need more resources .
The airline industry , which is expecting financial relief from the bill , has raised continued alarm that without getting money fast , it could face @ @ @ @ @ @ @ a deal and pass the bill took on added urgency as several members of Congress have tested positive for the coronavirus .
But negotiations that carried through the weekend had hit a sour note by Sunday afternoon .
Democrats had already been frustrated that Senate Republicans drafted a bill with the administration , excluding them from the proposed bill 's original formation .
`` From my standpoint , we 're apart , '' House Speaker Pelosi , D-Calif. , told reporters earlier Sunday .
`` Leader McConnell had to postpone his 3 p.m. @ @ @ @ @ @ @ because , thanks to Leader Chuck Schumer and Senate Democrats , he did not have the 60 votes required , '' Pelosi said in a statement Sunday .
Democrats on Sunday called out a number of issues they had with the bill , including a $ 500 billion fund to support `` severely distressed business . ''
That includes $ 58 billion for passenger and cargo airlines and $ 17 billion for businesses critical to maintaining national security , according to a draft bill obtained by CNBC .
A previous draft bill allocated @ @ @ @ @ @ @ in addition to $ 58 billion for airlines and cargo carriers .
The bill gave considerable authority to the Treasury to implement that fund .
It offered concessions to Democrats like a ban on stock buybacks while a loan is outstanding and maintaining payroll `` to the extent practicable , '' but some worried those stipulations were n't strong enough .
One Democratic aide said that they believed the bill gave Treasury the power to waive the ban on buybacks .
Other protections for workers and aid for hospitals were also not included @ @ @ @ @ @ @ unprecedented national crisis , Republicans ca n't seriously expect us to tell people in our communities who are suffering that we shortchanged hospitals , students , workers , and small businesses but gave big corporations hundreds of billions of dollars in a secretive slush fund , '' said Sen. Patty Murray , D-Wash. , whose home state is one of the hardest-hit by the disease 's outbreak .
Murray is ranking member of the Senate Health , Education , Labor , and Pensions Committee .
The panel is pushing for a number of @ @ @ @ @ @ @ and medical equipment .
It also wants the Department of Labor to create a regulatory standard protecting frontline workers , like nurses , during crises like the coronavirus .
The Democratic-led House Appropriations Committee previously criticized the Republican draft bill for `` lack of supplemental funding for federal , state and local response . ''
Airline companies were also disappointed in the bill , which offered aid primarily in the form of loans and guarantees , rather than the mix of cash grants and loans they have sought .
The bill also left @ @ @ @ @ @ @ in the gains of its loans , including through warrants , stock options or equity .
Trump has he would not be opposed to taking an equity stake in companies to which the government extends aid .
The CEOs of American , Delta , Southwest , United and others on Saturday said the industry would have to furlough workers without $ 29 billion in `` worker payroll protection grants . ''
If they receive that amount in that form , they said they would n't furlough employees through Aug. 31 .
Executives over @ @ @ @ @ @ @ series of grim letters to employees and congressional leadership , saying if the government does n't act fast , it could cost jobs .
Several unions also came out against the bill , urging more specific provisions to protect jobs .
`` The Machinists will not support any relief package that does not put airline workers first , '' said International Association of Machinists and Aerospace Workers ' president , Robert Martinez Jr. in a release .
The union represents some 140,000 airline workers .
`` Unlike the bank bailout , the airline @ @ @ @ @ @ @ ''

A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote Sunday evening.
The stalemate came hours after Democratic leaders warned that the bill did too much to bail out companies and not enough to help workers. Stock futures cratered as the two parties failed to agree on the terms of the package.
Senate Majority Leader Mitch McConnell lambasted the Democrats.
"We're fiddling with the emotions of the American people, fiddling with the markets, fiddling with our health care," he said.
"Step up," he added. "Help us reach an agreement so we can do what needs to be done for the American people no later than tomorrow."
The final vote tally was 47-47, well short of the 60 votes needed to advance the bill. Republicans hold a 53-47 edge in the chamber, although several GOP senators, including Rand Paul, who had tested positive for the coronavirus, were not present to vote. Others, such as Sen. Mitt Romney of Utah, were in quarantine as a precaution.
President Donald Trump was decidedly optimistic in a coronavirus task force press briefing Sunday that was unfolding as senators voted. "I think you'll get there," he said.
Senate Republicans last week rolled out a roughly $1 trillion proposal after working closely with the administration in a bid to slow the potentially catastrophic impact of the coronavirus on the economy. As on Monday, more than 35,000 have tested positive for the illness in the United States, a number that is expected to surge as more tests are distributed. The bill included small business loans, direct payments for individuals and billions in aid for industries like airlines whose businesses have been hit hard by the virus and efforts to stop its spread.
Republicans had hoped to come to a deal with Democrats by Monday. Hospitals, workers, companies and states have all warned they need more resources. The airline industry, which is expecting financial relief from the bill, has raised continued alarm that without getting money fast, it could face dire outcomes.
The pressure to forge a deal and pass the bill took on added urgency as several members of Congress have tested positive for the coronavirus.
But negotiations that carried through the weekend had hit a sour note by Sunday afternoon. Democrats had already been frustrated that Senate Republicans drafted a bill with the administration, excluding them from the proposed bill's original formation.
"From my standpoint, we're apart," House Speaker Nancy Pelosi, D-Calif., told reporters earlier Sunday.
"Leader McConnell had to postpone his 3 p.m. cloture vote on the motion to proceed because, thanks to Leader Chuck Schumer and Senate Democrats, he did not have the 60 votes required," Pelosi said in a statement Sunday.
Democrats on Sunday called out a number of issues they had with the bill, including a $500 billion fund to support "severely distressed business." That includes $58 billion for passenger and cargo airlines and $17 billion for businesses critical to maintaining national security, according to a draft bill obtained by CNBC.
A previous draft bill allocated $150 billion for distressed businesses, in addition to $58 billion for airlines and cargo carriers.
The bill gave considerable authority to the Treasury to implement that fund. It offered concessions to Democrats like a ban on stock buybacks for companies that receive federal aid while a loan is outstanding and maintaining payroll "to the extent practicable," but some worried those stipulations weren't strong enough. One Democratic aide said opponents believe the bill gave Treasury the power to waive the ban on buybacks.
Other protections for workers and aid for hospitals were also not included.
"In the midst of an unprecedented national crisis, Republicans can't seriously expect us to tell people in our communities who are suffering that we shortchanged hospitals, students, workers, and small businesses but gave big corporations hundreds of billions of dollars in a secretive slush fund," said Sen. Patty Murray, D-Wash., whose home state is one of the hardest-hit by the disease.
Murray is ranking member of the Senate Health, Education, Labor, and Pensions Committee. The panel is pushing for a number of additions, including more funding for hospitals and medical equipment. It also wants the Department of Labor to create a regulatory standard protecting front-line workers, like nurses, during health crises.
The Democratic-led House Appropriations Committee previously criticized the Republican draft bill for "lack of supplemental funding for federal, state and local response."
Airline companies were also disappointed in the bill, which offered aid primarily in the form of loans and guarantees, rather than the mix of cash grants and loans they have sought.
The bill also left open the possibility of the government participating in the gains of its loans, including through warrants, stock options or equity. Trump has he would not be opposed to taking an equity stake in companies to which the government extends aid.
The CEOs of American , Delta , Southwest , United and other airlines said Saturday the industry would have to furlough workers without $29 billion in "worker payroll protection grants." If they receive that amount in that form, they said, they wouldn't furlough employees through Aug. 31.
Executives over the last week have sent out a series of grim letters to employees and congressional leadership, saying if the government doesn't act fast, it could cost jobs.
Several unions also came out against the bill, urging more specific provisions to protect jobs.
"The Machinists will not support any relief package that does not put airline workers first," said Machinists union President Robert Martinez Jr. The union represents some 140,000 airline workers. "Unlike the bank bailout, the airline industry did not create this crisis."


cnbc--2020-03-22--Trump activates National Guard in California, New York and Washington state: 'This is a war'

Members of the Maryland Army National Guard arrive at Adventist HealthCare White Oak Medical Center to set up a triage tent in the parking lot outside of the emergency room on March 19 , 2020 in Silver Spring , Maryland .
Hospitals across the country are preparing for an influx of additional patients due to the COVID-19 pandemic .
President Donald Trump on Sunday announced that he has activated the National Guard in California , New York and Washington state in order to combat the spread of the coronavirus .
The administration emphasized that the deployment of guard members is @ @ @ @ @ @ @ will retain command of the National Guard , but the Federal Emergency Management Agency will cover all costs of the missions to respond to the virus outbreak .
`` We 're dealing also with other states .
These states have been hit the hardest , '' the president said during a White House press briefing .
Trump used martial language during the briefing , echoing the governor of New York state and the mayor of New York City , who have criticized the president for not acting more forcefully .
New York has @ @ @ @ @ @ @ the United States .
`` I 'm a wartime president , '' Trump said .
`` This is a war — a different kind of war than we 've ever had . ''
As of Sunday morning , at least 7,300 National Guard members have been deployed to fight the virus in all 50 states , Washington D.C. and Puerto Rico .
`` The federal government has deployed hundreds of tons of supplies from our national stocks pile to locations with the greatest need in order to assist in those areas , '' @ @ @ @ @ @ @ hospital beds , N95 masks and gowns that will be delivered in the next couple days , the president said .
California , New York and Washington state have been the most affected states amid the pandemic , which has escalated significantly in U.S. over the past week .
New York has more than 15,000 confirmed cases , up more than 4,000 since Saturday , followed by Washington state at roughly 1,700 and California at about 1,500 .
Earlier in the month , New York Governor Andrew Cuomo deployed the National Guard to @ @ @ @ @ @ @ New York City that has a large cluster of virus cases .
Cuomo has urged the federal government to mobilize the military to fight the pandemic .
The number of global cases surged past 300,000 on Sunday , with over 13,000 deaths across the world , according to data from Johns Hopkins University .


cnbc--2020-03-23--Cisco commits $225 million in fight against coronavirus as Silicon Valley initiates investment blitz

A technology giant is committing $ 225 million to assist in efforts aimed at combating the coronavirus while the rest of Silicon Valley initiates an investment blitz to help in the fight .
Cisco , which focuses on crafting telecommunications equipment and networking hardware , is putting up the massive investment , CEO Chuck Robbins said in a blog post Sunday night .
The $ 225 million is `` in cash , in-kind , and planned-giving to support both the global and local response to COVID-19 , '' Robbins said .
`` As part of our commitment , we are @ @ @ @ @ @ @ $ 210 million in product to the global coronavirus response .
We are focusing these resources on supporting healthcare and education , government response and critical technology , '' he said .
`` Part of this will go to the United Nations Foundation 's COVID-19 Solidarity Response Fund , supporting the World Health Organization 's ( WHO ) worldwide efforts to help prevent , detect , and manage the spread of COVID-19 . ''
The effort comes as Silicon Valley starts to invest into a variety of groups looking to fight the coronavirus @ @ @ @ @ @ @ Silicon Valley business leaders to discuss ways they can use their money and vast resources to help fend off the coronavirus .
CEOs and executives from Facebook , Apple , the San Francisco 49ers , Twitter , Netflix , Alphabet and Salesforce were invited to take part .
Since then , Facebook has announced it will offer $ 100 million in cash grants and ad credits for up to 30,000 eligible small businesses .
The social media giant is also giving $ 1,000 bonuses to each of their employees as they work remotely @ @ @ @ @ @ @ that they were in need , very nervous , and not able to pay a lot of their employees , and worried their doors would shut , '' Facebook Chief Operating Officer Sheryl Sandberg told CNBC last week .
`` We 're trying to help businesses pay their employees but also shift their businesses online . ''

A technology giant is committing $225 million to assist in efforts aimed at combating the coronavirus while the rest of Silicon Valley initiates an investment blitz to help in the fight.
Cisco , which focuses on crafting telecommunications equipment and networking hardware, is putting up the massive investment, CEO Chuck Robbins said in a blog post Sunday night.
The $225 million is "in cash, in-kind, and planned-giving to support both the global and local response to COVID-19," Robbins said.
"As part of our commitment, we are allocating $8 million in cash and $210 million in product to the global coronavirus response. We are focusing these resources on supporting healthcare and education, government response and critical technology," he said. "Part of this will go to the United Nations Foundation's COVID-19 Solidarity Response Fund, supporting the World Health Organization's (WHO) worldwide efforts to help prevent, detect, and manage the spread of COVID-19."
The effort comes as Silicon Valley starts to invest into a variety of groups looking to fight the coronavirus.
Robbins recently hosted a call with Silicon Valley business leaders to discuss ways they can use their money and vast resources to help fend off the coronavirus.
CEOs and executives from Facebook , Apple , the San Francisco 49ers, Twitter , Netflix , Alphabet and Salesforce were invited to take part.
Since then, Facebook has announced it will offer $100 million in cash grants and ad credits for up to 30,000 eligible small businesses. The social media giant is also giving $1,000 bonuses to each of their employees as they work remotely.
"We heard directly from them that they were in need, very nervous, and not able to pay a lot of their employees, and worried their doors would shut," Facebook Chief Operating Officer Sheryl Sandberg told CNBC last week. "We're trying to help businesses pay their employees but also shift their businesses online."


cnbc--2020-03-23--SEC warns on coronavirus insider trading after stock sales by NYSE chair, his wife Sen. Loeffler, 3

SEC warns on coronavirus insider trading after stock sales by NYSE chair, his wife Sen. Loeffler, 3 other senators

US Senator Kelly Loeffler ( L ) , R-GA , and husband Jeffrey Sprecher , CEO of Intercontinental Exchange and Chairman of the New York Stock Exchange , on January 6 , 2019 .
The Securities and Exchange Commission on Monday issued a sharp warning against trading on nonpublic information related to the coronavirus — a caution that came days after news of recent stock sales by the CEO of the owner of the New York Stock Exchange and his senator wife sparked widespread criticism and calls for investigations .
The statement from the SEC 's co-directors of enforcement about @ @ @ @ @ @ @ to those trades by NYSE Chairman Jeff Sprecher and Sen. Kelly Loeffler , R-Ga. Those trades , involving sales of up to $ 3 million worth of securities , came in the weeks before stock market indexes dramatically fell in value due to the coronavirus pandemic , and on the heels of a private , all-senators briefing on the virus outbreak from Trump administration officials that Loeffler attended on Jan. 24 .
In addition to Loeffler 's move , recently disclosed stock sales by three other senators , Richard Burr ( R-NC ) @ @ @ @ @ @ @ Diane Feinstein ( D-CA ) have come under scrutiny because they occurred after the coronavirus briefing .
Loeffler said last Friday that the trades were made by third-party financial advisors , without input or the knowledge by either her or Sprecher , who is CEO of the Big Board 's holding company , Intercontinental Exchange .
Loeffler is , by far , the richest member of Congress , sharing a net worth of about $ 500 million .
The SEC directors in their statement noted that , `` The 2019 coronavirus disease ( @ @ @ @ @ @ @ in unprecedented ways . ''
`` In these dynamic circumstances , corporate insiders are regularly learning new material nonpublic information that may hold an even greater value than under normal circumstances , '' the directors , Stephanie Avakian and Steven Pelkin said .
`` This may particularly be the case if earnings reports or required SEC disclosure filings are delayed due to COVID-19 , '' the directors said .
The statement said that `` given these unique circumstances , a greater number of people may have access to material nonpublic information than in @ @ @ @ @ @ @ with such access – including , for example , directors , officers , employees , and consultants and other outside professionals – should be mindful of their obligations to keep this information confidential and to comply with the prohibitions on illegal securities trading , '' the directors wrote .
`` Trading in a company 's securities on the basis of inside information may violate the antifraud provisions of the federal securities laws . ''
The SEC declined to comment when asked if the new statement was spurred by last week 's news about @ @ @ @ @ @ @ and whether the SEC is investigating those trades .
Neither Sprecher nor Loeffler has been accused of wrongdoing by the SEC or any other regulatory or law enforcement agency .
Financial disclosure forms filed recently by Loeffler reveals that accounts owned by the couple had almost 30 trades in stocks since Jan. 24 , the day that she and other senators were briefed about the coronavirus by Trump administration officials .
The sales began on the day of that briefing .
Over the next three weeks , Loeffler and Sprecher sold shares worth @ @ @ @ @ @ @ , according to disclosure records .
But on Feb. 14 , accounts owned by Loeffler and Sprecher bought stock in Citrix , which provides teleworking software , and in Oracle , the technology company .
Many Americans have been working remotely from home as companies closed or reduced staff at their physical offices due to the COVID-19 crisis .
Intercontinental Exchange , which owns other exchanges and clearing houses in addition to the NYSE , said in a statement last week that all of the transactions involving the couple were `` in compliance @ @ @ @ @ @ @ Sprecher and Senator Loeffler have made clear that those transactions were executed by their financial advisors without Mr. Sprecher 's or Senator Loeffler 's input or direction , '' the company said .
`` Such transactions are in compliance with Intercontinental Exchange , Inc. policies and procedures . ''
Loeffler , in an interview with CNBC 's `` The Exchange '' last Friday , said `` I am very confident that we have followed the letter and spirit of the law . ''

US Senator Kelly Loeffler (L), R-GA, and husband Jeffrey Sprecher, CEO of Intercontinental Exchange and Chairman of the New York Stock Exchange, on January 6, 2019.
The Securities and Exchange Commission on Monday issued a sharp warning against trading on nonpublic information related to the coronavirus — a caution that came days after news of recent stock sales by the CEO of the owner of the New York Stock Exchange and his senator wife sparked widespread criticism and calls for investigations.
The statement from the SEC's co-directors of enforcement about "market integrity" did not refer to those trades by NYSE Chairman Jeff Sprecher and Sen. Kelly Loeffler, R-Ga., or trades by three other senators in the past two months.
Sprecher and Loeffler's trades, involving sales of up to $3 million worth of securities, came in the weeks before stock market indexes dramatically fell in value due to the coronavirus pandemic, and on the heels of a private, all-senators briefing on the virus outbreak from Trump administration health officials that Loeffler attended on Jan. 24.
In addition to Loeffler's move, recently disclosed stock sales by three other senators, Richard Burr (R-NC), James Inhoffe (R-OK) and Diane Feinstein (D-CA) have come under scrutiny and criticism because they occurred after that coronavirus briefing.
Loeffler said last Friday that the trades detailed in Senate disclosure forms were made by third-party financial advisors, without input or the knowledge by either her or Sprecher, who is CEO of the Big Board's holding company, Intercontinental Exchange .
Over the weekend, CBS News, citing public SEC filings, reported that in addition to those trades, Sprecher on Feb. 26 sold $3.5 million in shares of of his company, Intercontinental Exchange , or ICE, at an average price of $93.42 each. ICE shares have since dropped almost 25%.
Other SEC filings cited by CBS show that Sprecher and Loeffler "also sold $15.3 million worth of ICE shares on March 11, at an average price of around $87 per share."
Loeffler is, by far, the richest member of Congress, sharing a net worth of about $500 million.
The SEC directors in their statement noted that, "The 2019 coronavirus disease (COVID-19) has impacted the securities markets in unprecedented ways."
"In these dynamic circumstances, corporate insiders are regularly learning new material nonpublic information that may hold an even greater value than under normal circumstances," the directors, Stephanie Avakian and Steven Pelkin said.
"This may particularly be the case if earnings reports or required SEC disclosure filings are delayed due to COVID-19," the directors said.
The statement said that "given these unique circumstances, a greater number of people may have access to material nonpublic information than in less challenging times."
"Those with such access – including, for example, directors, officers, employees, and consultants and other outside professionals – should be mindful of their obligations to keep this information confidential and to comply with the prohibitions on illegal securities trading," the directors wrote.
"Trading in a company's securities on the basis of inside information may violate the antifraud provisions of the federal securities laws."
The SEC declined to comment when asked if the new statement was spurred by last week's news about recent trading by Sprecher and Loeffler, and whether the SEC is investigating those trades.
Neither Sprecher nor Loeffler, nor the three other senators have been accused of wrongdoing by the SEC or any other regulatory or law enforcement agency.
Financial disclosure forms filed recently by Loeffler reveals that accounts owned by the couple had almost 30 trades in stocks since Jan. 24, the day that she and other senators were briefed about the coronavirus by Trump administration officials. The sales began on the day of that briefing.
Over the next three weeks, Loeffler and Sprecher sold shares worth $1.25 million to $3.1 million, according to disclosure records.
But on Feb. 14, accounts owned by Loeffler and Sprecher bought stock in Citrix , which provides teleworking software, and in Oracle , the technology company.
Many Americans have been working remotely from home as companies closed or reduced staff at their physical offices due to the COVID-19 crisis.
Intercontinental Exchange, which owns other exchanges and clearing houses in addition to the NYSE, said in a statement last week that all of the transactions involving the couple were "in compliance" with company policies.
"Mr. Sprecher and Senator Loeffler have made clear that those transactions were executed by their financial advisors without Mr. Sprecher's or Senator Loeffler's input or direction," the company said.
"Such transactions are in compliance with Intercontinental Exchange, Inc. policies and procedures."
Loeffler, in an interview with CNBC's "The Exchange" last Friday, said "I am very confident that we have followed the letter and spirit of the law."


cnbc--2020-03-23--Number of coronavirus cases within Defense Department doubles over the weekend

WASHINGTON — The number of active-duty U.S. service members who have tested positive for the coronavirus nearly doubled over the @ @ @ @ @ on Friday to 133 cases on Monday , according to the latest figures provided by @ @ @ @ @ , the Pentagon reported a total of 243 known cases of coronavirus within the Department @ @ @ @ @ 243 cases , 133 are active-duty military , 44 are civilians , 35 dependents and @ @ @ @ @ weekend , the DOD confirmed that a contractor , who worked at the Defense Security @ @ @ @ @ Saturday after testing positive for the coronavirus .
This is the first reported death from @ @ @ @ @ of Defense .
The virus has infected more than 367,400 worldwide , though many have @ @ @ @ @ more than 41,500 cases have been reported so far .

WASHINGTON — The number of active-duty U.S. service members who have tested positive for the coronavirus nearly doubled over the weekend from 67 confirmed cases on Friday to 133 cases on Monday, according to the latest figures provided by the Pentagon.
On Monday, the Pentagon reported a total of 243 known cases of coronavirus within the Department of Defense. Of the 243 cases, 133 are active-duty military, 44 are civilians, 35 dependents and 31 contractors.
Over the weekend, the DOD confirmed that a contractor, who worked at the Defense Security Cooperation Agency, died on Saturday after testing positive for the coronavirus. This is the first reported death from the virus within the Department of Defense.
The virus has infected more than 367,400 worldwide, though many have recovered. In the U.S. more than 41,500 cases have been reported so far.


cnbc--2020-03-23--Coronavirus stimulus bill blocked again in Senate as talks continue

McConnell threw aside his usually placid appearance as he tore into Senate Democrats for the second straight day on Monday , accusing them of filibustering a deal the country needs immediately .
Stocks cut their losses on Schumer 's optimistic words .
The Dow Jones industrial average at one point traded more than 900 points lower , giving away all of its gains since Trump 's election .
Markets , however , turned lower again after the bill failed to clear the procedural hurdle .
`` We 're very close to reaching a deal .
Very close .
And our @ @ @ @ @ @ @ , '' he said .
`` And we 're hopeful , even confident that we will meet that goal . ''
Schumer , nonetheless , said the two parties had come to certain agreements about revisions to the Republicans ' bill , including adding more unemployment protections and adding more money to hospitals .
He said the Democrats are `` fighting hard and making progress '' on more funding for state and local governments .
Senate Democrats have criticized the $ 500 billion fund that the Republican proposal sets aside for distressed businesses @ @ @ @ @ @ @ with no strings attached . ''
Democrats are also seeking enhanced unemployment measures and protections for workers .
GOP lawmakers slammed Democrats for seeking climate provisions within the measure , as well .
House Speaker Nancy Pelosi floated her own proposal for a stimulus bill Monday .
The measure , however , again failed a key procedural vote in the Senate on Monday afternoon , after Senate Minority Leader Chuck Schumer warned a deal would not pass until Republicans agreed to key changes .
He said that negotiations would continue even while the @ @ @ @ @ @ @ and Republicans on Monday continued negotiations over a massive stimulus funding package that failed to get enough votes in a key Senate procedural tally Sunday evening .
Even talks to hash out a voting schedule turned combative .
As Schumer objected to efforts by Sen. Susan Collins , R-Maine , to speak , she retorted , `` This is unbelievable . ''
When the second cloture vote failed to pass , as Schumer had warned , McConnell again accused Democrats of adding to their wish list , rather than focusing on getting a @ @ @ @ @ @ @ and Congress are eager to halt the crushing economic impact of the coronavirus and the uncertainty it has caused investors .
The Federal Reserve said Monday it will launch a barrage of programs to help the markets , including an open-ended asset purchase program and moving into corporate bonds for the first time .
Treasury Secretary Steven Mnuchin told CNBC on Monday that Congress is `` very close '' to a stimulus agreement and must get it done `` today . ''
President Donald Trump , in a series of tweets Sunday night @ @ @ @ @ @ @ continuing stay-at-home guidelines for more than 15 days − and an urge to return to normalcy .
`` WE CAN NOT LET THE CURE BE WORSE THAN THE PROBLEM ITSELF , '' the president wrote .
The final Sunday night Senate vote on whether to advance the legislation was 47-47 , well short of the 60 votes needed , after Democrats laid out a number of objections to the Republican proposal .
Those issues included what Democrats said was a lack of protection for workers and sufficient funding for hospitals .
They took @ @ @ @ @ @ @ to support `` severely distressed business , '' arguing it allowed too much control to the Treasury .
Mnuchin said the Federal Reserve can leverage that fund to offer more than $ 4 trillion in support to U.S. businesses .
The fund allocates $ 58 billion for passenger and cargo airlines and $ 17 billion for businesses critical to maintaining national security .
It leaves the rest open to businesses , states and municipalities .
Companies from hotels to restaurants to manufacturers have argued the coronavirus has pummeled their business , and they @ @ @ @ @ @ @ .
The proposed bill gave considerable authority to the Treasury to implement the fund , including discerning which parties receive money .
It did offer concessions to Democrats like a ban on stock buybacks for companies that receive federal aid while a loan is outstanding , and maintaining payroll `` to the extent practicable . ''
Some Democrats , though , worried those stipulations were n't strong enough .
One Democratic aide said opponents believe the bill gave Treasury the power to waive the ban on buybacks .
There was also a belief @ @ @ @ @ @ @ more than $ 425,000 for the next two years was too weak .
`` Maybe the majority leader thinks it 's unfair to ask for protections for workers and labors from companies that getting hundreds of billions of dollars , we think it 's very fair to ask for those , '' said Schumer on the Senate floor .
Schumer also said the terms and of those recipients of those loans would not be public for six months .
One potential solution to what Democrats say is a lack of fund oversight could @ @ @ @ @ @ @ , one of the sources said .
A Democratic aide said he could not confirm whether the party is pushing to add an inspector general , but noted the party is `` fighting for transparency and accountability and restrictions on it . ''
Republican Sen. James Lankford , though , said the Democrats ' asks went too far , resting on the belief that `` if a corporation gets a loan from the federal government , then someone here in D.C. should be able to determine how that company is run . ''
@ @ @ @ @ @ @ the board or having a role in deciding whether layoffs are appropriate , he said .
Lankford also said Democrats were advocating that any company taking out a federal loan raise their minimum wage to $ 15 , and agree to no stock buybacks for a decade .
Meantime , airlines also expressed discontent over the proposal .
The industry has sought relief in the form of cash grants and loans , but the $ 500 billion fund only offered loans and guarantees .
The language proposed by Republicans leaves open the structure @ @ @ @ @ @ @ Director Larry Kudlow said Monday he `` personally likes '' the `` taxpayer taking a piece of equity '' in government loans .
Still , there may be other ways the government could help bridge the divide , like offering airlines zero-interest loans , or loan forgiveness if they fulfill certain obligations , such as maintaining payroll .
This is a developing story .
Check back for updates .

Democrats and Republicans continue to negotiate terms on a massive stimulus package, two Senate aides told CNBC. The measure again failed a key procedural vote in the Senate on Monday afternoon, as there were major differences between the two parties over what to include in the final legislation.
The delay could make it difficult for Trump to sign a bill this week. Senate rules mandate that a cloture vote has to "ripen" for one full day before it the Senate can vote, unless the currently quarreling Senate unanimously decides to hold a vote sooner. Three-fifths of the Senate must vote for cloture in order to end debate and move the bill along.
The measure has a price tag of well over $1 trillion and is intended to limit the economic pain from the coronavirus outbreak. The effort has taken on urgency as hospitals, workers, people, and companies have all pleaded they need cash quickly to cope with the crushing economic impact of the coronavirus.
Treasury Secretary Steven Mnuchin told CNBC that Monday "we need to get this deal done today." But the talks have been marred by partisan disagreement. The bill previously failed to clear a procedural hurdle in the Senate on Sunday and again Monday afternoon.
Senate Democrats have criticized the $500 billion fund that the Republican proposal sets aside for distressed businesses, calling it a bailout fund "with no strings attached." Democrats are also seeking enhanced unemployment measures and protections for workers. GOP lawmakers slammed Democrats for seeking climate provisions within the measure, as well. House Speaker Nancy Pelosi floated her own proposal for a stimulus bill Monday.
Senate Minority Leader Chuck Schumer nonetheless was optimistic earlier Monday, seeing he believed the two parties could come to an agreement by the end of the day.
"We're very close to reaching a deal. Very close. And our goal is to reach a deal today," he said. "And we're hopeful, even confident that we will meet that goal."
He said two parties had come to certain agreements about revisions to the Republicans' bill, including adding more unemployment protections and adding more money to hospitals. He said the Democrats are "fighting hard and making progress" on more funding for state and local governments.
Stocks cut their losses on Schumer's optimistic words. But the Dow Jones industrial average ultimately closed 3% lower, at one point giving away all of its gains since President Donald Trump's election.
After the second procedural vote failed, McConnell threw aside his usually placid appearance as he tore into Senate Democrats for the second straight day on Monday, accusing them of filibustering a deal the country needs immediately. He accused Democrats of adding to their wish list, rather than focusing on getting out a deal quickly.


cnbc--2020-03-23--Rhode Island is the latest state to postpone its 2020 primary as coronavirus outbreak spreads

Rhode Island will move its 2020 primary to June 2 from the originally planned April 28 in response to the deadly coronavirus outbreak , Gov .
Gina Raimondo announced Monday .
Last week , the Rhode Island Board of Elections voted to postpone the state 's primary from April 28 to June 2 , according to the board 's deputy director of elections , Miguel Nunez .
But the decision was `` pending the governor signing an emergency order , '' Nunez said .
`` I am following the advice of the Board of Elections , and will sign an @ @ @ @ @ @ @ Raimondo said in a tweet on Monday .
Rhode Island has 26 delegates up for grabs .
Sen. Bernie Sanders won the state in 2016 when he ran against former Secretary of State Hillary Clinton .
The state is the latest to postpone its primary because of health threats brought on by the coronavirus , which has roiled markets and infected hundreds of thousands of people globally .
Several state and local officials have begun enforcing `` social distancing , '' keeping people at least six feet apart to avoid transmitting the virus @ @ @ @ @ @ @ Voting in person in proximity to other people could spread the virus .
Here are the states that have postponed their primaries : • Ohio ( rescheduled to June 2 , pending approval from the courts ) The outbreak has upended the 2020 Democratic presidential primary as Sanders and former Vice President Joe Biden compete to take on President Donald Trump in November .
The current candidates have stopped holding in-person campaign events .
Sanders , who has fallen behind Biden in the race for pledged delegates , is now mulling his prospects @ @ @ @ @ @ @ race or forge ahead .
The Democratic National Committee has so far said it will move forward with its convention in July despite the disruptions .
The coronavirus , which is believed to have originated in Wuhan , China , has spread to dozens of countries , with more than 367,400 confirmed cases worldwide and at least 16,100 deaths so far , according to data from Johns Hopkins University .
There are at least 41,500 cases in the United States and at least 499 deaths , according to the latest tallies .

Rhode Island will move its 2020 primary to June 2 from the originally planned April 28 in response to the deadly coronavirus outbreak, Gov. Gina Raimondo announced Monday.
Last week, the Rhode Island Board of Elections voted to postpone the state's primary from April 28 to June 2, according to the board's deputy director of elections, Miguel Nunez. But the decision was "pending the governor signing an emergency order," Nunez said.
"I am following the advice of the Board of Elections, and will sign an executive order to do this," Raimondo said in a tweet on Monday.
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Rhode Island has 26 delegates up for grabs. Sen. Bernie Sanders won the state in 2016 when he ran against former Secretary of State Hillary Clinton.
The state is the latest to postpone its primary because of health threats brought on by the coronavirus, which has roiled markets and infected hundreds of thousands of people globally. Several state and local officials have begun enforcing "social distancing," keeping people at least six feet apart to avoid transmitting the virus, as deemed by health experts. Voting in person in proximity to other people could spread the virus.
Here are the states that have postponed their primaries:
Georgia (rescheduled to May 19)
Connecticut (rescheduled to June 2)
Indiana (rescheduled to June 2)
Ohio (rescheduled to June 2, pending approval from the courts)
Rhode Island (rescheduled to June 2)
Louisiana (rescheduled to June 20)
Kentucky (rescheduled to June 23)
The outbreak has upended the 2020 Democratic presidential primary as Sanders and former Vice President Joe Biden compete to take on President Donald Trump in November.
The current candidates have stopped holding in-person campaign events. Sanders, who has fallen behind Biden in the race for pledged delegates, is now mulling his prospects as he considers whether to leave the race or forge ahead.
The Democratic National Committee has so far said it will move forward with its convention in July despite the disruptions.
The coronavirus, which is believed to have originated in Wuhan, China, has spread to dozens of countries, with more than 367,400 confirmed cases worldwide and at least 16,100 deaths so far, according to data from Johns Hopkins University. There are at least 41,500 cases in the United States and at least 499 deaths, according to the latest tallies.


cnbc--2020-03-23--Coronavirus impact: Satellite images show world cities before and after outbreak

This is what it looks like when the world pauses because of the coronavirus pandemic .
Before-and-after satellite images starkly @ @ @ @ @ have changed across the planet as the coronavirus outbreak spread .
Images provided by commercial @ @ @ @ @ empty parking lots , beaches , bridges , waterways , and popular tourist and religious @ @ @ @ @ Last week , thousands of people crowded the beaches of Miami on a sunny day @ @ @ @ @ .
Videos showing college spring breakers partying on Florida beaches drew widespread criticism as concern @ @ @ @ @ and as cities around the nation urged residents to engage in social distancing to avoid @ @ @ @

This is what it looks like when the world pauses because of the coronavirus pandemic.
Before-and-after satellite images starkly show just how much things have changed across the planet as the coronavirus outbreak spread.
Images provided by commercial satellite company Planet Labs reveal empty parking lots, beaches, bridges, waterways, and popular tourist and religious destinations in recent days.
Last week, thousands of people crowded the beaches of Miami on a sunny day, relaxing on the sands.
Videos showing college spring breakers partying on Florida beaches drew widespread criticism as concern grew over the coronavirus, and as cities around the nation urged residents to engage in social distancing to avoid spreading the disease.
Miami, before:


cnbc--2020-03-23--Joe Biden pushes Trump for worker protections in coronavirus bailout

Joe Biden on Monday urged President Donald Trump to make workers a priority in the efforts to limit the economic fallout from the coronavirus pandemic .
The former vice president 's address was livestreamed over YouTube , part of his campaign 's attempt to restructure its strategy away from in-person events as the disease spreads .
Biden , in an attempt to draw a contrast with Trump 's more combative style , spoke about the impact the pandemic is having on people across the country .
He called on Trump to focus on helping workers get a paycheck while businesses @ @ @ @ @ @ @ and small businesses , we should be focused on them , '' said Biden , who often touts his blue-collar roots .
He also offered warnings about the hazards of bailing out corporations without commensurate worker protections .
`` If corporations take money from taxpayers they have to make an enforceable commitment that they will keep workers on the payroll , '' Biden said .
Biden 's remarks , which came as lawmakers were trying to strike a deal on a massive stimulus bill , were not without some hiccups .
As the @ @ @ @ @ @ @ scenes told Biden `` mics are hot , '' with the former vice president then asking if he was cleared to start talking .
About seven minutes into his discussion , there was a shuffling of papers , and as Biden tried to describe what he hoped to see from the administration 's response , he made a signal to the cameraman .
The Democratic front-runner 's YouTube live feed had over 5,000 views as of 11:45 a.m .
ET on Monday .
Biden has been prodded by his allies to start speaking @ @ @ @ @ @ @ dominate the national platform .
Polls have shown that voters are approving of how the president is handling the federal government 's response to the coronavirus .
`` What I 'm concerned about is that we see Donald Trump every day with this crisis giving his press report .
And I would just love to see you more , '' a donor told Biden a virtual fundraising call on Sunday .
`` They put in a new high speed line into my home , they 've converted a recreation room , basically , @ @ @ @ @ @ @ said in response .
Although Biden suggested on Monday that this was not the time for politics , he recently released a plan contrasting how he would handle the coronavirus if he were president .
His campaign has also started to publish digital ads , focusing on Trump 's response .
Biden posted on the ads on both his Facebook and Twitter pages , showing a split screen of how Trump has publicly discussed the virus versus the former vice president 's approach .
`` This moment calls for a president .
In @ @ @ @ @ @ @ the ad concludes .

Joe Biden on Monday urged President Donald Trump to make workers a priority in the efforts to limit the economic fallout from the coronavirus pandemic.
The former vice president's address was livestreamed over YouTube, part of his campaign's attempt to restructure its strategy away from in-person events as the disease spreads.
Biden, in an attempt to draw a contrast with Trump's more combative style, spoke about the impact the pandemic is having on people across the country. He called on Trump to focus on helping workers get a paycheck while businesses start to close.
"For workers and small businesses, we should be focused on them," said Biden, who often touts his blue-collar roots. He also offered warnings about the hazards of bailing out corporations without commensurate worker protections.
"If corporations take money from taxpayers they have to make an enforceable commitment that they will keep workers on the payroll," Biden said.
Biden's remarks, which came as lawmakers were trying to strike a deal on a massive stimulus bill, were not without some hiccups. As the camera turned on, someone behind the scenes told Biden "mics are hot," with the former vice president then asking if he was cleared to start talking. About seven minutes into his discussion, there was a shuffling of papers, and as Biden tried to describe what he hoped to see from the administration's response, he made a signal to the cameraman.
The Democratic front-runner's YouTube live feed had over 5,000 views as of 11:45 a.m. ET on Monday.
Biden has been prodded by his allies to start speaking directly to voters as Trump continues to dominate the national platform. Polls have shown that voters are approving of how the president is handling the federal government's response to the coronavirus.
"What I'm concerned about is that we see Donald Trump every day with this crisis giving his press report. And I would just love to see you more," a donor told Biden a virtual fundraising call on Sunday.
"They put in a new high speed line into my home, they've converted a recreation room, basically, into a television studio," Biden said in response.
Although Biden suggested on Monday that this was not the time for politics, he recently released a plan contrasting how he would handle the coronavirus if he were president.
His campaign has also started to publish digital ads, focusing on Trump's response. Biden posted on the ads on both his Facebook and Twitter pages, showing a split screen of how Trump has publicly discussed the virus versus the former vice president's approach. "This moment calls for a president. In November you can elect one," the ad concludes.
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