A new economic analysis of the U.S. economy projects a recession around the corner.
An international nonprofit, The Conference Board, has released its Leading Economic Indicators report, which projects into the next year for the U.S. economy. That analysis, among other things, projects high inflation, high interest rates and declining consumer spending.
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Recognizing the precarious plight of the nation’s fiscal situation, newly installed House Speaker Mike Johnson has called for a bi-partisan commission to study the nation’s debt. Everyone involved in federal fiscal policy for a length of time surely responded with some variation on, “Good grief, Charlie Brown.” Congress has formed and ignored innumerable such groups over many decades.
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Florida Rep. Matt Gaetz declared Sunday he will seek to oust Kevin McCarthy as House speaker after a drama-filled scramble to pass a federal budget forced a last-minute temporary spending bill that required Democrat votes to pass.
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New research is challenging assumptions about the Republican Party’s core values, showing the GOP of the 2020s is an entirely different animal from the GOP of the 2010s. The research captures an increasing shift toward populism and America First priorities that has been growing since Former President Trump’s election in 2016.
The study by American Compass divides Republicans into two camps, the Old Right and the New Right, based on their economic priorities and approach to cultural issues.
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Declaring that it’s time for Washington to start working for Americans and not the other way around, GOP presidential candidate Nikki Haley laid out her economic “Freedom Plan in a speech Friday in New Hampshire.
The former South Carolina governor and United Nations ambassador is proposing a litany of middle-class tax cuts, regulatory relief and “third rail” entitlement reforms in a proposal she asserts will check communist China aggression through American prosperity.
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On Monday, the House Freedom Caucus (HFC) struck a blow in the fight for fiscal displume. In a 431-word statement, the conservative House Republicans put Official Washington on notice that when Congress returned in September and took up the seemingly annual short-term spending bill known as a “Continuing Resolution,” the HFC would not vote to fund business as usual. Instead, HFC members would only support a short-term spending bill to keep the government open if it also included several of their key policy priorities – policy priorities that would represent significant shifts in key areas of government policy.
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The House Freedom Caucus, a group of conservative lawmakers in the House, outlined Monday what conditions would need to be met for them to vote for a new spending bill.
The group is calling for spending bills to include provisions on border security, the “unprecedented weaponization” of the Justice Department and FBI, and the Pentagon’s “cancerous woke polices.” The lawmakers also oppose “any blank check for Ukraine in any supplemental appropriations bill.”
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The national unemployment rate dipped to 3.5 percent in July, according to the latest data from the Bureau of Labor Statistics, once again hitting more than 50-year lows.
It’s still peak employment as far as the eye can see. Even with the past two years’ high inflation dropping dramatically and disinflation usually correlating with higher unemployment and a recession, that simply has not occurred yet, despite all the warning signs typically associated with an economic slowdown or downturn.
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Increased spending, common good bargaining, community schools and transitional kindergarten will not improve student learning.
A Gallup poll released earlier this month shows that just 28% of Americans have “a great deal” or “quite a lot” of confidence in K-12 public schools. The number for Republicans is particularly damning: Just 14% of GOPers view education in a positive light.
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The U.S. Senate on Thursday evening passed a compromise deal to suspend the debt ceiling until after the presidential election while capping the rate of spending growth in subsequent years.
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