The Federal Spiral Of Debt A Threat To The Economy

Biden would then fly to Pittsburgh for a campaign rally in the afternoon and then on to Philadelphia, where he will hold a rally at the Museum of Art, though the sources stressed that the plans have been shifting in recent days, and could change again. >>READ MORE: Trump, Biden clash as Democrats hope ex-VP can win back working-class voters, maybe White House.

A woman who says Herman Cain engaged in an extra-marital affair with her and denied it is offering to describe “certain parts” of his body to the Senate Banking Committee if he doesn’t withdraw his name from consideration for the Federal Reserve Board. “Do us all a favor and remove yourself from consideration for the Federal Reserve Board,” the Atlanta woman said. “

When President Donald Trump used to talk about illegal immigrants as rapists and murderers, he would always add that some were good people. Bernie Sanders would likewise acknowledge that some were almost OK. Pressure made him do it— the release of his tax forms, and there, merry and bright, was more than $2 million he had made over two years time.

Rhode Island’s commerce secretary has attended a White House conference to learn how the administration aims to make it easier for investors to take advantage of tax breaks for investing in “Opportunity Zones” in low-income areas. President Donald Trump spoke at the conference Wednesday, where proposed regulations were unveiled to clear up confusion over how federal tax rules would be interpreted. Commerce Secretary Stefan Pryor submitted testimony to improve the regulations.

Asian stock markets have declined after Wall Street sank despite encouraging Chinese economic data. Benchmarks in Shanghai, Tokyo and Seoul and retreated. U.S. stocks ended lower after a sell-off of health care companies, erasing the previous day’s gains. That came despite unexpectedly strong Chinese data showing economic growth held steady in the latest quarter and consumer spending accelerated.

When President Donald Trump said last week that the U.S. was “full,” he was reprising one of the dominant themes of his presidency: Immigration is harmful. That’s the message of new research that looks at the lingering effects of the first great wave of newcomers to the U.S. between 1850 and 1920. The economists who conducted the study crafted a rigorous analysis by…

The new Palestinian prime minister has accused the United States of declaring “financial war” on his people and says an American peace plan purported to be in the works will be “born dead.” In his first interview with the international media since taking office over the weekend, Mohammad Shtayyeh laid out plans to get through a financial crisis he has inherited and predicted the international community would join the Palestinians in rejecting President Donald Trump’s expected peace plan.

U.S. industrial production dropped in March, pulled down by a drop in mining output. Factory output remained weak amid a slowing global economy and trade tension with China. The Federal Reserve says industrial output _ combining production at factories, utilities and mines _ slipped 0.1% in March from the previous month.

Presidential candidate Bernie Sanders has released 10 years of his tax returns as part of his 2020 campaign. The returns, released Monday, show an adjusted gross income for Sanders and his wife Jane of $561,293 in 2018. It was $1.131, 925 in 2017 and $1,062,626 the year before when he ran for the Democratic nomination.

The Federal Reserve Bank of Boston issued the following news release:. -Rosengren: It’s a good time to consider possible changes to Fed’s policy framework that could create “policy space”. Boston Fed President Eric Rosengren spoke Monday at Davidson College in North Carolina.

April 15– Congress has proposed legislation to help Americans sock away more money. Wending its way through the House and Senate this month is an epic bill called“ The Setting Every Community Up for Retirement Enhancement” Act of 2019. Also in the bill: Americans can take out money from retirement accounts without a penalty for a birth or adoption, up to $5,000.

Some key labor leaders say they are starting to worry about the topics dominating the 2020 conversation. Union officials in Nevada, Wisconsin and Pennsylvania tell AP they’re concerned the Democrats running for president aren’t talking enough about pocketbook issues. They say debates over the Senate filibuster and breaking up technology companies don’t win over working-class voters.

It was an interesting Thursday for U.S. Sen. Joe Manchin, D- West Virginia, and the decision from Susan Rice, the former U.S. ambassador to the United Nations, are bigger curiosities to a national political audience than a Maine one. He noted that he’d be making fellow Democrats unhappy by saying that about a Republican senator in a nationally targeted race in 2020..

The people who completely missed the housing bubble, the collapse of which sank the economy in 2008 and gave us the Great Recession, are again busy telling us about the next recession on the way. The latest item that they want us to be very worried about is an inversion of the yield curve. Typically, a longer-term interest rate, say the interest rate you would get on a…

April 11– The House of Representatives passed a bill Wednesay that would restore net neutrality rules back to what they were under President Barack Obama. Anthony Brindisi, D- Utica, which directs the Government Accountability Office to issue a report about the ways in which the government can promote the build-out of high-speed broadband infrastructure,…

Democratic presidential candidate Elizabeth Warren is proposing a new tax on corporate profits that’s designed to prevent business giants from taking advantage of the existing tax code to effectively pay a zero rate. The 7% tax on corporate profits above $100 million is the latest in a series of ambitious policy proposals from the Massachusetts senator. It’s in line with her broader push to rein in such industries as the financial sector and technology firms.

Stephen Moore, nominee for governor of the Federal Reserve board and former advisor for Trump’ s 2016 election campaign, began his talk Wednesday by giving three pieces of advice to students: do what you love, question both experts and“ scientific consensus” and read the Wall Street Journal editorial page no matter one’ s political affiliation.

The League of United Latin American Citizens issued the following news release:. The League of United Latin American Citizens, said a federal court decision Tuesday prevents President Trump from expelling refugees seeking asylum from the United States while their case is being decided. “We thank Judge Richard Seeborg of the United States District Court for…

Sean Patrick Maloney, announcing Tuesday that she plans to run for New York’s 18th Congressional District seat in 2020.. Chele Chiavacci Farley is a private-equity executive from Manhattan who recently rented a house in Tuxedo Park and registered as an Orange County voter in February, establishing residency in the 18th District. Farley accused Maloney of…

How much will the stock market rise this year? One of the many contributions of the great 20th- century economist and philosopher F.A. Hayek was his work on the limits of knowledge. An old friend, Steve Moore, a columnist for The Washington Times, has been nominated by the president to serve as one of the Federal Reserve Bank’s governors.

Bernie Sanders, I-Vt., and Sen. Amy Klobuchar, D- Minn., spoke in Las Vegas today before members of the International Association of Machinists and Aeorospace Workers about their platforms for the 2020 election and their support for the nation’s unions. Approximately 800 delegates from the International Association of Machinists, the largest airline and rail…

—Playing migrants for laughs in a speech to lobbyists and donors, President Donald Trump characterized people trying to get into the U.S. as a horde of beefy men who fake hard-luck stories so softies in the immigration system will let them in. His shtick caused plenty of amusement at the Republican Jewish Coalition event Saturday but it was a far cry from the…

April 07– Apr. 7– WASHINGTON– In a revealing moment even for this irrepressible president, Donald Trump last week told donors and Republican members of Congress that “we blew it” on health care, that Democrats “owned” the issue and “we have to take that away from them.” Republicans hope legal appeals linger beyond the 2020 elections, when Trump promised he would make the…

California and 19 other states that are suing President Donald Trump over his emergency declaration to build a border wall have requested a court order to stop money from being diverted to fund the project. California Attorney General Xavier Becerra said Friday that the group took action to prevent $1.6 billion from being siphoned away from fighting drug trafficking and funding military construction projects.

President Trump is set to address the National Rifle Association’s annual meeting for the 3rd consecutive year. He’s viewed as the most gun-friendly president in decades and will be appearing before one of his most loyal bases. His appearance comes about a month after his administration pushed through a ban on bump stocks.

April 05– Apr. 5– President Trump confirmed Thursday he’s tapping political loyalist and former fast food executive Herman Cain to the Federal Reserve board– a curious pick that will likely face bipartisan opposition in the Senate. Speaking to reporters in the Oval Office, Trump said reports about his considering Cain for the post were true and described the…

Republican lawmakers aren’t pursuing a replacement for the health care law known as “Obamacare” until after the 2020 elections. Who gets credit for that political maneuvering depends on who you ask. Senate Majority Leader Mitch McConnell told reporters Tuesday that he made it clear to President Donald Trump that the Senate isn’t going to draw up a new health care law with Democrats controlling the House. Trump says the delay is his idea.

April 02– Apr. 2– Though the ruinous consequences of high health care costs don’t follow party lines, Republicans tend to believe they’re getting more for their money than Democrats and independents do, according to the results of a new nationwide survey released today by San Diego’s West Health. Meanwhile, Democrats are coming forward with their own health…

President Donald Trump is meeting with the secretary-general NATO, as tensions test the Western Alliance. The president is meeting on Tuesday with Secretary-General Jens Stoltenberg at the White House ahead of a meeting of NATO foreign ministers marking the organization’s 70th anniversary.

April 02– Apr. 2– WASHINGTON– If you want a glimpse of what the next 19 months in Congress will be like, look at the past week. That’s what Congress is primarily about now, even as hugely consequential questions from climate change to immigration loom over everything. Republicans and Democrats are so far apart on these issues they can’t even agree whether they are…

The White House said Tuesday it’s studying options to close parts of the U.S.- Mexico border, a followup to a threat from President Donald Trump to do so to stem the flow of migrants. Sanders added the White House Council of Economic Advisers has started examining the effect of closing entry points. Democrats are leaving us absolutely no choice at this point. “

The head of the International Monetary Fund says the global economy is at a “delicate moment” with a hoped-for rebound in growth later this year being threatened by a variety of factors from such as rising trade tensions. IMF Managing Director Christine Lagarde says the IMF does not have a recession in its updated forecast to be released next week as long as policy missteps are avoided.

Democratic presidential candidate Amy Klobuchar is proposing an infrastructure plan she says will provide $1 trillion to fix roads and bridges, protect against flooding and rebuild schools and other projects. The plan announced Thursday is the first policy proposal from the Minnesota senator since she joined the 2020 race. Klobuchar’s campaign says that her plan would leverage $650 billion in federal funding and that about $400 billion would come from raising the corporate tax rate.

Court records show President Donald Trump’s pick to serve on the Federal Reserve’s Board of Governors had a lien of more than $75,000 filed against him in 2018 for unpaid taxes and additional penalties. The president said last week he intends to nominate Stephen Moore, a conservative economic analyst and frequent Federal Reserve critic, to fill a vacancy on the Fed’s seven-member board.

One day after the Senate stymied attempts by progressive Democrats to pass the Green New Deal, House Speaker Nancy Pelosi introduced more scaled-back legislation Wednesday to fight climate change. The bill would recommit the United States to the 2016 Paris Agreement on climate change, which seeks to keep the rise of global temperature this century to less…

U.S. Representative Mike Doyle announced that the legislation he introduced to restore Net Neutrality, the “Save the Internet Act,” has been approved by the House Energy and Commerce Committee’s Subcommittee on Communications and Technology. The Save the Internet Act would prohibit internet service providers from blocking, throttling, or engaging in paid…

The Federal Reserve Bank of Boston issued the following news release:. Federal Reserve Bank of Boston President Eric Rosengren explored misconceptions about the Fed’s balance sheet- the assets the central bank holds, and the liabilities and capital used to finance those assets- in a speech in Hong Kong. “In my view, concerns about the international economy,…

NEW YORK- U.S. stocks capped a day of choppy trading with an uneven finish Monday as investors wrestled to make sense of newly pessimistic outlooks for the global economy. “Today’s moves are very reflective of very different interpretations of the environment and risks ahead,” said Luke Tilley, chief economist at Wilmington Trust. WASHINGTON- The nation’s…

If someone offered you an investment starting with a 2.5 percent annual interest that would decline gradually for 10 years, at which point they’d return slightly less than 80 percent of your principal, would you take it? These types of investments are often called “safe.” 2.5 percent inflation is barely worth mentioning.

President Donald Trump on Friday canceled the latest sanctions on North Korea hours after he said they were imposed by the U.S. Treasury Department. “It was announced today by the U.S. Treasury that additional large scale Sanctions would be added to those already existing Sanctions on North Korea. Under the penalties, Dalian Haibo International Freight Co….

Trump’s comments at the facility in Lima, Ohio, came just days after the president fired off several remarks on Twitter in which he criticized General Motors and the UAW for the idling of a plant in Lordstown, Ohio, which GM announced late last year. John McCain, Trump repeated many of those earlier remarks, calling on GM to “get that plant open or sell it to somebody and…

The White House said Tuesday that the share of Americans in the workforce is stabilizing, and President Trump is pushing for policies to encourage even more people to work as baby boomers near retirement. Rising wages, declining regulatory costs and an increase in blue-collar manufacturing jobs have helped the labor-force participation rate to steady…

But speaking Tuesday in the Old Chapel at the University of Massachusetts, Neal spent little time on those issues, sticking instead with what he said he knows best—“ inside baseball.”. Much of Neal’ s talk consisted of those moments, telling the audience the details of his work on Capitol Hill. He explained the purview of the Committee on Ways and Means, which he now…

With tariffs continuing to take a toll on U.S. businesses, farmers, communities, and families across the country, a new report by IHS Markit released today outlines the impact of tariffs on the equipment manufacturing industry and the broader U.S. economy. “This report shows that tariffs continue to take a toll on U.S. equipment manufacturers, who will pay…

March 18– Mar. 18– New York Sen. Kirsten Gillibrand officially joined the crowded race for the Oval Office on Sunday– and plans to deliver her first speech as a candidate outside the Trump International Hotel& Tower in Manhattan on Sunday. Gillibrand follows former Texas congressman Beto O’Rourke into the race.