Monday, April 21, 2025

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Fed Chair Sets Up Tariffs as Scapegoat as the Economy He Helped Create Leaks Air

(Mike Maharrey, Money Metals News Service) Federal Reserve Chairman Jerome Powell is living a charmed life. The pandemic gave him cover to keep the Fed’s Great Recession-era bubbles pumped up. Now, he can use tariffs as a scapegoat as the inevitable effects of the Fed’s reckless monetary malfeasance during...

IRS Agent Who Investigated Hunter Biden Expected to be Named IRS Acting Chief

(Headline USA)  An IRS whistleblower who testified publicly about investigations into Hunter Biden’s taxes is reportedly expected to be promoted to IRS acting commissioner. Gary Shapley, an IRS employee who testified to Congress as Republicans reviewed the business dealings of Joe Biden’s son, said he was retaliated against for cooperating...

Meta CEO Zuckerberg Considered Selling Instagram in 2018 Over Antitrust Worries

(Headline USA)  Meta CEO Mark Zuckerberg once considered separating Instagram from its parent company due to worries about antitrust litigation, according to an email shown Tuesday on the second day of an antitrust trial alleging Meta illegally monopolized the social media market. In the 2018 email, Zuckerberg wrote that he...

Budget Group Says the Actual Federal Debt is $158.6 trillion

(Casey Harper, The Center Square) As Americans file their taxes at the last minute this April 15, the federal debt – and Americans’ federal debt burden – continues to grow.  While the federal government reports a national debt nearing $37 trillion, one budget watchdog says the figure is actually much...

U.S. Government Runs Second-Largest Half-Year Deficit on Record

(Mike Maharrey, Money Metals News Service) The U.S. government ran the second-largest 6-month budget deficit in history through the first half of fiscal 2025. The March budget shortfall of $160.53 billion pushed the total deficit through the first half of the fiscal year to $1.31 trillion, according to the latest Treasury...

Planned Parenthood Spends Big for Democrats, Faces Cuts under GOP Control

(Casey Harper, The Center Square) Planned Parenthood's political donations to Republicans have plummeted in the past decade, leaving the nation’s largest abortion provider with few friends on the right as it faces funding cuts under the Trump administration. Planned Parenthood reports that about 34% of its funding comes from the federal government,...

‘Non-Negotiable’: Republican Budget Hawks Warn Johnson to Stand by Promises

(Thérèse Boudreaux, The Center Square) Following a nail-biter budget resolution vote in the House Thursday that unlocked the next steps in the budget reconciliation process, top Republican lawmakers are now faced with finding the promised spending cuts demanded by fiscal hawks. The passed budget resolution, initially proposed by the House...

Inflation Fell Last Month as Gas Prices Dropped Sharply amidst Looming Trade War

(Headline USA) U.S. inflation declined last month as the cost of gas, airline fares, and hotel rooms fell, a sign that price growth was cooling even as President Donald Trump ramped up his tariff threats. Consumer prices rose just 2.4% in March from a year earlier, the Labor Department said Thursday,...

$5.8 Trillion Budget Resolution One Step Away from Adoption

(Thérèse Boudreaux, The Center Square) Republicans in the House narrowly cleared a procedural hurdle to tee up a final vote on the Senate's amended budget. The House passed the first version of the budget in February, which extended President Donald Trump's tax cuts for ten years, and then sent it...

Recession Warning? Consumer Borrowing Tanked in February

(Mike Maharrey, Money Metals News Service) There is growing evidence that Americans may be edging close to the credit limit. That’s bad news for an economy that has run on credit cards for the last few years and adds to worries that the U.S. could be barreling toward a recession. After...

The Dow-to-Gold Ratio: Is the Bubble About to Pop?

(Mike Maharrey, Money Metals News Service) Stocks have taken a beating over the last several days. The conventional wisdom is that the sell-off is due to worries about the impact of the Trump tariffs. The aggressive tariff regime certainly triggered the sudden and sharp downturn in the stock market, but...

2 States Poised to be First Since 1980 to Eliminate Income Tax

(Headline USA) About 45 years have passed since a U.S. state last eliminated its income tax on wages and salaries. But with recent actions in Mississippi and Kentucky, two states now are on a path to do so, if their economies keep growing. The push to zero out the income tax...
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