Daily Bread for 5.5.20

Good morning.

Tuesday in Whitewater will see clouds, scattered showers, and a high of fifty-one.  Sunrise is 5:41 AM and sunset 8:01 PM, for 14h 19m 26s of daytime.  The moon is a waxing gibbous with 94.4% of its visible disk illuminated.

Today is the one thousand two hundred seventy-fourth day.

 The Whitewater Common Council meets via audiovisual conferencing at 6:30 PM.

 It’s Cinco de Mayo: Mexican troops led by Ignacio Zaragoza halt a French invasion in the Battle of Puebla.

Recommended for reading in full —

William Booth, Carolyn Y. Johnson, and Carol Morello report The world came together for a virtual vaccine summit. The U.S. was conspicuously absent:

LONDON — World leaders came together in a virtual summit Monday to pledge billions of dollars to quickly develop vaccines and drugs to fight the coronavirus.

Missing from the roster was the Trump administration, which declined to participate but highlighted from Washington what one official called its “whole-of-America” efforts in the United States and its generosity to global health efforts.

The online conference, led by European Commission President Ursula von der Leyen and a half-dozen countries, was set to raise $8.2 billion from governments, philanthropies and the private sector to fund research and mass-produce drugs, vaccines and testing kits to combat the virus, which has killed more than 250,000 people worldwide.

A senior Trump administration official said Monday the United States “welcomes” the efforts of the conference participants. He did not explain why the United States did not join them.

 Danielle Moran reports Red States Will Need Coronavirus Bailouts Too:

On April 27, President Trump took to Twitter to escalate the spat over the next coronavirus stimulus, questioning whether the federal government should rescue “poorly run” states led by Democrats. His tweet echoed the comments of Senate Majority Leader Mitch McConnell, who suggested during a radio interview that states with large pension obligations under union contracts could pursue bankruptcy instead of federal aid. The Kentucky Republican’s office gave his comments a twist in a press release with a section titled “On Stopping Blue State Bailouts.”

It’s true that many of the states that are ground zero for the Covid-19 pandemic—New York and New Jersey, as well as California and Illinois—are solidly Democratic. But the fiscal challenges that states now face aren’t limited to the blue ones and go well beyond pension obligations. States across the country are reeling from a brutal double whammy of lost revenue: With 30 million people thrown out of work in the past several weeks, income tax collections are tanking, and sales taxes have evaporated after stores and restaurants shuttered. Most states receive a majority of their revenue from those two sources.

Moody’s Analytics projects a fiscal shock to states of $158 billion to $203 billion through the end of the fiscal year ending in June 2021, resulting in almost half of states having to fill a budget gap of at least 10%. (Their ability to weather the impact will depend in part on the amount in their reserves.) Under Moody’s most severe scenario, Louisiana, North Dakota, and West Virginia—all red states—are projected to lose more than 39% of their revenue. Another Republican stronghold, Alaska, is poised to see the largest loss, potentially as much as 79.6% of its general fund. That’s because the state gets much of its revenue from the oil and gas industry, and prices have crashed.

I.C.U. Doctor Brings Music, and Hope, to Coronavirus Patients:

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