A week before Trump begins his second term, U.S. stock and bond markets are rebelling. But against what? I’ll explain below. Stocks initially rose after Trump won the 2024 election, but all three major indexes (the Dow Industrial Average, Standard and Poor’s 500, and NASDAQ) are now belo[...]
Posts Tagged ‘deficit’
Deficit math
The U.S. national debt is $36 trillion as of 2024. Biden and Trump each added $8 trillion of that. The Congressional Budget Office (CBO) projects deficits of $20 trillion over the next 10 years. On top of that, Trump wants to cut taxes by $4 to $6 trillion over that period. Republicans talk about of[...]
China Calls for New Money
Aug 6 (Reuters) – China on Saturday condemned the “short-sighted” political wrangling in the United States over its debt problems and said the world needed a new global stable reserve currency. “China, the largest creditor of the world’s sole superpower, has every right[...]
July 26th, 2011 - 9:14 am § in Misc.
Who Pays For The Tea Party’s Excesses?
Republican posturing over the debt ceiling is increasing our national debt Patrick Sharma, postdoctoral fellow, The Bancroft Library | 7/20/11 | , Berkeley Blog One of the most important yet least acknowledged aspects of the debt ceiling drama currently gripping Washington is the fact that Republica[...]
Paul Krugman: Washington has Written Off the Unemployed
More than three years after we entered the worst economic slump since the 1930s, Washington has lost interest in the unemployed. One-sixth of America’s workers — all those who can’t find any job or are stuck with part-time work when they want a full-time job — have, in effect, been abandoned[...]