Commentary Even before the recent spate of spending legislation, the authoritative Congressional Budget Office (CBO) warned of the precarious state of Washington’s finances. Its figures show that the relentless growth in entitlements will push up budget deficits and add to the nation’s already heavy accumulation of public debt. By 2032, the CBO concluded, outstanding government…
Biden Says the ‘Pandemic Is Over’—but No End to the Spending
Commentary If the pandemic is over, the spending should stop. During a “60 Minutes” interview on Sept. 18, President Joe Biden said that the “pandemic is over.” Yet back in mid-July, he extended the COVID-19 public health emergency, along with its spending, until the middle of October, at which point the Department of Health and…
Inflation Costing Average American Family $11,500 This Year
Americans are set to fork out an extra $11,500 this year if they want to enjoy the same standard of living they maintained in 2020, according to new estimates from NerdWallet. The estimates, published in August, were based on inflation and annual spending data from the U.S. Bureau of Labor Statistics (BLS). Analysts at NerdWallet looked at how spending would compare…
Inflation May Cost Average US Family Extra $11,500 This Year
Americans are set to pay an extra $11,500 this year if they want to enjoy the same standard of living they maintained in 2020, according to new estimates from NerdWallet. The estimates, published in August, were based on inflation and annual spending data from the U.S. Bureau of Labor Statistics (BLS). Analysts at the personal finance company looked at how…
Eurozone Second Quarter Growth Revised Up, Supported by Household Spending
September 7, 2022
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Business & Marketseconomic policieseconomyenergyEuropeeurozoneGold and CommoditiesgrowthinflationMarketsrecessionspendingWorld
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BRUSSELS—Eurozone economic growth was stronger than previously estimated in the second quarter, data showed on Wednesday, as household spending recovered after half of year of stagnation despite the squeeze on disposable income from spiraling inflation. The European Union’s statistics office Eurostat said gross domestic product in the 19 countries using the euro rose by 0.8…
Japan Plans to Develop Longer-Range Missiles to Counter China, Russia
TOKYO—Japan will develop and mass produce a cruise missile and a high-velocity ballistic missile, it said on Wednesday, as it seeks the ability to strike more distant targets as part of a military expansion aimed at meeting threats from China and Russia. The procurement plan unveiled in the Ministry of Defense’s annual budget request represents…
Silver Economic Power: Seniors and Disposable Income
August 31, 2022
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Baby BoomersBrightbudgetingBusiness & MarketsFuture PlanningLifestylemillennialspersonal financeretirementseniorsSocial IssuesspendingUSUS Features
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More than 34 percent of the U.S. population is over 50, and the over-65 demographic will increase 65 percent by 2030; seniors are living longer and spending more. Many retirees can expect to live 10 years longer than their parents. And these aren’t frail retirees. These seniors tend to work later and play harder. From going…
Democrat Spending Spree Nears $3.5 Trillion with Inflation Reduction Act
August 8, 2022
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Business & Marketsdeficiteconomic policieseconomyinflationInflation Reduction ActPolicies & ImpactsspendingUSUS News
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The passage of the Inflation Reduction Act over the weekend brings the total amount of spending in the pipeline by congressional Democrats to around $3.5 trillion since President Joe Biden took office, with the imposing tally coming as Americans struggle with an inflationary cost-of-living crisis. Senators passed the sweeping bill (pdf), estimated at $740 billion,…
Democrat Spending Nears $3.5 Trillion with Inflation Reduction Act
August 8, 2022
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Business & Marketsdeficiteconomic policieseconomyinflationInflation Reduction ActPolicies & ImpactsspendingUSUS News
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The passage of the Inflation Reduction Act over the weekend brings the total amount of spending in the pipeline by congressional Democrats to around $3.5 trillion since President Joe Biden took office, with the imposing tally coming as Americans struggle with an inflationary cost-of-living crisis. Senators passed the sweeping bill (pdf), estimated at $740 billion,…
US Economy Added 528K Jobs in July; Key Sen. Sinema Agrees to $430B Spending Bill | NTD Business
A stronger-than-expected jobs report for July has been released. Businesses continue to hire, but what about recession fears? Senate Democrats secure a much-needed vote to pass a huge tax and spending bill. What’s the potential impact to investors if it’s passed? Facebook parent company Meta releases its first bond offering. Is it a good investment? Credit…
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