economy

On Friday, President Joe Biden defended his administration’s $1.9 trillion coronavirus relief plan and stressed that now is not the time for fiscal conservatism. Per CNBC, speaking from the White House, Biden said that he tried to work with Republicans but gave up on the idea because they insisted on a smaller package. “I’d like […]

January saw the United States add 49,000 jobs as the unemployment rate dropped to 6.3 percent, as reported by Yahoo! Finance. This signals a 0.4 percent drop in the rate, according to the Labor Department. Friday’s release of data reveals that the economy appears to once again be heading toward recovery after jobs declined in […]

President-elect Joe Biden’s director of the National Economic Council has warned that the U.S. economy is “spiraling downward” after facing record unemployment numbers and businesses that have been damaged if not completely destroyed due to the novel coronavirus pandemic. According to Bloomberg, top economic adviser Brian Deese stated on Sunday morning that decisive action will […]

President Donald Trump continued to tout the manner in which the American economy has performed under his watch via Twitter on Saturday, while predicting record growth in 2021. In the tweet, the president opined that the U.S. had outperformed every other nation in the world in its recovery amid the COVID-19 pandemic. “Our ECONOMY is […]

Democratic presidential nominee Joe Biden is releasing a slew of advertisements slamming President Donald Trump’s handling of the economy, The Hill reported Wednesday. The ads will target voters in the key battleground states of Arizona, North Carolina, and Pennsylvania. The brief video clips feature statements from small business owners who have been impacted by the […]

In an interview on Sunday, economist Stephen Moore, an ally of U.S. President Donald Trump, said that the Democratic Party’s presumptive presidential nominee Joe Biden will bring a “left-wing economic agenda” if elected, The Hill reported. Speaking with radio host John Catsimatidis, Moore noted that Trump is trailing Biden in critical battleground states but expressed […]

The Democratic Party’s presumptive presidential nominee, Joe Biden, has expanded his national lead over President Donald Trump, according to the June CNBC All-America Economic Survey released on Thursday. The poll found that 47 percent of registered voters support Biden, while 38 percent back Trump. The former vice president’s lead has increased 4 percentage points since […]

Advisers to U.S. President Donald Trump are concerned about future trade deals between China and the United States, The Washington Examiner reported on Saturday. During a press conference on Friday, Trump refused to share details about the so-called phase one trade deal and did not take any questions from reporters. However, the president told Fox […]

California’s government has now accused ride-hailing companies Uber and Lyft of breaking a state law by misclassifying their drivers as contractors. As CNBC reports, California Attorney General Xavier Becerra claimed that the popular ride-hailing services denied operators essential employee protections and benefits — entitlements that operators would have access to if classified as employees. These […]

Progressive politicians — such as Democratic presidential candidates Bernie Sanders and Elizabeth Warren — are often accused of promoting ideas unacceptable to the American public, but polling has cast doubt on this conventional wisdom. According to a new poll from The Hill and HarrisX, around two-thirds of Americans support a wealth tax on billionaires, a […]

Donald Trump’s proposed budget would eliminate a popular student loan forgiveness program, a measure that has drawn pushback from critics. The president on Monday released his budget proposal for 2021, which included deep cuts to programs aimed at helping student loan borrowers, CNBC reported. The plan cuts student loan spending by $170 billion and adds […]

In his State of the Union address on Tuesday night, Donald Trump boasted that under his presidency, American workers have seen a “blue collar boom.” But a stunning new study by a University of Maryland economist, published by the nonprofit public policy news site The Conversation, shows that since Trump took office, the average real […]

Donald Trump spoke Friday at the “Opportunity Now” summit in Charlotte, North Carolina, where he boasted that the United States’ economy has made a “comeback” during his term and that predictions the U.S. would be overtaken by China have not come true. In fact, Trump said, “we are so far ahead now, we became a […]

Greece is offering a financial incentive to couples who have babies, in response to projections of a decreasing population that is expected to severely impact the economy, reported The Guardian. The Greek government will be awarding every couple who has a baby with a financial benefit of €2,000 (about $2,200). The baby bonus comes into […]

The punishing tariffs that Donald Trump imposed on imported goods and materials from overseas in 2018 may have helped reduce market competition, giving a boost to some American industries. But whatever benefit the tariffs created was essentially wiped out by the loss of American jobs and increased prices that have held the United States’ manufacturing […]

Legendary four-time James Bond actor Pierce Brosnan, who hasn’t exactly been friendly toward President Donald Trump in past interviews, offered a rare moment of praise for the 45th president, citing his handling of a strong American economy. According to Fox Business, in a recent interview with ITK, Brosnan offered his current thoughts on some of […]

Approval of President Donald Trump‘s handling of the U.S. economy has risen 7 points since the start of the impeachment inquiry, according to a new CNBC poll released on Wednesday. The poll shows that 49 percent of Americans said they approve of the president’s handling of the economy, up from 42 percent in September. Another […]

About a week after finalizing a new rule change that is projected to kick about 3.7 million Americans out of the Supplemental Nutrition Assistance Program, also known as “food stamps,” a new report says that the Donald Trump administration is about to make Social Security disability benefits for thousands of Americans who are unable to […]

White House officials and congressional Republicans are working on a new tax cut proposal, according to a report from The Washington Post. The talks are still in early stages, but President Donald Trump is reportedly adamant to release another package of economic stimuli before the 2020 presidential election. The president, those familiar with his thinking […]

On Monday, Democratic presidential candidate Bernie Sanders released a sweeping plan that would, he claims, level the playing field for working class Americans and “help create an economy that works for all.” Available in full at berniesanders.com, the candidate’s official campaign page, the plan details a set of reforms that would fundamentally restructure the American […]

As the United States and China continue their trade war — The Inquisitr reported that both countries slapped new tariffs on each other’s goods on Sunday — Business Insider reports that Republicans are growing increasingly nervous about the slowing economy and recession indicators. According to Republican Senator Pat Toomey of Pennsylvania, he believes Trump’s trade […]

President Donald Trump’s “opportunity zones” tax incentive, purportedly designed to help poor communities, is actually benefiting some of his closest allies, according to a new report from The New York Times. The multi-billion dollar tax break, allegedly meant to channel investments into poor communities and create housing and jobs, allows beneficiaries to “delay paying taxes […]

Donald Trump continued his attacks on his Federal Reserve on Wednesday, saying that the central bank is “mentally” unfit to keep up with the global economy. According to Fox News, the president criticized the Fed after returning from the G7 summit in yet another tweet, continuing his week-long tirade that started when news of the […]

During the latest edition of Fox News’s Justice with Jeanine, host Jeanine Pirro and her guest, conservative pundit Dan Bongino, accused the American media of trying to crash President Donald Trump’s economy, Mediaite reports. Pirro complained that publications such as the New York Times are trying to destroy the American economy in order to take […]

During the opening monologue of Unfiltered, broadcast on Saturday, Conservative pundit and CNN host S.E. Cupp accused President Donald Trump of lighting a “blow torch to the U.S. economy,” Raw Story reports. “If it feels like the world is on fire, that’s because it literally is,” Cupp began, reminding her viewership that the Amazon is […]

On Friday, President Donald Trump “ordered” American companies to cease doing business with China. “Our great American companies are hereby ordered to immediately start looking for an alternative to China,” the president tweeted. As The Inquisitr reported, the tweets came with an announcement of yet another set of tariffs on Chinese goods. This caused the […]

President Donald Trump said on Saturday that he will approve a “major middle income tax cut” if the Republican Party keeps the Senate and the presidency, and takes back the House of Representatives in 2020. In a Twitter message, the president wrote the following. “If Republicans take back the House, and keep the Senate and […]

On Friday morning, official Beijing announced new tariffs on $75 billion worth of U.S. goods. According to CNBC, China slapped retaliatory tariffs ranging from five to 10 percent in two batches effective on September 1, and December 1. An additional set of tariffs is scheduled to take effect on December 15 — a 25 percent […]

On Friday, President Donald Trump took to social media to urge American companies to cease doing business with China. In a Twitter thread, the president accused China of stealing money from the United States. “The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and […]

Democratic presidential candidate Andrew Yang took to Twitter Monday to express his belief that politicians are overlooking the best solution to helping people — putting money into their hands — and their perception of how the United States economy is supposed to function. “Even our politicians have been brainwashed into thinking that economic value and […]

Earlier this week, as Reuters reported, the yield curve inverted for the first time since 2007. A strong and reliable predictor of recession, the curve had inverted before each recession in the past five decades. The American manufacturing sector is already in recession, according to a new report from The Hill, which poses a number […]

Comedian Bill Maher came under fire last week for suggesting that an economic recession would be preferable to President Donald Trump winning in 2020. As The Washington Examiner reported, Maher told his guest, conservative Trump critic Tom Nichols, that he “should wish for a recession” if he wants to see Trump lose re-election. The guest […]

As fears of recession continue to grow, President Donald Trump is taking to social media to reassure the American public that there is no reason to worry. “Walmart, a great indicator as to how the U.S. is doing, just released outstanding numbers,” the president wrote on Twitter, before accusing the “fake news media” of trying […]

During an interview with The Atlantic, Democratic presidential candidate Andrew Yang criticized the United States’ “subsistence labor model” and suggested that the economy needs to evolve. Yang made the comments in response to the question of what he would say to people who believe that he is drawing young, disaffected supporters looking for a way […]

President Donald Trump said on Thursday that the economy will “go down the tubes” unless he wins in 2020, Mediaite reports. The president suggested to members of the media that he is largely responsible for the state of the economy, taking a jab at former President Barack Obama. “We picked up tremendous steam the day […]

Democratic presidential candidate Andrew Yang recently took to Twitter to address his belief that the United States economy and its government needs to be humanized. He suggests that the structures of corporations and bureaucracies push people to do terrible things “in pursuit of the bottom line” and shared a video of him discussing the issue […]

Job growth has slowed under the Trump administration, despite the president’s insistence on pointing to “JOBS, JOBS, JOBS!” as a sign of a strong economy under his administration, economist Rick Newman says. Writing in Yahoo Finance, Newman makes two key points before getting into the meat of the differences in job growth under the two […]

Donald Trump may be presiding over a booming economy, but that doesn’t mean that voters are willing to give him credit for it, Yahoo News reports. In fact, a new poll shows that a large percentage of Americans aren’t prepared to credit Trump with the economy or to even admit that they’ve benefited from it. […]

Donald Trump will be re-elected in 2020, according to various models used to predict elections, Slate reports. Among the reasons for the predicted victory are a strong economy and an advantage always held by White House incumbents. Specifically, three models developed by three different academics all reach the same conclusion: that Trump will win the […]

It may be “kitchen table economics,” not national economic data, which influences how Americans feel about the United States economy in the run-up to the 2020 election, writes Robert Reich in an opinion piece for The Guardian. Reich is a professor of public policy at the University of California at Berkeley and was the United […]

The United States federal budget deficit in February was the largest in history according to the Treasury Department, HuffPost reports. Despite Donald Trump’s promise to balance the budget within eight years, in the two years since he took office, the country’s total debt has increased by $2 trillion, with a $234 billion budget shortfall in […]

While campaigning for president of the United States in 2016, Donald Trump promised massive tax cuts. He has delivered, initiating a $1.5 billion tax reform. The American economy is currently soaring thanks to the president’s fiscal policies — primarily the tax cuts — but the boom will not last forever. According to Edmund Phelps, a […]

As the scandals and irate tweetstorms and legal troubles continue to unfold for President Donald Trump and his family, it’s almost impossible to imagine any kind of predictive election modeling that would make him the heavy favorite in the upcoming 2020 presidential election. But according to a piece in Politico, a number of well-respected researchers […]

Despite President Trump’s vocal vows to narrow the trade gap between the United States and major trading partners, that deficit has now peaked at a record-breaking $891 billion, The New York Times reports. The shift was partly out of the president’s control, with driving factors including a strong U.S. dollar and a slowdown in demand […]

The New York Fed reports that more than 7 million Americans are behind on their car payments by 90 days or more as of the end of last year, CNBC reports. That figure is more than 1 million people higher than the previous record in the United States, which peaked in 2010 following the economic […]

The economy is rigged. That’s the conclusion following an extensive analysis of 20 years of pricing data conducted and compiled by HowMuch.net. The study, which looked at a wide range of consumer goods and services from the critical to the trivial, plotted price fluctuations over the last two decades. The results generally determined that things […]

On Monday, a new report from the nonpartisan Congressional Budget Office stated that the partial government shutdown cost the American economy a staggering $11 billion. This money includes reduced demand, delayed government spending, and lost work from furloughed federal workers. According to CNBC, most of the damage done economically will be reversed, as the government […]

A new report has predicted that the United States is destined to fall to number three on the list of the world’s largest economies by 2030, with China and India assuming the top two places. The report, which was written by the British financial services company Standard Chartered, anticipates a significant change in the global […]

President Donald Trump is claiming to have spoken with the General Motors CEO Mary Barra on the fate of the nearly 15,000 jobs that will be lost due to company restructuring, according to NBC. On his way to appear in campaign rallies for Republican Senator Cindy Hyde-Smith in Mississippi, Trump told the press that he […]

“He’d just say, run the presses, run the presses. Sometimes it seemed like he was joking, and sometimes it didn’t,” a former Trump administration official recounted for the Washington Post. Trump’s plea to “run the presses” was directed at former National Economic Council Director Gary Cohn, as the president was trying to persuade the council […]