Deficit

Treasury Secretary Steven Mnuchin said the Trump administration will have a proposed tax plan completed by August. Based on campaign promises, its broad outlines will include a substantial cut to corporate taxes and perhaps reductions in individual taxes. Whatever the details, the plan will almost certainly blow up the federal deficit, and that has big […]

The U.S.-Mexico trade relationship gets talked about by the president as if we’re being scammed. He implies that because the United States has a trade deficit with its southern neighbor, we’re just pouring money over the border. But most economists say the trade deficit with Mexico is not a problem, and, in fact, that it’s […]

The Congressional Budget Office says this is the first such increase since 2009.

On Friday, Ireland is voting to abolish one of the houses of the country's parliament. Supporters say the move is a cost-cutting measure as well.