The U.S. Department of the Treasury said on Monday that it expects to borrow $1.2 trillion over the first half of the year, broken down by $932 billion in the first quarter and $278 billion in the second quarter, the agency said. In the last three months of 2022, the Treasury borrowed $373 billion and ended the…
Biden Admin Plans to Borrow Another $1.2 Trillion Amid Debt Ceiling Standoff
January 31, 2023
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US and Global Economy to Grow Slower in 2023, Possibility of Recession in Some Nations: UN
January 26, 2023
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The global economy is predicted to register a slower growth this year, continuing the trend from last year, with the United States also poised to mark a smaller pace of growth and several countries likely to see a “mild recession,” according to the United Nations. Global economic growth in 2023 is projected to be 1.9…
US Business Activity Declines for Seventh Month in a Row as Recession Looms
January 25, 2023
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Business activity in the United States contracted for the seventh consecutive month in January, with both manufacturing and service sectors remaining in the red for the month, suggesting a downturn in economic activity. The S&P Flash U.S. PMI Composite Output Index for January came in at 46.6, up from 45 at the end of 2022,…
7 GOP Governors Say Firearms Industry Going Great Guns in Generating Good Jobs
LAS VEGAS—Banks engaging in “woke capitalism” to withhold financial services to firearms manufactures will not be tolerated in their states, seven Republican governors said during a Jan. 18 forum. “I’m not going to let some banks or processing companies discriminate in our state,” Oklahoma Gov. Kevin Stitt told the forum at the Shooting Hunting Outdoor…
US Household Wealth Sees Second-Fastest Decline Since 1959
December 12, 2022
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Household wealth in the United States fell by its second-fastest pace in history, but was buoyed by a positive performance in real estate, according to a latest report by the U.S. Federal Reserve. “The net worth of households and nonprofit organizations declined $0.4 trillion to $143.3 trillion in the third quarter. The value of stocks…
Inflation Outpacing US Wages Creating Worst Pay Drop in 25 Years
Residents in the United States have less to celebrate on payday as inflation-adjusted wages endure the harshest pay cut in a quarter century, according to the Federal Reserve Bank of Dallas. The bank’s report revealed the median decline in real wages was a little more than 8.5 percent for most of the U.S. workforce in the…
98 Percent of Voters Say Economy Will Be Important in Their Midterm Vote
October 31, 2022
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With inflation eating into consumers’ wallets and purses, it’s no surprise the economy will be first and foremost on Americans’ minds when casting their 2022 midterm ballots. A Gallup poll released Oct. 31 confirms that the most basic of kitchen-table issues—the cost of groceries and gas — will influence how 98 percent of Americans vote…
Capitol Report (Oct. 17): DeSantis Rises in Polls Despite Martha’s Vineyard Controversy; DOJ Wants Jail Time for Bannon
October 17, 2022
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President Joe Biden is touting his student loan relief plan, which is starting to take applications. But a new poll finds that Republicans gain an edge as voters worry about the economy. Andy Puzder, former CEO of fast food chain Hardee’s and Carl’s Jr., joins us to discuss the impact of the spiraling economy. Early…
Biden Official Says Efforts to Fight Inflation Are ‘Working’ Even As Core Inflation Jumps to 40-Year High
October 14, 2022
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U.S. Commerce Secretary Gina Raimondo is insisting that the Biden administration’s efforts to curb rising prices are working despite the fact that core inflation in the country has jumped to its highest level in four decades. Though inflation is “higher than we would like it to be,” the good news is that housing costs and…
Majority of Americans Actively Taking Steps to Weather a Recession, With Spending Cuts Most Popular Preparation
A large number of U.S. citizens are taking preparatory steps to confront a looming recession and are cutting down on their spending activities, according to a latest Bankrate survey. When questioned as to how prepared they are for a recession before the end of 2023, 42 percent of respondents said they were “somewhat prepared, while…
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