which is higher than the gross domestic product (GDP) of the country itself. The surge in debt can be attributed to an increasing scope of government spending, which currently amounts to $1.1 trillion a year. Policy decisions, such as the size of the U.S. military budget ($842 billion...
which is higher than the gross domestic product (GDP) of the country itself. The surge in debt can be attributed to an increasing scope of government spending, which currently amounts to $1.1 trillion a year. Policy decisions, such as the size of the U.S. military budget ($842 billion...
year levels in 2024 as per the Fiscal Responsibility Act. This act, supposed to ensure financial health, restricts low-income Americans from accessing welfare benefits, particularly the SNAP food stamp program, demonstrating the U.S. government's preference for military expenditure over public welfare...
The U.S. government is facing a shutdown on October 1 as Congress has failed to reach a budget deal. The current fiscal year ends on September 30, and if Congress does not pass a funding bill by then, the government will be forced to close some of its operations. ...
averaging 1.8% per year as deportations hold back population growth. Government spending cuts are fully implemented in the 2026 fiscal year and further subtract from growth. Overall, our modeling shows real GDP growth of 2.4% in 2025 before slowing to 1.7% in 2026. GDP growth then ranges from...
a drama of global proportions unfolds. Republicans and Democrats blame each other for the looming government shutdown; pundits issue stern warnings of a financial meltdown resulting from default; equity markets fluctuate between hope and fear; and the US president cancels important international engageme...
Understand the money implications of a government shutdown. Rachel Hartman, Tracy Stewart and Susannah SniderDec. 17, 2024Retirement 4 Tips for Retirees in a Government Shutdown A looming government shutdown may be scary, but as a retiree you can control your own finances to stay afloat. Erica...
An additional blow to democracy and peace in Europe came when the Swedish government announced that it was ending the peace fund that had provided financial support to peace organizations since the 1920s. It is strange that to strengthen democracy in Europe, the US decided to invest more than ...
Aerospace group cites $2.8bn hit from last year’s strike, lay-offs and rising defence business costs Save US immigration Judge halts Trump’s effort to end US citizenship at birth Judge in Washington state declared the policy ‘blatantly unconstitutional’ and issued temporary order blocking it...
The US government’s fiscal year runs from October through September. In addition to curbing spending, the deal would protect veterans’ health care benefits, temporarily broaden work requirements for certain adults receiving food assistance benefits, claw back some Covid-19 relief funds, cut ...