Benefits for All or Just the Needy? Manchin’s Demand Focuses Debate

As Democrats ponder cutting a $3.5 trillion social safety net bill down to perhaps $2 trillion, a proposal to limit programs to the poor has rekindled a debate on the meaning of government itself. By Jonathan Weisman and Emily Cochrane WASHINGTON — Senator Joe Manchin III of West Virginia has

Republicans withhold support for US debt ceiling increase

WASHINGTON (AFP) – Republicans leaders in Congress on Tuesday (Sept 14) continued to withhold support for efforts by the Democratic majority to increase the United States debt ceiling. Treasury Secretary Janet Yellen warned last week that the government will run out of money next month unless lawmakers take action, and

The Week in Business: A Big Step for Infrastructure Spending

What’s Up? (Aug. 8-14) Infrastructure Bill Moves to the House The Senate approved a $1 trillion bipartisan infrastructure bill to rebuild roads and bridges and to fund broadband and climate resilience initiatives. The legislation includes several measures to help pay for it, including repurposing pandemic relief funds and tougher scrutiny

Opinion | How Worried Should You Be About Inflation?

This article is part of the Debatable newsletter. You can sign up here to receive it on Tuesdays and Thursdays. If you’ve had to scour the market lately for an affordable car or a new apartment lease, you may have noticed: Things are getting more expensive. Since June 2020, when

Democrats Push a Budget to Fulfill Biden’s Aggressive Economic Ambitions

WASHINGTON — The $3.5 trillion budget outline that Democrats unveiled in the Senate this week promises to reshape the government’s role in the economy, in ways President Biden and his party have called essential to rebuilding the American middle class, lifting people out of poverty and tackling the threat of

Rising Oil and Gas Prices Add to U.S. Economic Challenges

Experts say a period of costlier fuel is likely to be brief. But if consumers start to assume otherwise, it could mean problems for Biden and the Fed. By Ben Casselman and Clifford Krauss As the U.S. economy struggles to emerge from its pandemic-induced hibernation, consumers and businesses have encountered

IMF sees much stronger US growth, 2021 GDP up 7.0%

WASHINGTON (AFP) – The IMF is bullish on the US economic recovery, predicting growth will hit 7 per cent this year – much stronger than previously forecast and “the fastest pace in a generation,” the Fund said in a report on Thursday. The cheery analysis is a boon to President

Fed chief offers more assurances on US economy despite inflation

NEW YORK (AFP) – The US economy remains on a positive trajectory even as it contends with higher inflation, according to congressional testimony released on Monday (June 21) by the head of the Federal Reserve. Fed chair Jerome Powell, in prepared remarks ahead of a House hearing on Tuesday, reiterated

Opinion | The Tax Pirates Are Us

The decline of corporate taxation in recent decades is generally blamed on pirate states like Luxembourg, Ireland and Bermuda, which offer an alluring combination of very low tax rates and an unembarrassed enthusiasm for allowing companies to play make-believe. But the pirates have a silent partner: the United States. Generations

The Week in Business: A Ransom for Fuel

By Charlotte Cowles Good morning and happy Sunday. Here’s what you need to know in business and tech news for the week ahead. — Charlotte Cowles What’s Up? (May 9-15) Panic at the Pump A cyberattack on Colonial Pipeline, one of the biggest fuel arteries in the United States, pushed