US budget deficit on track to hit $1 trillion for first time since 2012
The US budget deficit swelled at the beginning of 2020 even as the economy continued to grow at a steady pace.
US News
Efforts Under Way in US Senate to Limit Trump’s Iran War Powers
U.S. lawmakers are poised to revive the debate over ground rules for a potential conflict with Iran, more than five weeks after President Donald Trump ordered the airstrike that killed Iranian general Qassem Suleimani.
Household Debt Hits Record High of $14.1 Trillion
U.S. household debt set a new record in the final quarter of 2019, the Federal Reserve Bank of New York said in a report (pdf) on Tuesday, climbing to a historic peak of $14.1 trillion.
President’s budget plan aims to cut deficit by $4.6 trillion in 10 years, balance budget in 15
President Donald Trump’s $4.8 trillion budget proposal presented to Congress today boosts funds for the military and veterans and implements mandatory reforms for all agencies in an attempt to cut the deficit by $4.6 trillion over the next decade.
Barr announces sweeping new sanctions, ‘significant escalation’ against left-wing sanctuary cities
Charging that so-called ‘sanctuary’ cities that protect illegal immigrants are jeopardizing domestic security, Attorney General Bill Barr announced a slew of additional sanctions that he called a ‘significant escalation’ against left-wing local and state governments that obstruct the ‘lawful functioning of our nation’s immigration system.’
Trump budget would cut $4.4T in spending, boosting defense while slashing safety nets, foreign aid
The White House on Sunday unveiled a $4.8 trillion budget proposal that would slash spending dramatically on foreign aid and social safety nets, while including $2 billion for a southern border wall and substantially boosting funding to NASA, the Department of Veterans Affairs and the Department of Homeland Security.
Trump proposes 21% cut in U.S. foreign aid in budget proposal – officials
President Donald Trump will propose cutting billions of dollars in U.S. foreign aid in his fiscal 2021 budget while seeking an increase in funds to counter developing economic threats from China and Russia, senior administration officials told Reuters.
Buttigieg declared Iowa winner after technical glitches delay result
Pete Buttigieg narrowly won Iowa’s Democratic presidential caucuses on Thursday after a long delay in releasing the results, reshaping the 2020 race and raising doubts about the future of one-time front-runner Joe Biden, who finished a disappointing fourth.
New jobless claims fall by 15,000 close to a 50-year low
Initial jobless claims declined by 15,000 to 202,000 in the week ending Feb. 1, the U.S. Department of Labor announced Thursday.
Trump Administration Ramps Up Fight Against Human Trafficking
Experts, a former victim, and some anti-trafficking groups said they are encouraged by the administration’s executive order aimed at eliminating human trafficking, describing it as a ‘historical collaboration’ between federal agencies, and one of the ‘more comprehensive’ actions taken by the White House to date.
Trump acquitted in Republican Senate, ending impeachment
US President Donald Trump was acquitted of both charges leveled against him by the House of Representatives Wednesday, concluding the third impeachment trial in US history.
Trump takes on ‘radical left’ in defiant State of the Union address; Pelosi rips up speech
President Trump went on the offensive against socialism and left-wing policies during a defiant third State of the Union address to Congress Tuesday night — drawing groans from Democrats in attendance and prompting a furious House Speaker Nancy Pelosi, D-Calif., to rip up her copy of Trump’s speech as soon as it concluded in a remarkable scene.
Trump State of Union Speech Will Occur Just Ahead of Senate Impeachment Vote
U.S. President Donald Trump on Tuesday evening is to make his annual State of the Union speech, accepting an invitation from the House of Representatives that recently impeached him.
Senate rejects witnesses, sets final impeachment acquittal vote for Wednesday
Senators defeated a last-ditch effort by Democrats to call witnesses in the impeachment trial of President Trump Friday evening, then approved a final schedule that will force a vote Wednesday on Mr. Trump’s fate.
US, at least 17 countries to launch first-ever International Religious Freedom Alliance
Government officials from the United States and several countries will convene in Washington, D.C., next week on the eve of the National Prayer Breakfast for the inaugural meeting of the new International Religious Freedom Alliance.
Congressional Budget Office: Federal debt to grow to 98 percent of GDP by 2030
The latest Congressional Budget Office (CBO) report projects that the federal debt will grow to 98 percent of GDP by 2030, with the economy expanding at an average annual rate of 1.7 percent from 2021 to 2030.
House Democrats announce $760B infrastructure plan
House Democrats on Wednesday unveiled a $760 billion five-year plan aimed at rebuilding U.S. infrastructure.
Fed Keeps Interest Rates Unchanged Amid Concern for Below-Target Inflation
The Federal Reserve’s interest rate-setting body decided Wednesday to keep the benchmark Federal Funds target rate unchanged within the 1.5 to 1.75 percent range.
‘Trust the American people’: Trump lawyers wrap up impeachment defense with plea
President Trump’s lawyers wrapped up their impeachment defense on Tuesday by urging senators to ‘trust the American people’ with elections and to acquit the president, but the trial’s end was still in doubt, with Republicans lacking the votes to stop Democrats from calling witnesses.
US Economy on Path to ‘Solid’ 2020 Growth; Budget Deficits to Top $1 Trillion
The U.S. economy will grow at a ‘solid’ rate of 2.2 percent this year, the non-partisan Congressional Budget Office forecast on Tuesday, but with federal budget deficits hitting $1.015 trillion.