China’s economy stumbled more sharply than expected in July, with industrial output growth cooling to a more than 17-year low, as the intensifying U.S. trade war took a heavier toll on businesses and consumers.
Congress sent a two-year budget and debt ceiling deal to President Trump over the objection of 22 Senate Republicans.
The House passed a massive budget and debt ceiling deal Thursday, but a majority of Republican lawmakers voted against it.
Observing a rare cease-fire in their battles with President Donald Trump, the Democratic-controlled House on Thursday easily passed bipartisan debt and budget legislation to permit the Treasury to issue bonds to pay the government’s bills and lock in place recent budget gains for both the Pentagon and domestic agencies.
US President Donald Trump said Monday that a ‘compromise’ bipartisan budget agreement has been reached that will boost federal spending by $320 billion and suspend the debt limit beyond the next presidential election.
President Donald Trump and congressional leaders announced late Monday they had struck a critical debt and budget agreement. The deal amounts to an against-the-odds victory for Washington pragmatists seeking to avoid politically dangerous tumult over the possibility of a government shutdown or first-ever federal default.
Speaker Nancy Pelosi said Thursday that the Democratic-controlled House won’t pass must-do legislation to increase the government’s borrowing cap until the Trump administration agrees to boost spending limits on domestic programs.
Britain’s Queen Elizabeth, Prime Minister Theresa May, and U.S. President Donald Trump are set to gather with other world leaders in southern England to mark the anniversary of the D-Day invasion during World War II.
The federal government’s overall financial condition worsened by $4.5 trillion in 2018, according to an analysis from government financial watchdog Truth In Accounting (TIA).
The federal budget deficit rose by $94 billion to $693 billion for the first half of fiscal 2019, the Congressional Budget Office estimated Friday in its monthly budget review.
House lawmakers are poised to advance a two-year break from federal spending caps imposed by a 2011 law that sought to reduce the debt.
House Democrats next week hope to advance a two-year proposal that would raise caps on defense and domestic spending that were put in place in 2011 to reduce the debt.
Federal Reserve Chairman Jerome Powell said Wednesday that reducing the federal debt needs to return to the forefront of the agenda, warning that the government’s finances are unsustainable.
Israel is owed a record $158.3 billion in debts from countries around the world, according to figures published by the Bank of Israel and Central Bureau of Statistics on Monday.
President Trump’s fiscal year 2020 budget projects that he would add nearly as much to the national debt in eight years as former President Barack Obama did during his tenure.
U.S. credit card debt hit $870 billion — the largest amount ever — as of December 2018, according to the data from the Federal Reserve. Credit card balances rose by $26 billion from the prior quarter.
The federal deficit will rise to $897 billion this year but isn’t expected to surpass $1 trillion for another three years, the Congressional Budget Office said in a report Monday.
President Trump, like his predecessors, has done virtually nothing to stop America’s runaway debt train.
At first glance, it looks like a $9 trillion time bomb is ready to detonate, a corporate debt load that has escalated thanks to easy borrowing terms and a seemingly endless thirst from investors.
Angela Merkel set off Monday on what could be a three-year countdown to the end of her leadership of Germany, a stint that has made her the European Union’s longest-serving leader and a key figure in facing the continent’s many crises.