Tag Archives: so much winning

Bloomberg News reports: The U.S. budget deficit may quadruple this year to almost $4 trillion. Projections from the Committee for a Responsible Federal Budget (CRFB) say that by 2023 U.S. debt held by the public will surpass records set in the post-World War II years. And these projections only include spending enacted so far—in a three-month-old crisis that has seen …

CNN reports: Newly installed panels from the US border wall fell over in high winds Wednesday, landing on trees on the Mexican side of the border. The area is part of an ongoing construction project to improve existing sections of the wall. Agent Carlos Pitones of the Customs and Border Protection sector in El Centro, California, told CNN that the …

NPR reports: President Trump has fired national security adviser John Bolton, the lifelong proponent of American hard power, after months of division between the men over the direction of foreign and national security policy. Trump announced the news on Tuesday in a post on Twitter. Bolton was Trump’s third national security adviser and continued the pattern of departures by advisers …

Axios reports: The U.S. budget deficit has already surpassed last year’s total figure, growing to $866.8 billion in just the first 10 months of the fiscal year, according to Treasury Department data reported by Bloomberg. By the numbers: The deficit is up 27% from the same period last fiscal year, which begins in October. Spending has continued to outpace revenue, …

The New York Times reports: The Trump administration on Thursday unveiled details of a $16 billion aid package to help farmers hurt by President Trump’s trade war with China, as soybean growers from around the country converged on Washington to tell lawmakers that rural America is ready for a cease-fire. The Agriculture Department said that the payments to farmers, which …

The New York Times reports: Growing distrust between the United States and China has slowed the once steady flow of Chinese cash into America, with Chinese investment plummeting by nearly 90 percent since President Trump took office. The falloff, which is being felt broadly across the economy, stems from tougher regulatory scrutiny in the United States and a less hospitable …

Bloomberg Law reports: A federal judge in New York on Tuesday signed an order permanently blocking the Trump administration from adding a citizenship question to the 2020 census, days after President Trump gave up on his efforts to get such a question on next year’s census. New York and immigrant advocacy groups successfully sued to block the question. But even …

CNN reports: Ikea is shutting down its only furniture factory in the United States. The Swedish company will end production this December at its plant in Danville, Virginia. Operations will move to Europe, where the company says it can cut costs. “We made every effort to improve and maintain the competitiveness of this plant, but unfortunately the right cost conditions …

Bloomberg reports: The U.S. trade deficit widened in 2018 to a 10-year high of $621 billion, bucking President Donald Trump’s pledges to reduce it, as tax cuts boosted domestic demand for imports while the strong dollar and retaliatory tariffs weighed on exports. The annual deficit in goods and services increased by $68.8 billion, or 12.5 percent, Commerce Department data showed …

Bloomberg reports: In two separate papers published over the weekend, some of the world’s leading trade economists declared Trump’s tariffs to be the most consequential trade experiment seen since the 1930 Smoot-Hawley tariffs blamed for worsening the Great Depression. They also found the initial cost of Trump’s duties to the U.S. economy was in the billions and being borne largely …

The New York Post reports: The stock market ended a miserable year on a positive note but still closed out 2018 with its worst showing in a decade. After setting a series of records through the late summer and early fall, major US indexes fell sharply after early October, leaving them all in the red for the year on Monday. …

CNN reports: Markets took a wild ride on Monday after Treasury Secretary Steven Mnuchin’s attempts to calm investors backfired. Stocks had recovered late morning, but then fell to their lowest level for the day after President Donald Trump tweeted mid-morning, “The only problem our economy has is the Fed.” Investors are concerned that Trump may fire Federal Reserve Chairman Jerome …

Reuters reports: U.S. President Donald Trump’s Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the “Plunge Protection Team.” U.S. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index .SPX on pace for its …