Posted in Debt, Deficit, Donald Trump, Entitlements, Government Spending | Tagged Debt, Deficit, Donald Trump, Entitlements, Government Spending | 54 Comments Does America Have an Under-Taxation Problem? January 26, 2023 by Dan Mitchell When leftists (or misguided rightists) tell me that Ameri...
In 2020, under President Donald Trump, the deficit reached $3.1 trillion for the entire fiscal year due to a combination of tax cuts and increased spending amid the COVID-19pandemicand subsequent economic fallout.9 In 2024, the federal deficit reached $1.83 trillion in the final full year of...
This isn't quite the picture Donald Trump had in mind. As regular readers mayrecall, in February 2016, the future president appeared on Fox News and assured viewers that, if he were president, he could start paying off the national debt "so easily." The Republican argued at the ti...
This means a country is spending more money on imports than it makes on exports. Under the rules of economic accounting, it must make up for that shortfall. For example, the U.S. can do so by either borrowing money from foreign lenders or permitting foreign investment in U.S. assets. T...
VANCOUVER, Aug. 17 (Xinhua) -- U.S. President Donald Trump's complaints over America's trade deficits with its North American partners shows a failure to understand or accept macroeconomic fundamentals, say trade experts from the University of British Columbia (UBC) Thursday. ...
Here in Central Texas, hundreds of homes and businesses were (and some still are) under water. Our governor is considering whether to ask Uncle Sam for federal disaster relief to help affected folks get back on their feet. If the Lone Star State does ask and get federal disaster relief,....
The CBO previously estimated this year's shortfall would hit $2.3 trillion, but that did not factor in the $1.9 trillion stimulus bill that Democrats single-handedly passed in March. Total relief spending under Biden and former President Donald Trump hit $6 trillion earlier this year, or roughl...
Markets have little to fear even if the U.S. fiscal deficit rises under the policies of Speaker of the House Mike Johnson and President-elect Donald Trump, says Bridgewater.Photo:Andrew Harnik/Getty Images One of the big questions surrounding Trump 2...
Donald Trump attended the Wharton School of the University of Pennsylvania, later becoming a famous real estate mogul and politician. He became an American household name with his hosting of NBC’s The Apprentice and The Trump Organization. Trump spoke of running for president for the 2012 electio...
Wisconsin’s second-oldest prison that was built in the 1800s would finally be shuttered under a new plan from Gov. Tony Evers Associated PressFeb. 16, 2025 Scientists Are Racing to Discover the Depth of Ocean Damage Sparked by the LA Wildfires As crews work to remove po...