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Friday, November 15, 2024

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‘Uncharted Territory:’ U.S. Debt Will Be Nearly Double GDP by 2052, Feds Say

(The Center Square) Federal debt will nearly double the nation’s Gross Domestic Product by 2052 if it continues on its current trajectory, the U.S. Congressional Budget Office says in its economic and debt forecast released Wednesday. U.S federal debt surpassed $30 trillion in February, and the most recent GDP data...

Record Inflation Sends Calif. Minimum Wage to $15.50 in 2023

(Madison Hirneisen, The Center Square) Rising inflation will push California’s minimum wage to $15.50 for all employers starting Jan. 1, 2023, the state’s Department of Finance announced Wednesday. California increased its minimum wage to $15 an hour on Jan. 1, 2022 for employers with 26 or more workers and was...

Nearly Half of Manchin’s $739B Spending ‘Compromise’ to Be Funneled into Green Agenda

(Headline USA) What started as a $4 trillion effort during President Joe Biden's first months in office to boost human "infrastructure" and public-entitlement spending has ended up a much slimmer, but not unsubstantial, "compromise" package that includes Democrat wish-list items related to healthcare, pharmaceuticals and the radical green agenda. Although...

Senate Passes $280B Bill for U.S. Semiconductor Subsidy

(Headline USA) A bill designed to encourage more semiconductor companies to build chip plants in the United States passed the Senate on Wednesday as lawmakers raced to finish work on a key priority of the Biden administration and secure some semblance of a win for Democrats floundering at the...

Fed Issues Another Major Rate Hike as Powell Parrots Biden Admin’s Recession Denials

(Headline USA) The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation, which has run rampant under the misguided policies of the Biden administration. The Fed’s...

Woke, Leftist Facebook Parent Meta’s Revenue Tanks

(Headline USA) Facebook and Instagram's parent company Meta posted its first revenue decline in history Thursday, dragged by a drop in ad spending as the economy falters — and as competition from rival TikTok intensifies. The company's stock dropped slightly in after-hours trading following the results, suggesting Wall Street was...

Globalist Rockefeller Foundation Plans to Dedicate All Its Resources to Green Agenda

(Headline USA) The Rockefeller Foundation---a far-left "philanthropy" created more than a century ago to help inheritors in one of the world's wealthiest families shelter their assets---may be pushing for an even bigger power-grab than when the family patriarch once held a monopoly on the U.S. oil industry. The globalist organization...

Could Facebook’s TikTok-Like Redesign Be the End of Social Media?

(Jacob Bruns, Headline USA) Social Media as we know it may be over as Facebook moves towards a TikTok-like model, Axios reported. No longer will the famous social network simply show you the posts of your friends---a model that founder Mark Zuckerberg perfected in 2004 from earlier prototypes like Friendster...

REPORT: Inflation Is Hammering Rural America

(The Center Square) A report from Iowa State University shows that rural Americans are feeling the pain of inflation more than the rest of the country. “Rural households are more vulnerable to inflation,” the report said. “In 2020, rural household post‐tax incomes stood at $58,012. About 82% of rural incomes...

Janet Yellen Argues US Economy Not ‘Technically’ Headed for Recession

(Molly Bruns, Headline USA) Treasury Secretary Janet Yellen said in an interview that the U.S. economy may not necessarily be headed for a recession even if the gross domestic product experiences two consecutive quarters of decline. On NBC's "Meet the Press," Yellen acknowledged that most economists define a recession as...

Ford Laying Off Much of Salaried Staff to Pay for EV Transition

(Headline USA) Less than two months after announcing it would apply $134 million of taxpayer dollars for retooling two Michigan plants, news reports this week surfaced that revealed Ford Motor Company would lay off approximately 8,000 salary workers. According to The Center Square, the job cuts are part of the automaker’s effort...

Youngkin: $2 Billion Surplus Sign Virginia Taxes too High

(Headline USA) Virginia recorded a budget surplus of nearly $2 billion at the close of the fiscal year, which Gov. Glenn Youngkin believes is a sign taxpayers are forced to give too much money to the government. “While I am pleased that our additional revenue can be reinvested in Virginia,...
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