Should Donald Trump hamstring the U.S. economy, rip off the consumer, despoil the landscape, give succour to America’s enemies and promote junk science – all in order to keep a “seat at the table” with people who despise him and think he’s an idiot?
To some people – including several senior members of the Trump administration – the answer isn’t immediately obvious. Which is why this week both a leading U.S. scientist and a number of top Senate Republicans have had to urge the president to see sense and ignore the siren voices urging him to stay in the UN’s Paris climate agreement.
The 20 top Republicans, led by Majority Leader Mitch McConnell, R-Ky., have signed a letter warning the president that remaining in Paris “would subject the United States Find Out More…
Thousands of people have dropped off the food stamp rolls in Georgia as a result of the state implementing work requirements for food stamp recipients.
More than half of the 11,779 people enrolled for food stamps in 21 counties, an estimated 7,251 people, have dropped out of the food stamp program—a drop of 62 percent, the Atlanta Journal-Constitution reported.
Georgia first rolled out its work requirements for the food stamp program in three counties in January 2016. Since then, the state has expanded work requirements in an additional 21 counties, giving people in those 21 counties until April 1, 2017 to find a job or lose food stamp benefits.
Those who receive benefits must work at least 20 hours a week, be enrolled in state-approved job Find Out More…
Thursday during his commencement speech at Harvard, Facebook CEO Mark Zuckerberg called for a “new social contract” with a “universal basic income.”
Zuckerberg said, “Every generation expands its definition of equality. Previous generations fought for the vote and civil rights, they had the New Deal and the Great Society. And now it’s time for our generation to define a new social contract. We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful.”
“We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas,” he continued. “We’re all going to change Find Out More…
The Trump administration’s first budget would shutter the fifty year old Minority Business Development Agency (MBDA).
The MBDA hands out grants and runs federally funded “management consulting operations” around the country. It has long been targeted by conservatives as a form of corporate welfare.
The agency has also been criticized for encouraging a “flight from white.” Since it offers aid only to business owned by officially recognized minorities, it creates an incentive for Americans to seek to have themselves recognized as non-white minorities. In 1977, Americans Indians successfully had their classification changed from white to Asian. More recently, some Americans of Middle Eastern descent have been lobbying to be recognized as minorities as well.
Larry Summers is now worried that the United States might start exporting natural gas to China.
The former Treasury Secretary has attacked a trade deal reached earlier this month between the United States and China as something “a serious administration committed to helping American workers would likely not have accepted and surely would not have hyped.”
That’s a powerful accusation to level against an administration elected on an America First platform. Fortunately, there’s little evidence to back up the allegation.
The most substantive objection Summers raises has to do with the part of the deal which will allow U.S. to export liquified natural gas to China.
“To at least a small extent that would mean higher heating costs for American consumers and higher energy costs for U.S. Find Out More…
Leading left-leaning economists, economics journalists and other so-called experts are skeptical over President Trump’s budget proposal, which ambitiously seeks to reach an economic annual growth rate of three percent by 2021.
Harvard Professor and former Treasury Secretary Larry Summers suggested that Trump’s budget proposal is preposterous.
Apparently, the budget forecasts that U.S. economic growth will rise to 3.0 percent because of the administration’s policies — largely its tax cuts and perhaps also its regulatory policies. Fair enough if you believe in tooth fairies and ludicrous supply-side economics.
Summers also wrote that the budget would justify “failing a student in an introductory economics course.”
Former Office of Management and Budget Director Jim Nussle told CNBC on Tuesday that Trump’s budget is unlikely to reach its intended goal Find Out More…
Bank of America has warned that America’s next social justice movement will be “Occupy Silicon Valley,” which will demand a redistribution of wealth from liberal tech moguls to workers.
With large cap tech stocks that are mostly headquartered in Silicon Valley accounting for about 40 percent of all market gains from the Trump stock boom, Bank of America Merrill Lynch’s Chief Investment Strategist Michael Hartnett suggests that the irrational bonanza “could ultimately lead to populist calls for redistribution of the increasingly concentrated wealth of Silicon Valley,” as first reported by the Value Walk blog.
B of A sees parallels to the “Occupy Wall Street” protests in 2011 that targeted the “one percent,” including big banks that were bailed and given cheap federal loans during Find Out More…
President Donald Trump’s budget proposal forecasts that the administration’s policies will accelerate the American economy into an era of 3 percent growth for as far as the eye can see. That’s unleashed a torrent of criticism from mainstream economists who can’t stand the idea that Trump could grow the economy at such as fast pace.
According to the budget documents released by the White House Tuesday, the U.S. gross domestic product will reach an annual growth rate of 3% by 2021 and then cotinue growing at that pace. This economic acceleration is the key to the Trump administration’s plans to cut taxes while also reducing the budget deficit.
“Everything is keyed to getting us back to 3 percent,” White House budget director Mick Mulvaney Find Out More…