BUSINESS
The Trump tax cuts were neither panacea nor rip-off
The breaks are due to expire in 2025, making it an election-year issue. Whatever is decided, reversing the benefits given to businesses is the last thing lawmakers should do
BUSINESS
American consumers have everyone fooled — even the Fed
A major revision to government data on personal income and savings reveals consumers had $400 billion more in earnings since 2019 along with more prudent spending than previously reported. Crucially, the revisions confirm that the massive savings buffer households built up during the pandemic remains largely intact. This may explain why forecasts of recession have erred
BUSINESS
For US manufacturers, Bidenomics tops MAGAnomics every time
If America is committed to reviving its domestic manufacturing capacity, it requires direct construction-related incentives. It needs to expand the most impactful part of Bidenomics -- the CHIPS act -- rather than returning to the weak and economically costly tactic of raising tariffs
BUSINESS
Take Fitch's downgrade of the US seriously, not literally
The Treasury is on track to spend almost $1 trillion on interest payments alone in fiscal 2023, compared with less than $600 billion before the pandemic and around $425 billion in 2011 when S&P lowered its rating for the US from AAA to AA+
BUSINESS
Silicon Valley Bank Collapse: Insurance for all bank deposits is a manageable cost
There are those who are worried that a blanket guarantee will encourage risk taking. But it's becoming clear that any solution to the current crisis needs to include legislation providing comprehensive insurance to all retail banking deposits in the US
