https://www.rt.com/news/427601-us-coalition-strike-syria/
Breaking News,
At least four people have been killed and 15 injured in a suicide attack in the Iraqi capital of Baghdad, according to the local security services.
Goldman Sachs has warned that the growing US deficit could pose a significant threat to the country's economic security during the next recession.
The bank's chief economist Jan Hatzius forecast the federal deficit to increase from $825 billion (or 4.1 percent of gross domestic product) to $1.25 trillion (5.5 percent of GDP) by 2021. The number will balloon to $2.05 trillion (seven percent of GDP) over 10 years, he said.
“An expanding deficit and debt level is likely to put upward pressure on interest rates, expanding the deficit further,” said Hatzius. “While we do not believe that the US faces a risk to its ability to borrow or repay, the rising debt level could nevertheless have three consequences long before debt sustainability becomes a major obstacle.”
The Congressional Budget Office (CBO) said in April debt could equal GDP within a decade if Congress extends the tax cuts. That’s a level not seen since World War II.
According to CBO, economic growth should jump above three percent this year thanks to the stimuli. Nevertheless, debt held by the public will soar to $28.7 trillion by the end of fiscal 2028.
“Lawmakers might hesitate to approve fiscal stimulus in the next downturn in light of the already-substantial budget deficit,” said Hatzius. “While we would expect some additional loosening of fiscal policy during the next downturn, there is a good chance in our view that it would be less aggressive than it was in the last few recessions.”
Goldman analysts’ team explained that even if the debt and deficit levels don't prevent lawmakers from approving countercyclical fiscal stimulus during the next recession, a political desire to stabilize the debt level would likely hamper growth during the next recovery. “The current fiscal expansion … must at some point give way not just to a neutral stance, which we expect by 2020, but to a tightening of fiscal policy that could restrict growth,” Hatzius wrote.
https://www.rt.com/business/427491-goldman-us-fiscal-outlook/
Left leaning billionaire Michael Bloomberg says he would like to hike taxes on low-income citizens in his crusade against sugary drinks. He says it’s a “good thing for those people.”
Bloomberg says he wants to decide on what is good for low-income people. “The question is do you want to pander to those people? Or do you want to get them to live longer? There's just no question,” he said.
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US-LED STRIKE HITS GOVERNMENT TARGETS IN SYRIA – STATE MEDIA
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Raising taxes on poor is a 'good thing for those people' – billionaire Michael Bloomberg
Published time: 23 May, 2018 14:20Edited time: 23 May, 2018 14:42
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Former New York City mayor Michael Bloomberg at the US Open Championships tennis tournament in New York © AI Project / Reuters
Left leaning billionaire Michael Bloomberg says he would like to hike taxes on low-income citizens in his crusade against sugary drinks. He says it’s a “good thing for those people.”
Bloomberg says he wants to decide on what is good for low-income people. “The question is do you want to pander to those people? Or do you want to get them to live longer? There's just no question,” he said.
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“If you raise taxes on full sugary drinks, for example, they will drink less and there's just no question that full sugar drinks are one of the major contributors to obesity and obesity is one of the major contributors to heart disease and cancer and a variety of other things,” he said at the IMF discussion panel talking to the IMF Chief Chrisine Lagarde.
The billionaire went on to compare the US army with the coal industry. “We have a lot of soldiers in the United States in the US Army, but we don't want to go start a war just to give them something to do and that's exactly what you're saying when you say 'well, let's keep coal killing people because we don't want coal miners to lose their jobs.’”
“The truth of the matter is that there aren't very many coal miners left anyways and we can find other things for them to do. But the comparison is: a life or a job. Or, taxes or life? Which do you want to do? Take your poison.”
Bloomberg has been a fierce proponent of soda taxes. Last year, he spent $3 million on an advertising campaign that backs a Chicago-area soda tax. When he was a New York City mayor, he tried to ban super-sized sugary drinks in the city, but failed.
He has also criticized the recent tax cuts by US President Donald Trump. Bloomberg believes they are an “economically indefensible blunder” and will not lead to significantly higher wages and growth.
https://www.rt.com/business/427548-michael-bloomberg-tax-poor-people/
Humans don't come here.
Their heads are trapped in Trump's arse.
Turkey, Japan and Russia have calculated how much US tariffs would add to the cost of steel and aluminum exports to America, and submitted their claims to the World Trade Organization.
The countries followed similar moves by the European Union, India and China. Russia estimated that it would lose $538 million because of the US tariffs, which President Donald Trump imposed in March. Japan reported $440 million, while Turkey added a further $267 million.
Earlier, China, the EU and India estimated their losses at $612 million, $1.6 billion and $165 million respectively. The countries that have turned to the WTO say the tariffs – 25 percent on steel and 10 percent on aluminium – cannot be explained by the US security concerns, the issue on which Washington is basing its actions.
Under WTO rules, if any country seeks to cut its imports, thus protecting local producers, it should compensate its trade partners with a net increase in imports of other goods. Washington has refused to do so. Japan and Russia have not provided the details on retaliation, but Turkey has said it would target 22 American goods, ranging from nuts, rice and tobacco to cars and steel products.
Those days are long over. The world doesn't need nor want the USA anymore. You are only fooling yourself.
When the dollar tanks. Remember you said that.