No sign of progress as U.S.-China trade talks wrap up
Trade talks between the U.S. and China failed to produce any visible sign of progress, reducing the prospects of a deal soon, people closely tracking the talks said.
deficit
Feds Collect Record Individual Income Taxes Through July; Still Run $683.9B Deficit
The federal government collected a record $1,415,150,000,000 in individual income taxes through the first ten months of fiscal 2018 (October 2017 through July 2018), according to the Monthly Treasury Statement.
Feds Collect Record Individual Income Taxes Through June; Still Run $607B Deficit
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.
$152,237,500,000: Merchandise Trade Deficit With China Hit Record Through May
The U.S. merchandise trade deficit with China set a record through May, hitting $152,237,500,000 for the first five months of 2018, according to data released Friday by the Census Bureau.
CBO: US Debt Burden Set to Break Record in Early 2030s
Debt as a share of the United States economy is on track to blow through the previous World War II-era record within two decades and keep rising from there, the Congressional Budget Office said in its annual long-term budget report.
Feds Collect Record Individual Income Taxes Through May; Still Run $532.2B Deficit
The federal government collected a record $1,143,141,000,000 in individual income taxes through the first eight months of fiscal 2018 (Oct. 1, 2017 through the end of May), according to the Monthly Treasury Statement released today.
Trump calls for G-7 countries to drop all tariffs, subsidies
President Trump proposed a major shakeup of the world’s economic order during a summit in Canada this week, suggesting the world’s big economies drop all tariffs and market-distorting subsidies and go to a fully free system of trade.
$119,050,900,000: Merchandise Trade Deficit With China Hit Record Through April
The U.S. merchandise trade deficit with China set a record through April, hitting $119,050,900,000 for the first four months of 2018, according to data released today by the Census Bureau.
Trump slams trade critics: ‘U.S. has been ripped off for years’
President Trump on Saturday blasted critics who accused him of starting a trade war, saying the U.S. has been losing the trade war for years.
White House underestimated new debt in Trump budget by $2.3 trillion: CBO
President Trump’s proposed budget would add $2.3 trillion more to deficits over the next decade than the White House estimated, the Congressional Budget Office said Thursday.
US, China Putting Trade War on Hold After Progress in Talks
The United States and China are pulling back from the brink of a trade war after the world’s two biggest economies reported progress in talks aimed at bringing down America’s massive trade deficit with Beijing.
Palestinian UN aid still $200 million short after Trump cuts
Emergency food aid for around a million Palestinians in Gaza may run out from June if the UN agency for Palestinian refugees cannot raise another $200 million following a cut-off in US funding, the agency said on Tuesday.
Trillion-dollar deficits come roaring back under Trump
Republicans’ tax cuts and the new spending bill Congress approved last month will send the economy surging this year to 3.3 percent growth — but will also send the deficit soaring back to the record levels of the early Obama years, the Congressional Budget Office said Monday.
Nancy Pelosi says Democrats will work with Republicans on new tax law after they win House
House Minority Leader Nancy Pelosi said Wednesday that Democrats will work with Republicans to rework the GOP tax overhaul after taking back the majority next year.
Trump to announce trade sanctions against China for intellectual property theft
On Thursday, US President Donald Trump is set to announce new sanctions against China for stealing US intellectual property, according to a White House official.
Feds Run $215 Billion Deficit in February
The federal government ran a deficit of $215,248,000,000 in the month of February, while taking in $155,623,000,000 in taxes and spending $370,871,000,000, according to the Monthly Treasury Statement.
Trump’s budget will propose cutting $3 trillion, set goal of reducing the debt rather than balancing the budget
President Trump’s second budget will cut $3 trillion in spending over the next 10 years, White House officials indicated Sunday night, but won’t be balanced.
Trump budget plan to seek funds for border wall, infrastructure, opioid treatment
President Donald Trump will unveil his second budget on Monday – seeking to make good on his promise to bolster military spending and requesting funds for infrastructure, construction of a wall along the border with Mexico and opioid treatment programs.
Trump calls for $1.5 trillion infrastructure plan in State of the Union
President Trump asked Congress on Tuesday to pass an infrastructure package that would ultimately be worth $1.5 trillion, increasing the amount of investment in infrastructure over what he requested of lawmakers the last time he appeared before a joint session of Congress.
Feds Collect Record Taxes Through November; Still Run $201.8B Deficit
The federal government collected record total tax revenues of $443,715,000,000 in the first two months of fiscal 2018 (Oct. 1, 2017 through the end of November), according to the Monthly Treasury Statement.