Here are the headlines you Need2Know for Monday, October 19, 2020:

COVID-19: THE NEXT 3 MONTHS

Sunday’s Meet the Press on NBC presented two different narratives about what’s coming as the U.S. heads into winter. Health and Human Services Sec. Alex Azar painted an optimistic picture, telling Americans to “hang in there with us” as effective treatments and vaccines are “weeks away.” The next guest, Dr. Michael Osterholm, a leading infectious disease expert, acknowledged that the medical cavalry was coming, but said: “the next six to 12 weeks are going to be the darkest of the entire pandemic.” NY TIMES

CLOSING ARGUMENTS

With just two more full weeks before Election Day, President Trump and Joe Biden are setting up their closing messages to voters. The president is jetting from rally to rally where he has been delivering a version of a stump speech -- complete with “lock them up” chants -- that many Republicans worry is doing little to bring in the independent voters he needs to close his polling gap with Biden. Meanwhile, the former VP has been hammering a message that he’s the better candidate for the economy -- the one area where Trump still holds an edge. The Biden camp is keeping a low profile this week ahead of Thursday’s final debate. NBC NEWS

FRANCE TERROR ATTACK

People in France took to the streets over the weekend to pay tribute to Samuel Paty, a history teacher who was murdered outside Paris after he reportedly showed his students cartoons of the Prophet Muhammad as part of a lesson. French officials say an 18-year-old Chechen refugee beheaded Paty on Friday near the school where he taught. The attacker was then killed by police. French President Emmanuel Macron has called the murder an “assasination” and an “Islamist terror attack.” EURONEWS

JACINDA WINS IN LANDSLIDE

New Zealand Prime Minister Jacinda Ardern has been reelected in a landslide victory that she is crediting to her administration’s coronavirus response, which has been held up around the world as the gold standard. Over the weekend, New Zealand reported a single new case of community transmission after going three weeks without any new cases. AP

UNITED STATES DEBT

The federal budget deficit skyrocketed to a record $3.1 trillion for the fiscal year that ended on Sept. 30, with debt totaling 102 percent of the country’s GDP. That’s the first time debt has exceeded the size of the economy in at least 70 years. Government spending has soared during the pandemic, and the growing deficit is the main reason Senate Republicans have been skittish about signing on to another stimulus bill. NPR

COMMERCIAL REAL ESTATE CRISIS

The commercial real estate industry is in serious trouble as stores, theaters and hotels struggle to make enough money to pay their rents, and property owners are increasingly unable to meet their mortgage obligations. Brick-and-mortar retailers were already hurting before the pandemic, and with more going out of business every week -- combined with empty hotels, cinemas and malls -- the $15 trillion commercial real-estate market is under enormous pressure to avoid defaults and foreclosures. POLITICO

FALL CLASSIC

The L.A. Dodgers will face the Tampa Bay Rays in the World Series -- a matchup that will feature the two teams with the best records in their leagues. Completing a stunning comeback, the Dodgers won Game 7 against the Braves in dramatic fashion after Cody Bellinger hit a go-ahead solo home run in the seventh inning to break open a tied game. Game 1 of the World Series is tomorrow night in Texas. LA TIMES

LIVE FROM NEW YORK...

Adele is set to host next weekend’s Saturday Night Live, the show announced, with musical guest H.E.R. The singer wrote on Instagram, confirming the news: “...if there was ever a time for any of us to jump head first into the deep end with our eyes closed and hope for the best it’s 2020 right?” VARIETY

SAVE OUR STAGES

The Foo Fighters played an all-acoustic set of their greatest hits at the empty Troubadour nightclub in Hollywood, part of the Save Our Stages virtual festival in support of independent music venues that are at risk of closing for good: WATCH

LEFTOVERS: GOT A ZEPTOSEC?

Scientists say they have measured the shortest unit of time ever: the time it takes a particle of light to cross a hydrogen molecule. That process takes 247 zeptoseconds, give or take. A zeptosecond is a trillionth of a billionth of a second, surpassing the previous measurement of femtoseconds, which are a millionth of a billionth of a second. SCIENCE

Listen to the N2K Podcast! Looking for more context and analysis on the big stories of the day? Check out our podcast! Hosts Jill and Carlo break down the headlines, every weekday morning Listen on Apple or Spotify, or watch on YouTube, and send us your feedback!

Share:
More In Culture
Elizabeth Holmes Fraud Conviction Might Yield Five to Seven Years in Prison
The six-month trial of Theranos founder Elizabeth Holmes has come to an end with the former tech startup star found guilty of four out of 11 counts of fraud. Michael S. Weinstein, Esq, chair of the white collar criminal defense practice at Cole Schotz, and former Department of Justice trial attorney, joined Cheddar News Wrap to discuss what happens next for the former mogul. "Do I think it's going to be more than five or seven years? Probably yes. I think that's probably a fair range at this point," he said about her potential prison sentence.
CES 2022 Begins on Wednesday
We are just one day away from what has been called the most influential tech event in the world. CES 2022 will officially kick off on Wednesday in Las Vegas, but the annual tech summit is being impacted by COVID-19, like so many other recent events. The Consumer Technology Association originally planned for a hybrid event to take place from January 5-8, with some in-person events and some virtual; however, a few big-name companies announced they will not be attending in-person, so the CTA decided to shorten the event by one day, with it now ending on Friday. Consumer electronics senior analyst Will Greenwald joins Cheddar News' Closing Bell to discuss.
California Starts Largest U.S. Food Waste Recycling Program
California's new composting law will affect what residents do in their kitchens. As of this week, Californians will have to recycle excess food in an effort to reduce emissions caused by food waste. Cities and counties will turn recycled food into compost or use it as a renewable energy source. California's new law is the largest mandatory residential food waste recycling program in the country. Rachel Wagoner, Director of the California Department of Resources, Recycling and Recovery called the law 'the biggest change to trash' since recycling started in the 1980s. She joined Cheddar Climate to discuss.
Sweetgreen Launches Salad Subscription Service 'Sweetpass'
Fast-casual restaurant chain Sweetgreen is rolling out its first salad subscription service called sweetpass as it looks to customers tackling new year weight loss and health goals. Members will receive up to 30 percent off of purchases.
Severe Snowstorm Blankets D.C., Mid-Atlantic Region
Washington DC and the surrounding areas saw a record breaking snow storm Monday as a strong storm system works its way across the eastern U.S. The extreme weather event caused extensive damage in the greater Washington area, leaving thousands in the region without power. Jonathan Porter, Chief Meteorologist, AccuWeather, joined Wake Up with Cheddar to discuss the fierce storm.
Over 3,000 Flights Canceled on Monday Over Severe Weather, Crew Shortages
Airlines canceled more than 3,000 flights on Monday over severe weather and crew shortages. The cancellations come on one of the busiest travel days of the holiday season, and is a continuation of the industry-wide disruption that started before Christmas. Thomas Pallini, Aviation Reporter for Insider joined Wake Up with Cheddar to discuss.
End of Child Tax Credit Could Mean Slide Back Into Increasing Child Poverty
Millions of Americans with young children have relied on the child tax credit since the federal government began issuing checks in July 2021. The last round of payments was sent out just before the Christmas holiday — at the same time as the omicron variant surged. Leah Hamilton, associate professor of social work at Appalachian State University, joined Cheddar to discuss what the end to the tax credit means as the U.S. sees the end of many relief programs and its highest number of COVID cases since the start of the pandemic. "It'll become harder for families to meet their basic needs, increasing national childhood poverty rates and the proportion of families who have difficulty putting food on the table, maintaining stable housing, and paying their bills," Hamilton said. She also pointed to research that the credit as a long-term investment in children offsets claims that it contributes to macroeconomic impacts like inflation.
NYT Piece Claims Silicon Valley Investors and Founders Contorted Legal Tax Break to Avoid Taxes on Investment Profits
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
Load More