Trump’s New Deficit-Exploding Budget

Ken AshfordEconomy & Jobs & Deficit, Trump & AdministrationLeave a Comment

WaPo: President Trump is releasing a $4.7 trillion budget plan Monday that stands as a sharp challenge to Congress and the Democrats trying to unseat him, the first act in a multi-front struggle that could consume Washington for the next 18 months. The budget proposal dramatically raises the possibility of another government shutdown in October, and Trump used to the … Read More

Amazon Not Going To NYC

Ken AshfordBreaking News, Economy & Jobs & DeficitLeave a Comment

BREAKING: Amazon says it has canceled plans to build a headquarters in NYC. pic.twitter.com/6BPPEE1MDF — MSNBC (@MSNBC) February 14, 2019 The online retailer faced opposition from some politicians, who were unhappy with the tax incentives Amazon was promised. No matter what you think of the decision, what’s fascinating about the Amazon news is what it says about 1. The surging … Read More

Cost Of The Government Shutdown: $3 Billion

Ken AshfordEconomy & Jobs & Deficit, Gubmint Shutdown, Trump & AdministrationLeave a Comment

The U.S. economy will likely never recover $3 billion lost during the five-week partial government shutdown, according to a report released by the Congressional Budget Office on Monday. The 35-day shutdown ― the longest such closure in U.S. history ― reportedly reduced GDP in the fourth quarter of 2018 by $3 billion and an additional estimated $8 billion in the … Read More

Government Shutdown Watch

Ken AshfordCongress, Economy & Jobs & Deficit, Immigration and Xenophobia, Trump & AdministrationLeave a Comment

Last night, the House passed a continuing resolution bill that included the $5 billion for a border wall, which Trump wanted. but the bill is DOA in the Senate and, we’re told, has no chance of passing. Trump is unchained. Mattis resigned yesterday after Trump’s decision, contra his advisers and, well, everyone, to pull out of Syria leaving a huge … Read More

More Plunging

Ken AshfordEconomy & Jobs & Deficit, Trump & AdministrationLeave a Comment

The Dow closed down 799 points on Tuesday after it appeared that there really was no China trade deal like Trump said. Yesterday, the market was closed due to Bush 41’s funeral (in which it became all about Trump, because as everyone eulogized Bush 41, it was obvious that these were things nobody would say at Trump’s funeral.) And do … Read More

So Much Winning

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

BREAKING: GM is slashing 14,700 factory and white collar jobs in North America; may close five factories. — The Associated Press (@AP) November 26, 2018 The jobs cut is about 15% of its workforce. In doing so, General Motors is killing multiple passenger cars, including the Chevrolet Volt and Chevrolet Cruze. GM will close the Oshawa Assembly in Ontario, Lordstown … Read More

Down Down Dow

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

Sorry about the blog being down for so long. It was the server and nothing I could do about it. And what has happened in the interim? Well, for starters, the Dow is down. Way down. After plummeting almost 300 points yesterday, the Dow is down over 400 so far this morning, and it is only 9:20 a.m. We are … Read More

Dow Down Again

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

After plunging 831 points yesterday….. UPDATE: 3:40 pm — Rebounded a bit.  Now down only 318 or so. Update #2: Dow closed down 545 points. That’s over 1400 down in two days. ¯\_(ツ)_/¯ pic.twitter.com/1jvxKGSqcb — JΞSŦΞR ✪ ΔCŦUΔL³³º¹ (@th3j35t3r) October 12, 2018

Crash, Boom

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

As a hurricane hits, this happens: Markets will close in 15 minutes after a daylong Wall Street bloodbath. pic.twitter.com/HyDhGQIjj1 — Jim Roberts (@nycjim) October 10, 2018 Why?  It’s the same story that has plagued markets for days now. Once-highflying tech has led markets lower as yields rise, with the 10-year Treasury note’s yield reaching its highest point in more than a … Read More

Deficit Doves

Ken AshfordClass Warfare, Corporate Greed, Economy & Jobs & Deficit, Occupy Wall StreetLeave a Comment

Remember when Republicans cared about the deficit?  No longer: The federal deficit hit $895 billion in the first 11 months of fiscal 2018, an increase of $222 billion, or 32 percent, over the same period the previous year, according to the Congressional Budget Office (CBO). The nonpartisan CBO reported that the central drivers of the increasing deficit were the Republican tax law … Read More

Trump, After Killing NAFTA, Strikes “Understanding” With Mexico If He Can Get Them On The Phone

Ken AshfordEconomy & Jobs & Deficit, Foreign Affairs, Trump & AdministrationLeave a Comment

What a disaster this President is .@FoxNews begins coverage of U.S.-Mexico Trade Agreement #USMTA TRUMP: I believe the President is on the phone. Enrique? (uncomfortable 10-sec pause) Err, you can hook him up, please. STAFF: Coming! TRUMP: You wanna, uh, put that on this phone, please? Hello? 🤦‍♀️ pic.twitter.com/carlPz1HMj — Bad Fox Graphics (@BadFoxGraphics) August 27, 2018 "Enrique?" pic.twitter.com/nH205gPOZs — … Read More