Kentucky income tax cut passes House along party lines
Kentucky income tax cut passes House along party lines
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Motley FoolHow Much Will Social Security Benefits Rise In 2024? Here's What We Know
Social Security benefits typically rise every year thanks to the program's annual cost-of-living adjustment (COLA), which tries to ensure that retirees don't lose purchasing power due to inflation. This year, retirees got an 8.
- Fox Business
Bill Gates says 'China's rise' is a 'huge win for the world'
Bill Gates said that China's rise is a 'huge win for the world' during an interview in Australia earlier in the week, adding that the U.S. is in a politically weaker state than it has been.
- GOBankingRates
Manchin Proposes ‘Easiest’ Social Security Fix In Response to Debt Ceiling — Would Biden Agree?
On Jan. 19, the U.S. officially hit its debt ceiling, having spent all of the $31.4 trillion available for expenditures as allocated by the Treasury. In the days since, conversations have become...
- The Daily Beast
Fox’s ‘Straight News’ Anchor Harris Faulkner Lets Rick Scott Peddle His Medicare Lie
Fox NewsFox News anchor Harris Faulkner on Thursday allowed Sen. Rick Scott (R-FL) to repeatedly push the lie that Democrats slashed hundreds of billions of dollars in funding for Medicare—even though that spurious claim had been debunked months ago.In fact, not only did Faulkner—often labeled one of Fox’s “straight news” anchors—allow Scott’s falsehood to slide, she wondered how the Florida lawmaker would be able to work with Democrats since they’re “incapable of telling the truth.”With the GOP
- GOBankingRates
How 2023 Recession Will Differ From 2008 and How You Should Prepare Differently
The hyperinflation of the early 1980s provided a blueprint for the Fed's action today. To cool an overheated economy, the Fed raises interest rates and tightens the money supply. That causes economic...
- TheStreet.com
Billionaire Barry Sternlicht Thinks He Knows When Recession Will Hit
2023 is shaping up to be a rough year for Americans and Barry Sternlicht has a timeline for when a recession might reach our shores.
- GOBankingRates
Debt Ceiling: How the GOP’s ‘Fair’ Tax + Social Security Proposals Compare to Democrats’ ‘Easy’ Solution
As soon as America reached its debt ceiling on Jan. 19, exhausting the $31.4 trillion in its credit line from the Treasury, all eyes and ears turned to the country's financial future. Congress has...
- Fortune
The Great Resignation was fueled by workers’ obsession with flexibility. Big Tech layoffs have scared employees reprioritizing what they need
Layoff announcements are rattling U.S. workers' confidence in their ability to secure and retain employment.
- Fortune
Billionaire investor Ray Dalio says the U.S. debt limit is a ‘farce’ it ‘works like a bunch of alcoholics who write laws to enforce drinking limits’
While the Congress scrambles to reach an agreement on the debt ceiling, billionaire investor Ray Dalio writes that "there is no debt limit."
- The Fiscal Times
McCarthy Agrees Not to Cut Social Security, Medicare in Debt Talks, Manchin Says
Democratic Sen. Joe Manchin, the West Virginia centrist, played a key role in an evenly divided Senate over the last two years. Democrats may have gained a seat in the Senate, but Manchin appears to still be right in the middle of critical policy talks. While other Democrats have rejected the idea of negotiating with Republicans over raising the debt limit, Manchin has urged the White House to engage in talks, and on Wednesday the senator himself met with House Speaker Kevin McCarthy (R-CA) to d
- Fortune
The U.S. economy avoided a recession in 2022 because of ‘shockingly’ resilient consumers—but they’re just about spent
Experts weigh in on the latest GDP report. Was the fourth quarter the economy’s final hurrah?
- Reuters
U.S. Senator blocks bid to close EV tax window
Senator Debbie Stabenow thwarted a bid on Thursday by fellow Democrat Joe Manchin to pass a measure that would block some electric vehicles from receiving a $7,500 tax credit. The $430 billion U.S. Inflation Reduction Act passed in August restricts the $7,500 consumer tax credits to North American-made EVs and imposes new battery sourcing rules and again made General Motors and Tesla eligible for EV tax credits. The U.S. Treasury in December said it would not issue proposed guidance on battery sourcing rules until March, effectively giving some EVs not meeting new requirements a few months of eligibility in 2023 before the battery rules take effect.
- MoneyWise
Close to retirement and worried about your nest egg? Another Fed rate hike is expected next month and recession fears persist — but here's why soon-to-be retirees shouldn't panic
Don't wallow in fear — take advantage of it.
- The Hill
Rand Paul: GOP should give up ‘sacred cow’ and trim military spending
Sen. Rand Paul (R-Ky.) on Wednesday pushed Republicans against taking military spending off the table as the party looks for ways to tackle government funding in talks on how to address the debt limit this year. While speaking at a press conference on Wednesday afternoon, Paul framed the partisan battle over the nation’s debt limit…
- Quartz
Africa will outperform the world in economic growth, AfDB projects
In the inaugural release of a report dubbed ‘Africa’s Macroeconomic Performance and Outlook’ released on Jan.19, the African Development Bank Group reported that “growth across all five African regions was positive in 2022 and the outlook for 2023–24 is projected to be stable.”
- SmartAsset
I Want to Retire in Sweden. How Can I Make it Happen?
Sweden is one of the most sought-after countries in the world. It offers an excellent quality of life for retirees with beautiful landscapes and historic, walkable cities to enjoy. The archipelagoes on both the nation's East Coast and West Coast, … Continue reading → The post How to Retire in Sweden: Costs, Visas and More appeared first on SmartAsset Blog.
- SC Cloud | St. Cloud Times
Budget Day: How surplus spending will make Minnesota history
Coming up with a budget plan is more fun when a governor gets to increase spending and cut taxes, and a $17.6 billion surplus means Walz can do both.
- Statesman Journal
Gov. Tina Kotek outlines $130M funding package to reduce Oregon homelessness
On her first day as governor, Kotek signed three executive orders aimed at reducing the number of people experiencing homelessness in the state.
- MarketWatch
The party is over: The Fed and Congress have pulled their support from workers and investors
The air that cushioned the working class from the COVID pandemic is leaking away. The air that intoxicated the stock market, the bond market, the housing market, the crypto market, the SPACs, the NFTs and the memes is fizzling away. Wages are not keeping up with inflation, and the investing class is getting nervous and defensive.
- MarketWatch
Inflation rate slows again to 15-month low, PCE shows, as U.S. economy weakens
The cost of U.S. goods and services rose a scant 0.1% in December in yet another sign inflation is cooling off