The Republican-controlled House of Representatives oversaw a nearly $8 trillion increase in the national debt.
The Treasury reported total government receipts of $253 billion for the month of October, while total outlays were $353 billion. The U.S. taxpayer is left holding the bag for the difference of $100 billion.
Monday’s selloff in stocks brought the Dow Jones Industrial Average down more than five percent since early October. Is this decline a harbinger of further declines to come?
If Independents tune out the noise and focus on their votes on their pocketbooks on Tuesday, Congress should remain in Republican hands.
No matter how strong the economy and the resulting revenues to the federal government, government spending will continue to outpace them, likely leading to government default by inflation.
The International Monetary Fund fell into the same trap as so many other forecasters have: ignoring both the temporary nature of Trump’s tariff strategy and the incoming wave of repatriated funds that have been languishing overseas for years.
Market watchers will have to wait until Tuesday to see if the mini-panic selloff last week picks up steam.
Amazon’s announcement that it will raise its minimum wage to $15 an hour is a smart political move for its owner, and it will cost the company almost nothing.