The U.S. trade deficit rose in 2022 to the largest-ever recorded gap of $948.1 billion as American consumers continue to depend heavily on imports to meet demand, according to data released Tuesday by the Commerce Department.
After a year of immense spending during the COVID-19 pandemic and ensuing economic downturn, the federal deficit is projected to hit $3 trillion for the second year in a row, according to the Congressional Budget Office.
The U.S. warns that Russia and Iran’s relationship has turned into a “full-fledged” defense partnership adding to concerns their cooperation will lead to more bloodshed in Ukraine and elsewhere, including Israel.
The U.S. trade deficit widened sharply in October as slowing global demand and a strong dollar weighed on exports.
The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden’s student debt forgiveness plan.
President Joe Biden’s plan to erase student debt and modify payments for millions of Americans could cost as much as $1 trillion, according to budget analysts.
The United States ran a merchandise trade deficit of $200,096,600,000 with the People’s Republic of China in the first six months of this year, according to data released today by the Census Bureau.
The US federal government collected a record $3,835,390,000,000 in total taxes in the first nine months of this fiscal year, the new Monthly Treasury Statement of Receipts and Outlays of the United States Government (MTS) reports. The Fiscal Year-to-Date (FYTD) budget deficit through June was $515 billion, a $1.723 trillion (-77%) decrease from the same period last year.
“My oath of office is to the U.S. Constitution, not to any foreign nation,” Sen. Rand Paul (R-Ky.) said in a speech on the Senate floor Thursday, as some of his fellow Republicans urged immediate passage of a bill — this one totaling $40 billion — to fund U.S. assistance for the situation in Ukraine.
The U.S. trade deficit surged to a record high in March, confirming that trade weighed on the economy in the first quarter and could remain a drag for a while as businesses replenish inventories with imported goods.
Sri Lanka has urged its citizens overseas to send home money after announcing a default on its $51 billion foreign debt amid anti-government protests.
President Joe Biden’s budget proposal, which the president released today, calls for the federal government to collect a record $4,638,000,000,000 in taxes in fiscal 2023.
The Democrat-led Congress might still be able to garner enough votes to pass President Biden’s massive spending package, despite already raising federal spending by more than 6% and presiding over record deficit and debt levels.
The U.S. trade deficit continued to grow in January as the import-export gap widened to a record high, The Wall Street Journal reported.
The U.S. trade deficit of 2021 hit record levels, nearing $1 trillion. This comes despite the Biden administration’s promises to improve the economy and bolster American manufacturing.
The U.S. national debt passed $30 trillion for the first time in U.S. history on Tuesday, according to Treasury Department data.
The U.S. trade deficit topped $1 trillion for the first time last year, according to Market Watch.
President Joe Biden’s first year in office has been a disaster of epic proportions. Afghanistan and the southern border? Disaster. His handling of the COVID-19 pandemic after promising to “shut down” the virus and hiring Ron “Ebola Czar” Klain as his chief of staff? Disaster. His decrepit disposition and the fact that Kamala Harris is a heartbeat away from power? You get the idea.
The U.S. trade deficit surged to a near-record high of $80.2 billion in November as exports slowed at the same time that imports jumped sharply.
President Joe Biden’s sweeping spending bill, the Build Back Better Act, would add $3 trillion to deficits over 10 years if made permanent, according to a new Congressional Budget Office cost analysis.