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When a government borrows to fund its programs, that puts pressure on consumer prices, according to research by Ernie Tedeschi, director of economics at Yale University’s Budget Lab and former chief economist for President Joe Biden’s White House Council of Economic Advisers.
Inflation’s annual U.S. rate registered 2.8 percent in February, compared to 3 percent the month before, the Labor Department reported.
In February, the U.S. budget deficit surpassed $1 trillion. February was only the fifth month of the federal government’s fiscal year, which begins 1 October.
Rich and poor alike, U.S. consumers are spending less on both wants and needs, the Financial Times reported.
U.S. investors greeted Donald Trump’s re-election with joy, anticipating tax cuts, fewer regulations, and soaring profits. Stock prices climbed even further beyond the value of companies’ future earnings. The difference between stock prices and the price of government bonds widened to its greatest in 20 years.
Federal job cuts continue as President Donald Trump and his Department of Government Efficiency head Elon Musk slash government waste.
Elon Musk’s xAI will bring on thousands more "AI tutors" this year, three unnamed employees told Business Insider.
U.S. President Donald Trump signed an executive order last week that his critics say gives him unprecedented power over so-called independent federal agencies intended to work outside of the purview of the White House.
Germany abandoned Chancellor Olaf Scholz’s three-party coalition in the country’s snap election on Sunday handing overall victory to Friedrich Merz, the leader of the Christian Democratic Union, and giving the far-right Alternative for Germany (AfD) its strongest showing ever, coming in second place.
Elon Musk, the Tesla head who donated over $250 million to Donald Trump’s presidential campaign, has been tasked by the White House to seek and destroy government inefficiencies and waste, but critics wonder how effective the world’s richest man could be given that his companies pull in $20 billion a year in government contracts.
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