recession

Congressman Anthony Gonzalez
TIM RUDELL / WKSU

The stock market’s volatility and growing talk of recession won’t overcome the strength in the current economy. That’s the view of Northeast Ohio’s newest member of Congress—who is, among other things, hoping to be appointed to the House Financial Services Committee. 

Political newcomer Anthony Gonzalez won the 16th District congressional seat vacated by Jim Renacci, who left to run for the Senate. Gonzalez is a Republican who campaigned partly on his background in business. He built and runs his own company and has an MBA from Stanford.

photo of John Kasich, Tim Keen
KAREN KASLER / OHIO PUBLIC RADIO

Gov. John Kasich has warned this will be a difficult budget process but has also touted the progress Ohio has made under tax reforms he wants to continue in his final budget.

Comparing his statements with those from his budget director almost appear to be examples of “alternative facts." Statehouse correspondent Karen Kasler asked for some clarification.

photo of John Kasich
ANDY CHOW / STATEHOUSE NEWS BUREAU

Gov. John Kasich made a surprise appearance on the floor of the Ohio House on Tuesday. He told lawmakers to expect a tough budget because Ohio is on “the verge of a recession." But a report from his budget office doesn’t back up that claim.

photo of Kirk Schuring
OHIO HOUSE OF REPRESENTATIVES

A group of state lawmakers will be studying jobless benefits to come up with ideas for their colleagues to consider when they come back to work after the November election. 

Ohio has paid back the $1.4 billion it borrowed from the federal government during the recession when the fund that paid benefits to jobless workers went broke. But Republican Rep. Kirk Schuring of Stark County says the crisis isn’t over.

“When you’re in a situation like this, it begs the question: What must we do to reform our system?”

Ohio is joining 47 other states in a nearly half-billion-dollar settlement with mortgage lender and servicer HSBC. 

The settlement will pay cash out to nearly 20,000 borrowers who the states say were victims of mortgage-servicing abuses and loan modifications by HSBC. Dan Tierney with the Ohio Attorney General’s office says a $59 million fund has been created with this settlement.

“There will be relief for these borrowers, about 1,574 in Ohio: refinancing, principal reductions, somebody’s lost their home to foreclosure, they will be eligible for cash payments.”