Senate Minority Leader Mitch McConnell, R-Ky., joined by GOP leaders, talks to reporters briefly to warn that Republicans will block the House-passed measure to keep the government funded and suspend the federal debt limit despite setting up a high-stakes showdown that will risk of triggering a fiscal crisis, at the Capitol in Washington, Wednesday, Sept.
The House voted late Tuesday to keep the government funded, suspend the federal debt limit and provide disaster and refugee aid, setting up a high-stakes showdown with Republicans who oppose the package despite the risk of triggering a fiscal crisis. The federal government faces a shutdown if funding stops on Sept. 30, the end of
As measured by the Consumer Price Index, annualized inflation was between 8 and 11 percent over the past four months. The last time the economy experienced four consecutive months of inflation this high was at the tail end of Jimmy Carter’s stagflation. What we’re experiencing is the latest in a sequence of dominoes that began falling
Fifty years ago next month, with inflation rising and growing trade deficits, President Richard Nixon suspended the conversion of the U.S. dollar into gold. This decision effectively ended the Bretton Woods system — the final attempt at an international gold standard — and ushered in a new era of floating exchange rates between major currencies,
As the Biden administration prepares the largest tax hike since World War II, a longtime Republican economic advisor is sounding the alarm on “Bidenomics.” In an exclusive interview with Inside Sources, Arthur Laffer, who as a member of President Ronald Reagan’s Economic Policy Advisory Board is credited with America’s economic boom in the 1980s, warned of the
Support for Biden’s $1.9 trillion coronavirus relief package may not be as broad as it seems – it’s all a matter of perspective
Government spending bills that cost billions or trillions of dollars can seem abstract. Siri Stafford/DigitalVision via Getty Images Aaron Saiewitz, University of Nevada, Las Vegas and M. David Piercey, University of Massachusetts Amherst CC BY-NC-ND Congress is on the verge of spending US$1.9 trillion to provide additional coronavirus relief to Americans, including $1,400 direct payments