"Just last month the Congressional Budget Office warned Americans that debt held by the public is on its way to a new record share of the economy in three years. The deficit will be nearly $2 trillion this year and nearly $3 trillion in ten years," Maya MacGuineas, president of the no...
"Just last month the Congressional Budget Office warned Americans that debt held by the public is on its way to a new record share of the economy in three years. The deficit will be nearly $2 trillion this year and nearly $3 trillion in ten years," Maya MacGuineas, president of the no...
WASHINGTON (AP) — The U.S. budget deficit surged to a record of $1.9 trillion for the first seven months of this budget year, bloated by the billions of dollars being spent in coronavirus relief packages.
With the deficit as a share of GDP falling in the longer term, we predict the 10-year federal bond rate will fall from 4.44% in 2025 to 3.95% by 2029. Labor markets At the time of writing, labor markets continue to be healthy, with strong jobs growth and low levels of layoffs. The...
WASHINGTON (AP) — The U.S. trade deficit jumped to $68.1 billion in November as a surge in imports overwhelmed a smaller increase in exports.
Protectionist US trade policy in recent years has produced a bigger trade deficit and job losses, weakened the country's productivity and has diminished its diplomatic leadership, trade experts say. "The protectionist policy, just during the (Donald) Trump administration, added over one hundred billi...
US domestic debt ceiling crisis. Biden and House Speaker Kevin McCarthy had planned to meet again on Monday, as the clock ticks toward a possible government default next month. Biden has blamed the Republicans for being unwilling to entertain the idea of closing the federal budget deficit by ...
On a year-ago basis the total trade deficit was up 36%, but it remains far below the record $102 billion deficit in March 2022. A jump in the goods trade deficit more than offset a larger services trade surplus for the month. The goods deficit jumped 15% to $109.0 bi...
The United States is addicted to debt. With its federal deficit persistently above $1 trillion a year, US debt is growing by leaps and bounds, nearing $32 trillion. Ten years ago, when former US president Barack Obama fought with Republicans to raise the debt ceiling, the debt stood at $...