economy

Trump mulls higher US stimulus offer as Mnuchin downplays deal

Washington (AFP) - Lawmakers and the White House are unlikely to finalize a new stimulus plan before the November election, US Treasury Secretary Steven Mnuchin said Thursday, even as his boss President Donald Trump indicated he may raise his offer.But there were signs late in the day that the impasse might be easing, after Mnuchin said the administration would agree on a national testing plan Democrats have called for in the package to help ease the damage from the Covid-19 pandemic, according to an aide to House Speaker Nancy Pelosi.It was a small but potentially significant step after month...

Why Trump's war on immigrants is bad for the economy

In 2016 candidate Donald Trump kept his message simple. He was pro-economic growth but wanted immigration severely restricted. Late this week, as president, Trump declared he is "strongly considering" excluding illegal immigrants from all but sanctuary cities.

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Paul Krugman argues Alexandria Ocasio-Cortez helps show that most congressional Republicans are 'dumb as a rock'

While stipulating that he is somewhat "uneasy" about the extensive attention that Rep. Alexandria Ocasio-Cortez (D-NY) has received in her short time in office, economist Paul Krugman argued on Twitter Wednesday that her prominence has had myriad benefits for the national discourse.

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‘Trump ain’t gonna pay my rent’: Federal workers fume as government shutdown extends into Christmas

President Donald Trump’s decision to let the government shut down because Democrats refuse to fund his border wall has federal workers looking into January and beyond, fearing they won’t be able to pay their bills.

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Iowa machinist unloads on Trump after his factory shuts down before Christmas: ‘Another damned Trump lie’

Robert Morrison, a machinist who is about to lose his job at a Siemens factory in Burlington, Iowa, unloaded on President Donald Trump in a scalding op-ed in the Guardian on Friday.

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Here's how a government shutdown would hurt the American economy

President Donald Trump and Congress are once again on the verge of a partial federal government shutdown. If they fail to reach an agreement, it would be the third shutdown in two years.

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Tax hikes may take us to the brink of a stock market crash like 2008

The problem with the Fed hiking rates now is that Trump has already stressed the paychecks of most Americans. The rate hike will make matters worse.

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Robert Reich: Here's how to hold corporations accountable

Charles E. Wilson, the CEO of General Motors in the middle part of the last century, reputedly once said that “what was good for our country was good for General Motors, and vice versa.”

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Here's how the American cult of 'shareholder capitalism' is poisoning the global economy

It’s part of the American experience to find yourself in an elevator, in an airplane terminal, or at home, looking at a screen with stock numbers whizzing by, and people yammering about how America is somewhere on the spectrum between wonderful or about to disintegrate because of a 5 percent swing in Boeing or Microsoft stock. How did we get to a national economic conversation that is dominated by chatter on the rise and fall of stocks, when it’s just a small part of economic life for most of the 300 million people who live in this country?

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Democrats have imposed a neo-McCarthyite 'loyalty test' to advance corporate interests. Would a new political party save America from itself?

When it comes to criticizing the Democratic Party, nothing speaks like experience within the belly of the beast. Ralph Nader is living proof. After years of effectively pressuring congressional Democrats to protect consumers and the environment against corporate greed, he watched firsthand as the party bowed to the demands of Big Business during the Jimmy Carter administration.

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