The federal government spent $779 billion more than it took in during the 2018 fiscal year, the highest deficit since 2012, according to Treasury Department data released Monday. The deficit rose 17 percent from the previous year, fueled by the 2017 GOP tax cuts and a bipartisan agreement to increase spending. Treasury projected that the […]
Deficit Hits Six-Year High of $779B…
Democrats Agenda If House/Senate Flip…
Democratic committee leaders are ready to roll out an ambitious legislative wish list if the House majority flips in next month’s midterm elections. After eight years in the minority, Democrats have big plans, from shoring up ObamaCare and Dodd-Frank financial rules to protecting “Dreamers” and the integrity of elections. They are also vowing to aggressively […]
Treasury Sanctions Iranian Officials over Ballistic Missile Support to Yemen Rebels…
China Unexpectedly Slashes Auto Tariffs After Trump Trade Truce…
In an unexpected, but notable, victory for President Trump’s aggressive trade agenda and exporters of cars around the globe, China’s Ministry of Finance announced Tuesday morning that it would slash passenger car duties to 15%, further opening up the market that’s been a key target of the U.S. in its trade fight with Beijing. This […]
Trump Officials Set for New Round of China Trade Talks at White House…
Trump administration officials are gearing up for a new round of trade talks with Chinese officials at the White House on Thursday after a U.S. trade delegation traveled to China earlier this month. The White House announced on Wednesday that Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, U.S. Trade Representative Robert Lighthizer and additional […]
China Responsible for Destroying U.S. Manufacturing…
Tensions Erupt in Trump’s Trade Team Ahead of China Talks…
U.S. Eases Sanctions on Aluminum Firm Tied to Russian Oligarch…
The Treasury Department Monday eased sanctions on Russian aluminum producer Rusal and said it would consider lifting them altogether if the company severs ties with Oleg Deripaska, a Russian oligarch with close ties to President Vladimir Putin. Rusal was sanctioned earlier this month by Treasury’s Office of Foreign Assets Control because of Deripaska’s stake in […]
After Being Told He’s ‘Full of Sh*t’ at School Event, Mnuchin Demands UCLA Suppress Video…
Trump Treasury Secretary and former Goldman Sachs banker Steve Mnuchin isn’t accustomed to facing direct challenges to his wild economic claims or protests over the GOP tax plan he helped craft, and after experiencing both during an event at UCLA’s Burkle Center on Monday, Mnuchin demanded that video of his appearance be suppressed. According to […]