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.
Following through on President Trump’s promise to squeeze Iran as he took the U.S. out of the 2015 nuclear deal, the Trump administration on Tuesday announced details on new sanctions that will pressure countries from Europe to Asia to slash imports of Iranian oil to zero by Nov. 4, giving allies no wiggle room to deal with Tehran.
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
Turkey is trying desperately to halt a collapse in its currency that could trigger an economic crisis just as the country prepares to vote in an election.
The U.S. decision to drop out of the Iran nuclear agreement could cause the Iranian economy to decline and ultimately collapse, a report from the Congressional Research Service affirms.
Russia relies heavily on foreign military sales to boost its economy. So the Kremlin scrambled to avoid bad publicity for one of its weapons systems last week after it took a direct hit during Israeli airstrikes in Syria.