President Biden and the Democrat-led Congress helped add $3.1 trillion to the federal deficit over the next decade, the Congressional Budget Office said Wednesday, delivering a depressing picture of the government’s finances and the economy.
Half of Americans say they are worse off financially than they were a year ago, the highest level of reported decline since the financial crisis, a Gallup poll released Wednesday showed.
The latest numbers from the Bureau of Economic Analysis show that the U.S. economy grew by 2.9 percent in the fourth quarter of last year, and 2.1 percent for 2022.
Sales of new U.S. homes rose for the third straight month in December as high mortgage rates continued to decline, offering some relief for prospective homebuyers.
Treasury Secretary Janet Yellen asserted on Saturday that House Republicans attempting to negotiate spending cuts amid the renewed debt ceiling battle are “very irresponsible.”
The U.S. government bumped up against its debt limit Thursday, prompting the Treasury Department to take “extraordinary” accounting steps to avoid default — as friction between President Joe Biden and House Republicans raised concern about whether the U.S. can sidestep an economic crisis.
Big banks in the United States are getting ready to deal with shrinking profits due to factors like an overall difficult economic environment, despite the fact that interest incomes have risen over the past year.
