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He noted that the federal government has nearly $36 trillion in total debt, a byproduct of the annual borrowing needed to cover the gap between tax revenues and government spending. Except Trump then seemed to indicate that the debt was a byproduct of the trade deficit with China ...
As winter draws near, preparing for potential travel-related challenges becomes essential. Whether embarking on a holiday road trip or commuting to work, having a well-stocked emergency kit in your vehicle… Tax season is here, and for many, that means a refund is on the way! With the risi...
This paper has shown that inflation surprises help to reduce deficits temporarily and debt ratios persistently. Deficit-to-GDP ratios decline as the nominal values of the economy’s output and of tax bases generally rise, generating more revenues. …an unexpected bout of inflation will erode part...
The document adds that, "America will no longer be beholden to foreign organizations for our national tax policy," an apparent reference to efforts supported by former President Joe Biden to establish a global minimum tax in cooperation with other industrialized ...