A Government Shutdown Could Be Coming. What Will Happen?

If Congress and the President don’t pass a budget, the US government shuts down. So what does that mean? President Donald Trump is threatening a shutdown if Congress doesn’t pass enough spending for the border wall along the Mexico border. America Uncovered relies on viewer…

Italy’s 5 Star Threatens To Ditch Coalition Over Budget Talks, Italian Bonds Slide

While the market turmoil over Italy’s budget has quieted down in recent weeks as a result of soothing words by the ruling coalition that it would comply with European demands, that snapped moments ago when DPA reported that the leader of Italy’s Five Star Movement…

Debt-Laden Canadians Struggling Amid Decade-High Monthly Payments

Canadians are spending more of their monthly budget on servicing debt, according to Bloomberg, hitting highs not seen since late 2008.  The household debt service ratio — a measure of the share of income that goes toward paying interest and principal on mortgage, credit card and other…

Congress looks to force Trump’s hand on government shutdown threats

Congressional leaders announced yesterday that they had reached a bipartisan deal on the budget that would fund most of the government for the year while including a continuing resolution to fund the rest of federal programs through December 7. The fiscal year ends September 30, and…

Top White House official thinks Senator Cruz could lose his seat

Budget chief Mick Mulvaney told a closed door meeting of GOP donors that it was possible, but not “likely” that Senator Ted Cruz could lose his re-election bid to Democrat Beto O’Rourke. Mulvaney cited Cruz’s lack of “likability” as a factor. CNN: “There’s a very…

“What’s Next, Air?” – NJ Dems Weighing Water Tax To Help Fix Pensions

With its reserve fund depleted, and its last-minute budget agreement featuring several unappetizing tax hikes on corporations and the wealthiest people living in the state (as well as taxes on e-cigarettes and Airbnb) New Jersey lawmakers and state officials are considering yet another tax –…

Make Or Break Time For Merkel: What To Look For In Today’s EU Summit

Migration, trade, Brexit and the EU budget – but mostly migration – will be the big talking points at today’s EU summit which kicks off in Brussels shortly and continues into Friday. As DB notes, there’s a laundry list of agenda points to get through…

New Jersey Governor Offers “Compromise” Budget As State Teeters On The Brink Of Shutdown

In his first budget showdown with intransigent lawmakers from his own party, New Jersey Governor (and Goldman Sachs alum) Phil Murphy has made a major concession on his budget plan in a last-minute attempt to work out a compromise that would avert a shutdown of…

In “Catastrophic” Scenario, CBO Projects US Debt/GDP Hitting 247%

The CBO released its latest long-term budget outlook today, and found that America’s financial situation continues to deteriorate. While there were not many notable variations from the last forecast, there were some notable differences. A quick summary of the latest financial situation: At 78% of…

Ron Paul: Here’s 21 Trillion Reasons To Question The Role Of Government In America

Via Ron Paul’s Facebook page, The U.S. military budget dwarfs every other country on the planet combined. Do you know how much the Pentagon spent between 1998 and 2015 that is “unaccounted for”? TWENTY-ONE TRILLION DOLLARS $21,000,000,000,000 Where did it go? No one knows…it’s “unaccounted…