Federal debt will nearly double the nation’s Gross Domestic Product by 2052 if it continues on its current trajectory, the U.S. Congressional Budget Office says in its economic and debt forecast released Wednesday.
U.S federal debt surpassed $30 trillion in February, and the most recent GDP data showed a decline of 1.6% in the first quarter of 2022. GDP second quarter data is set to be released Thursday.
The Biden administration’s oft-touted talking point that employment has boomed under the administration is misleading and instead simply a natural recovery from pandemic losses, economists told the Daily Caller News Foundation.
Facing consecutive quarters of negative gross domestic product (GDP) growth, sky-high inflation and plummeting consumer sentiment, the Biden administration has routinely cited a low unemployment rate and strong on-paper jobs creation as positive results of President Joe Biden’s economic stewardship. But the notion that these figures represent booming job creation is misleading since the economy has merely rebounded by adding back jobs that were lost during the pandemic and has still yet to reach pre-pandemic levels, economists told the DCNF.
U.S. gross domestic product decreased by 0.9% in the second quarter of 2022, according to new data from Bureau of Economic Analysis, signaling the start of an economic recession in the U.S.
“The decrease in real GDP reflected decreases in private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by increases in exports and personal consumption expenditures…” the BEA said Thursday.
by Debra Heine The White House is being accused of gaslighting the American people with “Soviet levels of propaganda” as Biden officials attempt to change the definition of recession amid economic data that shows the United States is entering into a recession. A recession is traditionally defined as two…
Forty-six of the 50 U.S. states saw a decline in gross domestic product in the first quarter of 2022, newly released federal data shows.
The Bureau of Economic Analysis reported Thursday that only Massachusetts, Michigan, New Hampshire and Vermont bucked the trend with increases in GDP in the first three months of this year.
Even a truncated Russian Federation has four times the pre-war population of Ukraine. It enjoys well over 10 times the Ukrainian gross domestic product. Russia covers almost 30 times Ukraine’s area.
And how does Ukraine expel Russian troops from its borders when its Western allies must put particular restrictions on their life-giving military and financial aid?
The interests of Europe and the United States are not quite the same as those of a beleaguered Ukraine. NATO also wants Vladimir Putin humiliated, but only if the war can be confined within the borders of Ukraine.
U.S. Sen. Ted Cruz, R-Texas, says that skyrocketing inflation and long lines at gas stations are a result of President Joe Biden’s policies and are returning the U.S. to the days of high inflation, high cost of living and gas lines under President Jimmy Carter.
Eleven months into Biden’s term, inflation reached a 31-year high and gas prices surpassed a seven-year high.
“I’ve got to tell you the trillions that are being spent, the trillions in debt that’s being racked up, it is historic and not in a good way,” Cruz told Fox News’ “Sunday Morning Futures.”
The U.S. economy grew at a 2% rate in the third quarter of 2021 as supply chain issues and the delta variant slowed gains.
The U.S. gross domestic product (GDP), a measure of net services and goods produced, grew at a 2% rate during the third quarter of 2021, the slowest gain of the pandemic era, the Bureau of Economic Analysis (BEA) reported Thursday.
President Joe Biden is taking fire for comments he made about his $3.5 trillion legislation just as the bill faces a deeply split Congress.
Biden made headlines for claiming the bill would cost “zero dollars,” despite media reports and members of both parties commonly naming the bill’s cost at $3.5 trillion for the last several months.