…with most of Trump’s 2017 tax cuts set to expire at the end of 2025, the GOP plan to extend the law could increase the debt by close to $5 trillion over the next decade. (Nonpartisan scorekeepers project that Trump’s entire campaign platform would add up to $15 trillion to future...
As of May, 2004, Democratic President Bill Clinton's administration was the last to achieve budget surpluses — and at record levels. Since then, Republicans have run large federal budget deficits. For more information, go to Economy_Under_George_W_Bush. ...
WASHINGTON (AP) — The U.S. trade deficit surged to a record $74.4 billion in March as an improving U.S. economy drove purchases of imported foreign goods.
Therefore, according to the equation the budget deficit must be covered by an increase of consumers’ savings in excess of capital investment, otherwise a deficit on the balance of trade will be the result. And if the level of net savings remains unchanged, the budget deficit should approximate...
This was offset by an increase of 18.3% in government revenues to $4 trillion. The revenue gain reflected an improving economy as millions of people who had lost jobs at the start of the pandemic went back to work and corporate profits rebounded after a horrendous 2020. “Under Pres...
The 25/26 budget skips straight to the eight per cent — a reduction of $600 million to provincial revenues in 25/26. According to government estimates, it will reflect a $750 reduction in the tax bill for each Albertan, on average. ...
"The country needs a plan to get our borrowing under control," MacGuineas said, noting that as a starting point, lawmakers should avoid legislative and executive actions that further add to deficits. "More than that, they will need to increase revenues and control spending to make real progr...
Advantages and Disadvantages of a Trade Deficit Pros Imported goods ensure that a country’s people obtain the products they want but can’t get at home. An inflow of foreign capital, invested wisely, can increase productivity and economic growth. ...
In 2009, President Barack Obama increased the deficit to more than $1 trillion to finance the government stimulus programs designed to fight off theGreat Recession.7That was a record dollar number but was only 9.7% of GDP, far under the numbers reached in the 1940s.8 ...
Everyone is forecasting growth for the next few years. Why? Historically we have recessions every ~8 years. We’re going to be due for one, certainly under President Hillary Clinton. Model a recession in and let’s all have a good laugh....