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US Economy - Page 29

House passes five-day government funding bill, averting weekend shutdown

The House passed a bill Friday to keep the federal government funded until midnight Wednesday, averting a shutdown that would have begun Saturday if Congress had not acted. The temporary spending measure, approved by voice vote, gives lawmakers five more days to try to negotiate a deal on a $1.1 trillion spending package to fund federal agencies through the 2016 fiscal year. The Senate passed the short-term extension by voice vote on Thursday. Ref. USAToday

Economy US

The Deflation Monster Has Arrived:

Just in the two weeks since the start of 2016, the US equity markets are down almost 10%. Their worst start to the year in history. Many other markets across the world are suffering worse. Ref. Source 6f.

US Economy History & Civil Business Politics

Economic inequality soars in US:

Economic inequality leapt ahead in 2015 in the United States, with the average incomes of the top 1 percent rising twice as fast as the incomes of the remaining 99 percent of households Ref. Source 6x.

Page 29 Economy US

Household income jumps 5.2% in 2015 in first annual increase since 2007; poverty rate drops to 13.5%

Median U.S. Household income rose to $56,516 in 2015, up from $53,718 in 2014. The number of people in poverty fell 3.5 million to 43.1 million in 2015. Ref. USAToday.

Economy US

The U.S. Economy added 161,000 jobs in October, a solid gain yet below the 191,000 jobs added in September, according to the Labor Department.

It is the last look at the health of the economy for Americans voters before they cast their ballots.

Unemployment fell a tick to 4.9%. That's down by half since 2009, when unemployment peaked at 10%. Ref. CNN.

US Economy

Trump orders two-for-one repeal for all new regulations

President Trump signed an executive action Monday that he said would "Knock out two regulations for every new regulation" adopted by federal agencies. The change, he said, was aimed at helping small businesses and was "The largest cut by far, in terms of regulation" in history. Details of the order were not immediately available. Ref. USAToday.

US Economy - Page 29

President Donald Trump released a $1.1 trillion budget outline Thursday that proposes a $54 billion increase in defense spending and corresponding cuts to non-defense spending at the State Department, the Department of Housing and Urban Development, the Environmental Protection Agency and the wholesale elimination of other federal programs.

Presidential budget plans outline the administration's priorities but must be approved by Congress and are always changed in the process.

The blueprint features the broad strokes of Trump's plan to dramatically remake the federal government, slashing EPA funds by 31%, State Department by 28% and HUD by 13.2%, while zeroing out funding for the Corporation for Public Broadcasting, the Institute of Museum and Library Services, the National Endowment for the Arts and the United States Institute of Peace, among others.

The proposal would also reduce funding for multinational organization like the World Bank by $650 million.

Mick Mulvaney, Trump's director of the Office of Management and Budget, described the proposal as a "Hard power budget" in a Wednesday briefing with reporters, meaning the Trump administration will prioritize defense spending over diplomacy and foreign aid. Ref. CNN.

US Economy Politics Business Civil & History - Page 29

I think we need to cut back on foreign aid. We are giving money to countries that work at causing issues to our way of life. Why should we be supporting nations that hate us. Many nations have no defense budget as they se our aid for their defense.