Once again, economic forecasters are embarrassed. The economy is not enjoying a temporary “sugar high” from Trump’s tax reform, but is just beginning to feel its impact.
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.
Two measures of the U.S. economy were reported on Wednesday, both of which exceeded forecasters’ expectations.
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.
Thanks to fracking and an increase in pipeline capacity, United States will surpass Saudi Arabia later this year in exports of oil and other petroleum products.
A single new job in the economy has a multiplier or ripple effect. Multiplied by hundreds, thousands, and millions, it's no wonder the U.S. economy is the envy of the world.
According to the Commerce Department, the U.S. economy grew by 2.9 percent last year. According to some experts, the true economic growth is likely twice that.
Former Fed chair Janet Yellen seized an opportunity to declare that Trump’s criticism of the central bank might damage its reputation and disrupt its mission.