The House Judiciary Committee has sent letters to over 40 American and foreign companies asking for documents related to what it claims are “collusive” activities as part of the Global Alliance for Responsible Media (GARM).Â
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The national debt surpassed $35 trillion on Monday for the first time in U.S. history as exorbitant federal spending continues under President Joe Biden.
Since Biden was inaugurated, the national debt has increased by over $7 trillion, from $27.7 trillion on January 20, 2021 to now over $35 trillion as of July 29, 2024. If the debt were to be divided among the roughly 258.3 million adults in the U.S., each adult would have roughly $135,500.
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The American job market has significantly downshifted as consumers, who drive the economy, are tapped out from the ongoing cost-of-living crisis under the Biden-Harris administration.
According to Friday’s employment report, only 115,000 jobs were created in July (67,000 using the more accurate household survey).
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The U.S. added 114,000 nonfarm payroll jobs in July as the unemployment rate ticked up to 4.3%, according to Bureau of Labor Statistics (BLS) data released Friday.
Economists anticipated that the country would add 175,000 jobs in July compared to the 206,000 added in initial estimates for June, and that the unemployment rate would remain stable at 4.1%, according to U.S. News and World Report. Federal Reserve Chairman Jerome Powell noted in a press conference on Wednesday that a continued slowdown in the labor market could be a sign of further softening in the economy and contribute to a possible cut to the federal funds rate and an easing in harsh credit conditions that have weighed on Americans.
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Based on data from a U.S. Treasury report, the federal government has amassed $142 trillion in debts, liabilities, and unfunded obligations. This staggering figure equals 93% of all the wealth Americans have accumulated since the nation’s founding, estimated by the Federal Reserve to be $152 trillion.
Unlike other measures of federal red ink that cover an arbitrary period, extend into the infinite future, or ignore government resources, the figure of $142 trillion applies strictly to Americans who are alive right now and includes the government’s commercial assets. Thus, it quantifies the financial burden that today’s Americans are leaving to their children and future generations.
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The devastation Hurricane Beryl left in its wake is estimated to cost taxpayers nationwide between $28 billion and $32 billion, according to an AccuWeather analysis. The losses to Texas, which was hardest hit, are estimated to be several billion.
Hurricane Beryl made landfall near Matagorda, Texas, on July 8 as a Category 1 storm. It then made its way northeast, fueling tornadoes in eastern Texas and western Louisiana, up into Arkansas and Missouri. The storm turned into a tropical rainstorm moving into the Midwest and New England, causing flooding, localized tornadoes and strong winds.
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If past performance is the best predictor of future performance, President Trump has proved his bona fides when it comes to fortifying American energy dominance.
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The Federal Reserve announced on Wednesday that it will not yet cut its benchmark federal funds rate in what is predicted to be the last in a streak of pauses as inflation and debt continues to cripple Americans.
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The Federal Reserve is expected to hold the bank’s key interest rate steady this week. Traders currently expect three rate cuts this year beginning in September.
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A Mississippi-based telecoms and technology company swiftly pulled its advertising from the 2024 Olympics after drag queens apparently mocked the Last Supper during the opening ceremony.
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