It’s far too early to be writing off the longest-running economic expansion in history, as some in the media appear to be doing.
Initial claims for unemployment insurance are the lowest seen since 1969, when the U.S. workforce was half the size that it is now. Raising the federal minimum wage, however, would put more people out of work.
The U.S. Treasury announced on Friday that the federal government has spent $1.8 trillion since October 1, while tax receipts were only $1.3 trillion. According to Modern Monetary Theory, this is just fine.
Newark Mayor Ras Baraka announced plans to create a commission to study the concept of a “universal” income plan to help the more than one quarter of the city’s population living in poverty.
Many CEOs are making millions per year, and socialist/progressives such as Alexandria Ocasio-Cortez and Bernie Sanders criticize that fact, despite their sparse, largely failing histories in the business world.
According to some financial experts, New York City is currently facing the worst financial situation since February of 1975 when the city was on the verge of bankruptcy.
N.Y. Governor Cuomo blamed his state’s revenue shortfall of $2.8 billion on Donald Trump during a press conference on Monday.
At the same time that many media organizations have hitched their wagons to a rabid anti-Trump narrative, many of them are struggling to survive.
Oxfam asserts that governments are under-funding public services and failing to clamp down on tax dodging, supposedly increasing the income gap between rich and poor.