DATA PREVIEW: OCTOBER EMPLOYMENT REPORT TAKES A RARE BACKSEAT
By Kevin Kastner WASHINGTON (MaceNews) – It takes a lot to knock the employment report off its perch as the week’s most important economic event, but that will be case in the upcoming week. By the time we get to Friday’s release for October, fatigue may have set it. Obviously, the main event for the […]
STATUS CHECK: ‘I WANT TO SHOW STRENGTH AS A LEADER’
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes: Another MAGA rally, this one in Freeland, Mich. Thursday night, well attended. Familiar themes, cheers of “Four more years,” and very few masks. September 15’s “Burn Your Mask” day is still on. Earlier […]
US CBO TEXT: DEFICIT HEADING TO ALL-TIME RECORD; 10-YR OUTLOOK SURPRISES
WASHINGTON (MaceNews) – The non-partisan Congressional Budget Office Wednesday updated its outlook for annual budget deficits, and while the impending record widening is no surprise, the tapering toward the end of the next decade was unexpected. The following is the CBO text of its summary of the budget update, with boldfaced emphasis added: • Deficits […]
STATUS CHECK: FOOD LINES AND GOVT INERTIA; VIRUS, STREET UNREST, JOBLESSNESS
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes: Life in these United States, another chapter. President Trump holds a news conference and defends his MAGA truck rally firing paint balls at Black Lives Matter protestors – “Paint is not bullets.” – […]
TRUMP SIGNS 4 EXEC ORDERS, DEFERRING PAYROLL TAX, EXTENDING EVICTIONS MORATORIUM
By Denny Gulino WASHINGTON (MaceNews) – Combining campaign promises with executive orders of questionable legality, President Trump Saturday said he is deferring payroll tax collections through the end of the year for pay of $100,00 or less and if re-elected, will “terminate” the tax. In his second televised appearance at his Bedminster, N.J. golf resort […]
WHITE HOUSE WATCH COMMENTARY: THE HAZARDS/OPPORTUNITIES OF RISING EXPECTATIONS
By Denny Gulino WASHINGTON (MaceNews) – This Juneteenth, things have really changed, with pollsters saying never before has U.S. public opinion changed so dramatically and so fast as in the 26 days since the gruesome killing of George Floyd. If only history showed that such turning points were typically the beginning of more easily achieved […]
Updating CBO’s Economic Forecast to Account for the Pandemic
WASHINGTON (MaceNews) – The following is the non-partisan Congressional Budget Office update text of pandemic-related economic assumptions posted Friday morning by CBO Director Philip Swagel: CBO expects that the economy will contract sharply during the second quarter of 2020 as a result of the continued disruption of commerce stemming from the spread of the novel […]
US JUNE BUDGET DEFICIT -$8 BLN; AFTER ADJUSTMENT, -$55 BLN
–Fiscal Year to Date Deficit -$747 Bln; Outlays/Receipts Records –No New Guidance on Debt Limit X-Date; Still Late Summer WASHINGTON (MaceNews) – The June U.S. budget deficit was only $8 billion – until adjustment for shifted benefit payments that boosted it to $55 billion, on the way to what the White House expects will be […]
FISCAL YTD US BUDGET DEFICIT $739 BLN, +39% VS FY 2018
WASHINGTON (MaceNews) – The U.S budget deficit in May of $207.8 billion at first glance is a record for any May and on second glance, after figuring in $55 billion in benefit payments shifted into the month because June 1 was a Saturday, it becomes a less scary$159 billion. The Treasury Department reported Wednesday that […]