Data posted on the Treasury Department’s website indicates that the federal government’s total public debt outstanding increased by $1,054,647,941,626.9 during 2016.
The Japanese hi-tech giant SoftBank announced that it has agreed to invest $1 billion in OneWeb, a satellite manufacturing firm in Florida, creating as many as 3,000 jobs.
Dallas' decision to stop lump-sum withdrawals from a special retirement fund for police and firemen that is billions short in funds just stops the financial bleeding. It does not cure the patient.
"Upside sensitivity" analyses are the new buzz-words, as companies begin to make plans to invest in the U.S. economy.
Trump claims a victory as Ford Motor Company will keep producing Lincoln MKCs in Kentucky instead of moving that operation to Mexico.
“I think of this job as being a relay runner,” President Obama says regarding the transfer of power to the new president. But what he understandably does not say is that he will be handing over to President-elect Trump a basket of economic deplorables.
Though many analysts are predicting a big decline in the stock market, a repeat of Black Monday is highly unlikely. Not impossible, just highly unlikely.
On Friday, the Treasury Department published the final revenue and spending numbers for the federal government for Fiscal Year 2016, which ended on September 30. According to Treasury's report, spending increased significantly (by nearly five percent) over the previous year, to more than $3.8 trillion, while revenues remained essentially flat from the year before, at $3.25 trillion. That left a shortfall of approximately $600 billion, forcing the government to borrow 15 cents of every dollar it spent last year. And the two presidential candidates have remained disturbingly silent about the issue.
The economic growth rate during each of the last eight presidential administrations (beginning with Eisenhower's) was lowest during Obama’s term in office, January 2009 through October 2015, an era of multiple tax hikes and pervasive regulatory expansion.
Wolf Richter of Wolf Street is half right: AVs will displace millions. But he is wrong when he suggests they'll be out of work.