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Keyword: deficit

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  • US Postal Service says mail deliveries will be suspended Wednesday in honor of George H.W. Bush

    12/03/2018 4:53:11 PM PST · by E. Pluribus Unum · 155 replies
    FOX 5 KVVU-TV ^ | 03 DEC 2018
    (Meredith) -- In honor of former President George H.W. Bush's funeral, the U.S. Postal Service says regular mail deliveries will be suspended on Wednesday. The Postal Service will continue some delivery services in preparation for the holiday season. "We will provide limited package delivery service on that day to ensure that our network remains fluid and we do not experience any impacts to our package delivery operations that might negatively affect our customers or business partners during the remainder of our busy holiday season, " the Postal Service said in a statement.
  • If 'community grid' replaces Interstate 81 in Syracuse, what will happen to the land?

    11/21/2018 8:29:54 AM PST · by Tolerance Sucks Rocks · 24 replies
    The Syracuse Post-Standard ^ | November 12, 2018 | Patrick Lohmann
    SYRACUSE, N.Y. -- If a "community grid" is chosen to replace Interstate 81 in downtown Syracuse, what will happen to the land that's now under the aging viaduct's shadow? Whether it will be turned into green space or developed commercially is still an open question, according to city and state officials. A group of local architects is hoping to force the issue. The local chapter of the American Institute of Architects estimated in a recent paper that 18.6 acres of land will be made available if the 1.4-mile elevated highway is taken down. Taking the viaduct down and beefing up...
  • Trump: 'We're going to start paying down debt'

    10/31/2018 2:47:57 PM PDT · by E. Pluribus Unum · 28 replies
    Washington Examiner ^ | October 31, 2018 04:17 PM | Pete Kasperowicz
    President Trump indicated Wednesday the U.S. government would start paying down the $21.6 trillion in debt it's accrued over the last 80 years. "We're going to start paying down debt, we have a lot of debt," Trump said during a Wednesday discussion at the White House on the economy. "We're going to start paying down debt." Trump didn't elaborate, but he made the comment in the context of a discussion about how to improve some of the trade and economic agreements the U.S. has reached over the years. Trump said those past agreements have only helped to let U.S. wealth...
  • U.S. expects to hit $1 trillion deficit earlier than planned

    09/11/2018 1:15:40 PM PDT · by DoodleDawg · 93 replies
    Axios ^ | 9/11/18 | Stef W. Kight
    The U.S. deficit grew by $222 billion from this time last year — reaching a total of $895 billion, according to the nonpartisan Congressional Budget Office. Why it matters: This increase was due mostly to the new Republican tax law and Congress' routine decision to increase spending, which grew by 7% compared to revenue growth of only 1%. The CBO now says the deficit will approach $1 trillion by the end of this fiscal year, but in April the agency didn’t expect the deficit to reach $1 trillion until 2020.
  • Trump cancels scheduled pay raises for most federal employees

    08/30/2018 12:09:00 PM PDT · by Oldeconomybuyer · 63 replies
    NBC "News" ^ | August 30, 2018 | by Adam Edelman
    In a letter to House and Senate leaders, Trump claimed "federal agency budgets cannot sustain such increases." President Donald Trump announced Thursday that he was canceling pay raises for most federal employees that had been set to go into effect in January, citing government budget concerns. In a letter to House and Senate leaders, Trump wrote that he’d decided “across-the-board” pay raises as well as locality pay raises for civilian federal workers in 2019 would be frozen. “I have determined that for 2019, both across‑the‑board pay increases and locality pay increases will be set at zero,” he wrote. “These alternative...
  • Trump's favorite trade measure got worse in the first full month of the trade war

    08/29/2018 2:01:42 AM PDT · by granada · 13 replies
    Business Insider ^ | Aug 28, 2018 | Bob Bryan
    One of President Donald Trump's main goals in his shake-up of US trade policy: Bring down the large US trade deficit. But that deficit appears to be heading in the opposite direction since the trade war kicked off in earnest. The US goods trade deficit increased to $72.2 billion in July, up from $67.9 billion in June, according to advance data from the US Census Bureau. Exports fell by 1.7% from the month before, while imports rose by 0.9%. This was the second straight month the trade deficit has increased. Trump has repeatedly pointed to the large US goods trade...
  • Am I mistaken?

    07/31/2018 5:55:34 AM PDT · by spacewarp · 19 replies
    Self | 07/31/2018 | Paul Rivers
    Just a strange question that's been rumbling around in my mind and I wanted to get some intelligent folks to discuss it, so I came to FreeRepublic, as always. A few weeks ago, President Trump (and no, even as a third party guy, I don't get tired of saying that) enacted tarrifs on China. In an act of sheer desperation, China reportedly devalued their currency by 45%. Currently, we owe China $5.6 trillion. Does this mean that we now owe them $3.36 trillion? Does it mean that we would be able to borrow from the Fed and private sources $3.36...
  • White House readies plan for $12 billion in emergency aid to farmers [shortened]

    07/24/2018 9:04:11 AM PDT · by GIdget2004 · 67 replies
    Washington Post ^ | 07/24/2018 | Damian Paletta and Caitlin Dewey
    The U.S. Agriculture Department on Tuesday plans to announce a $12 billion package of emergency aid for farmers caught in the midst of President Trump’s escalating trade war, two people briefed on the plan said, the latest sign that growing tensions between the United States and other countries will not end soon. Trump ordered Agriculture Secretary Sonny Perdue to prepare a range of options several months ago, amid complaints from farmers that their products faced retaliatory tariffs from China and other countries. The new package of government assistance funds will be announced Tuesday and is expected to go into effect...
  • Sen. Ron Johnson (R-Wis.) tells [media]... Trump..."is a Soviet-type of economy..."

    07/24/2018 12:15:01 PM PDT · by SoFloFreeper · 86 replies
    Twitter ^ | 7/24/18 | Alex Bolton, "journalist" for The sHill
    Sen. Ron Johnson (R-Wis.) tells @burgessev and me outside GOP lunch that $12 billion in trade assistance to farmers from Trump administration "this is becoming more and more like a Soviet-type of economy here" with "commissars" sprinkling around benefits.
  • Trump tapping $12B to help farmers affected by tariffs

    07/24/2018 12:01:08 PM PDT · by Freedom'sWorthIt · 82 replies ^ | July 24, 2018 | KEN THOMAS and PAUL WISEMANl, AP
    WASHINGTON — The government announced a $12 billion plan Tuesday to assist farmers who have been hurt by President Donald Trump's trade disputes with China and other trading partners. The plan focuses on Midwest soybean producers and others targeted by retaliatory measures. The Agriculture Department said the proposal would include direct assistance for farmers, purchases of excess crops and trade promotion activities aimed at building new export markets. Officials said the plan would not require congressional approval and would come through the Commodity Credit Corporation, a wing of the department that addresses agricultural prices. "This is a short-term solution that...
  • Feds Collect Record Individual Income Taxes Through June; Still Run $607B Deficit

    07/13/2018 10:42:22 AM PDT · by Red Badger · 16 replies ^ | July 12, 2018 | 10:48 PM EDT | By Terence P. Jeffrey
    The federal government collected a record $1,305,490,000,000 in individual income taxes through the first nine months of fiscal 2018 (October 2017 through June 2018), according to the Monthly Treasury Statement released today. Despite the record individual income tax collections, the federal government still ran a deficit of $607,099,000,000 over those same nine months, according to the Treasury statement. The approximately $1,305,490,000,000 in individual income taxes that the Treasury collected in October through June of this fiscal year was $71,815,310,000 more (in constant June 2018 dollars) than the $1,233,674,690,000 (in constant June 2018 dollars) in individual income taxes that the Treasury...
  • Chinese hotel bumps up rates for Americans by 25 per cent amid trade war (Shenzhen, China)

    07/13/2018 1:59:55 AM PDT · by cba123 · 63 replies
    Business Times ^ | Fri, Jul 13, 2018 - 3:44 PM
    [BEIJING] A hotel in the Chinese city of Shenzhen plans to charge its US guests an extra 25 per cent amid a trade war between Beijing and Washington, according to the Global Times, a tabloid published by the ruling Communist Party's People's Daily. The Modern Classic Hotel Group had put up a notice at its hotel informing guests of the extra charge on American guests, the paper said in a report dated Thursday. "We put up the notice last Friday. Our boss was really angry about the endless tariffs the US planned to impose on China, so we decided to...
  • As Trade War Persists, Mnuchin Says China Talks Have 'Broken Down'

    07/12/2018 8:44:38 PM PDT · by cba123 · 7 replies
    New York Times ^ | 7/12/2018 | By Alan Rappeport and Jim Tankersley
    WASHINGTON — The trade war between the United States and China showed no signs of yielding on Thursday, as Steven Mnuchin, the Treasury secretary, told lawmakers there was no clear path to resolution and Beijing blasted the administration over its approach. (whaah) Trump is doing great. The first US President, who I dare say that about.
  • China 'shocked' by $200 billion tariffs (Youtube of CNBC clip)

    07/11/2018 5:15:03 PM PDT · by cba123 · 32 replies
    Youtube / CNBC ^ | June 11, 2018 | Eunice Yoon
    This is a video clip. From CNBC. With yet more whining from China, about our great president. :D Donald is turning into a great, great, president. Best ever.
  • U.S. Trade Deficit Hits 19-Month Low Due to Record-High Exports

    07/06/2018 4:08:12 PM PDT · by Jim Robinson · 50 replies
    Breitbart ^ | July 6, 2018 | by Joshua Caplan
    The United States trade deficit dropped in May to the lowest level in 19 months as exports rose to a record level. The Department of Commerce announced the May trade deficit — the difference between what America sells and what it buys in foreign markets — decreased 6.6 percent to $43.1 billion — the smallest imbalance since October 2016. Exports climbed 1.9 percent to a record $215.3 billion. Imports were up a smaller 0.4 percent to $258.4 billion. The Trump administration followed through with imposing tariffs on $34 billion in Chinese products on Friday. China retaliated in kind, starting what...
  • Fact Check: Is the Deficit 'Coming Down Rapidly' as Larry Kudlow Claimed?

    06/30/2018 8:25:26 PM PDT · by SeekAndFind · 13 replies
    Weekly Standard ^ | 06/30 | HOLMES LYBRAND
    On Fox Business Channel Friday morning director of the United States National Economic Council Larry Kudlow claimed that the deficit “is coming down, and it’s coming down rapidly.” He said: "As the economy gears up, more people working, better jobs and careers, those revenues come rolling in. And the deficit—which is one of the other criticisms—is coming down, and it’s coming down rapidly. Growth solves a lot of problems. You’ve heard me say this for a very long time." While job growth continues to show strong numbers and revenues have increased from last year, is it inaccurate to suggest that...
  • A Spending Embarrassment

    06/24/2018 11:46:50 AM PDT · by Tolerance Sucks Rocks · 7 replies
    The Wall Street Journal ^ | June 24, 2018 | WSJ Editorial Board
    Republicans have had a rough week, mostly of their own making, and on Wednesday they added to their self-punishment with a spending fiasco in the Senate. Two GOP Senators blocked the Trump Administration’s rescissions package that would claw back $15 billion, much of which wasn’t even likely to be spent under current policy. A Senate procedural vote to move the rescissions package failed 48-50 after defections from Susan Collins of Maine and Richard Burr of North Carolina. From what we’ve heard Ms. Collins wanted to keep the money on ice so if it isn’t spent as part of its current...
  • China Offers to Buy Nearly $70 Billion of U.S. Products to Fend Off Trade Tariffs

    06/05/2018 9:14:18 PM PDT · by Beave Meister · 35 replies
    The Wall Street Journal ^ | 6/5/2018 | Lingling Wei in Beijing and Bob Davis in Washington
    China offered to purchase nearly $70 billion of U.S. farm, manufacturing and energy products if the Trump administration abandons threatened tariffs, according to people briefed on the latest negotiations with American trade officials. In weekend talks in Beijing, Chinese negotiators led by Liu He, President Xi Jinping’s economic envoy, presented a U.S. team headed by Commerce Secretary Wilbur Ross a package that includes Chinese companies buying more U.S. soybeans, corn, natural gas, crude oil, coal and manufactured goods. Chinese and U.S. officials estimated the value of the package at nearly $70 billion in the first year. President Donald Trump has...
  • Pelosi: ‘When There’s a Democratic President, the Deficit Goes Down’

    05/24/2018 9:16:52 PM PDT · by Olog-hai · 68 replies
    Cybercast News Service ^ | May 24, 2018 | 12:51 PM EDT | Staff
    House Minority Leader Nancy Pelosi said during a “town hall meeting” on CNN on Wednesday night that when there is a Democratic president the federal deficit goes down. “It’s counterintuitive in people’s minds that the Democrats are the deficit reduction folks,” said Pelosi. “But the fact is, you look, when there’s a Democratic president, that the deficit goes down, when the Republicans are in power, they give tax cuts at the high end, all kinds of other things, and the deficit, the debt, the national debt goes up.” The historical data published by the White House Office of Management and...
  • The Trillion-Dollar Myth

    04/17/2018 6:23:52 AM PDT · by Kaslin · 6 replies ^ | April 17, 2018 | Stephen Moore
    There is an old saying that you can't teach an old dog new tricks, and we've learned that again with the Congressional Budget Office and its latest highly misleading fiscal forecast. For years, we've been trying to get the CBO to use real-world scoring that reflects how businesses, workers and financial markets react to changes in tax rates. But no go. This is why the left is having a field day with the CBO's forecast that deficits under President Trump will average a trillion dollars a year for the next decade. This is supposed to be a result of Trump's...