He advocated for a broad plan that gradually reduces the deficit as well as reforms the tax code, but repeatedly dodged attempts by members of both parties to weigh in on the ongoing debate. “I’m not going to get into the breakdown of a deal,” he told Rep.Sean Duffy(R...
global equities are threatening their worst week since mid-April, attributed to a growing realization that rate cuts from the Federal Reserve are unlikely anytime soon
Higher total debt means higher spending to fund interest payments. The U.S. government pays about 17% of its revenues to the owners of Treasury bonds. If rates are unchanged, the cost of servicing the federal debt over the next 10 years could grow significantly larger, even with no changes...
Inflationary spiral:The weakened dollar makes imports more expensive, fueling already high inflation rates. The U.S. Federal Reserve raises interest rates aggressively to combat inflation, but this has little effect, even as domestic businesses can't find the dollars to pay for materials and keep ...
Inadequate reimbursements from state and federal agencies, a decline in hospital admissions, an excess of available beds in the area, and the failure to recruit physicians to admit to the hospital were the reasons cited when Norwest General Hospital's management decided to close the hospital in ...
It is also unlikely that the Federal Reserve would step in to support financial markets. The Trump administration’s decision to limit exports of its H20 AI chip, (along with its AMDs M308 and their equivalents), to China, could cost Nvidia up to US$ 5.5 billion in charges, associated ...
Facing the risk of a federal government default as soon as June 1, President Joe Biden has invited the top four congressional leaders to a White House meeting on May 9 for talks. It’s the first concrete step toward negotiations on averting a potential economic catastrophe, but there’s ...
In the bill negotiated between Speaker Kevin McCarthy and President Joe Biden, federal agencies would be subject to a 1% across-the-board cut if Congress does not approve the funding bills by Jan. 1 and instead approves a stop-gap bill known as a continuing resolution. GOP senators were ...
With conservatives consolidating power in the three branches of the U.S. federal government and President-elect Donald Trump appointing acolytes to his Cabinet and administration, the political landscape Trump will preside over in 2025 will increasingly defer to his authority. As a result, any compa...
government view as “poverty” or “poor” (or, at least poor enough to be eligible for federal assistance). Am I living below that income level (assuming zero taxes)? Could I live below that level if I had to?So, what is the federal poverty line? Let’s start there…...