California Governor Gavin Newsom (D) announced a revised budget plan to address the state’s $32 billion deficit. Since January, the state’s deficit has grown by $10 billion, as reported by the AP. While the state’s budget is balanced this year, in the coming years the state is committed to spending more money than it will
Trump Vetoes Bill Restricting Fishing Off California’s Coast Citing Trade Deficit Concerns
January 2, 2021 by
President Donald Trump vetoed a bill that would have ended large-mesh drift gillnet use in federal waters off the Californian coast Friday, stating that such legislation would increase seafood-imports dependence, worsening a multibillion-dollar seafood trade deficit. “By forcing the West Coast drift gillnet fishery to use alternative gear that has not been proven to be…
US, China tentatively agree on ending American trade deficit: White House.
May 19, 2018 by
United States and China officials have agreed this weekend to take steps to reduce the U.S. trade deficit, the White House said Saturday. The agreement between the world’s two biggest economies was made this week in Washington by high-level negotiators from both countries, including Treasury Secretary Steven Mnuchin. “There was a consensus on taking effective […]
Record exports cut US trade deficit to $49 billion.
May 6, 2018 by
WASHINGTON (AP) — Record exports trimmed the U.S. trade deficit in March, the first drop in seven months in a massive gap that President Donald Trump is determined to shrink with an aggressive America first policy. The Commerce Department says the trade deficit — the difference between what America sells and what it buys in […]
U.S. Trade Deficit with China Has Eliminated at Least 3.4M American Jobs.
April 6, 2018 by
The United States’ trade deficit with China has eliminated at least 3.5 million American jobs since 2001, data reveals. As President Trump is set to release a package of $50 billion worth of tariffs and restrictions on Chinese investments, the U.S. goods trade deficit with China remains at $29.3 billion. Since 2001, free trade with […]
Obama’s Real Debt and Deficit Legacy.
February 20, 2018 by
Congressional Republicans have been raked over the coals in the last two weeks for slamming through budget caps and inflating government spending and debt by another $300 billion. The criticisms are well-deserved. It’s a historical truism that Republicans are much more fiscally conscientious when they are in the minority than when they run Congress. And […]
In Beijing Trump BLASTS Previous Administrations for $347 Billion Trade Deficit with China (VIDEO)
November 9, 2017 by
Trump BLASTS Previous Administrations for Screwing US Workers The U.S. trade deficit with China was $347 billion in 2016. The trade deficit exists because U.S. exports to China were only $116 billion while imports from China were $463 billion — via The Balance. On Thursday President Trump told a Beijing audience, “I don’t blame China!” for the massive US trade deficit with the economic giant. In […]
Feds Collect Record Income and Payroll Taxes Through March–Still Run $526,855,000,000 Deficit.
April 14, 2017 by
The federal government collected record amounts of both individual income taxes and payroll taxes through the first six months of fiscal 2017 (Oct. 1, 2016 through the end of March), according to the Monthly Treasury Statement. Through March, the federal government collected approximately $695,391,000,000 in individual income taxes. That is about $7,387,280,000 more than the […]
President Trump is Dramatically Cutting US Trade Deficit to China
April 5, 2017 by
Love him or hate him, President Donald Trump is holding true to his word and dramatically reducing the U.S. trade deficit to China. In February, the trade deficit to China fell by a record amount and American exports increased for a thrid straight month, according to ABC News. The deficit fell to $43.6 billion, 9.6 percent […]
$1.48 Trillion: Government Collects Record-High Taxes in First Half of FY 2016, Still Runs $461 Billion Deficit
April 13, 2016 by
Inflation-adjusted federal tax revenues hit a record $1.48 trillion for the first half of fiscal year 2016, but the federal government still ran a $461 billion deficit during that time, according to the latest monthly Treasury Department statement. Treasury receipts include tax revenue from individual income taxes, corporate income taxes, social insurance and retirement taxes, unemployment […]
Obama Threatens to Veto Bill to Reduce Deficit, Cut Planned Parenthood Funding and Reverse Much of Obamacare
December 2, 2015 by
President Barack Obama has announced that he will veto a bill pending in the Senate that would defund and reverse parts of Obamacare, including money for Planned Parenthood, and reduce deficits by $130 billion over 10 years. “This legislation is being considered by the Senate just days ahead of the December 15 deadline for Marketplace […]
$3,248,723,000,000: Federal Taxes Set Record in FY 2015; $21,833 Per Worker; Feds Still Run $438.9B Deficit
October 16, 2015 by
(CNSNews.com) – The federal government took in a record of approximately $3,248,723,000,000 in taxes in fiscal 2015 (which ended on Sept. 30), according to the Monthly Treasury Statement released today. That equaled approximately $21,833 for every person in the country who had either a full-time or part-time job in September. It is also up about […]
$2,446,920,000,000: Federal Taxes Set Record Through June; $16,451 Per U.S. Worker—Feds Still Run $313B Deficit
July 14, 2015 by
The federal government raked in a record of approximately $2,446,920,000,000 in tax revenues through the first nine months of fiscal 2015 (Oct. 1, 2014 through the end of June), according to the Monthly Treasury Statement released today. That equaled approximately $16,451 for every person in the country who had either a full-time or part-time job […]