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Congress must enact Trump's tariffs now to steer the U.S. away from a massive revenue cliff
MarketWatch· 2026-02-23 13:31
Core Viewpoint - Congress must enact Trump's tariffs to prevent a significant decline in federal revenue, with a decision deadline of less than 150 days [1] Group 1: Tariff Implications - The U.S. Supreme Court ruling on Trump's "liberation day" tariffs could potentially increase America's debt by $2.4 trillion, according to the Committee for a Responsible Federal Budget [1] - The ruling determined that President Trump exceeded his authority under the International Emergency Economic Powers Act of 1977 (IEEPA) when imposing tariffs [1] - Two of Trump's IEEPA orders are responsible for a substantial portion of recent federal tariff revenues, and losing these revenue streams would negatively impact the federal budget [1]
1.3 million people won't get paid if government shuts down, says PIMCO's Libby Cantrill
CNBC Television· 2025-09-30 18:58
Because when you hear shutdown, it's easy to assume that everything I mean the entire store is closed. Not the case. Let's welcome in Pimco's head of public policy, Libby Cantrill.Uh Libby, welcome. Um lot of 750,000 people, huge potential impact. But I do want to remind our audience that I think this is critical because a lot of people are scared.People get social security, they they use Medicare for healthcare. They're scared. Let's be very clear.During a quote shutdown, people still get social security. ...
X @The Wall Street Journal
The Wall Street Journal· 2025-06-29 20:53
Republicans are waving a $3.8 trillion magic wand over their tax-and-spending megabill, declaring that their extensions of expiring tax cuts have no effect on the federal budget https://t.co/6s9ZtLGJXl ...
Musk Promised $2T in Cuts. How Much Did DOGE Actually Save? | WSJ
The Wall Street Journal· 2025-05-30 01:22
- [Narrator] Elon Musk is officially done with the Department of Government Efficiency. - This is the chainsaw for bureaucracy. - [Narrator] After leading DOGE for only a few months, the billionaire CEO of Tesla is now no longer a special government employee.(Elon cheering) - [Narrator] His aggressive cost-cutting at DOGE, though, has left a big impact. - DOGE has created just an enormous amount of backlash. - [Narrator] DOGE dismantled entire agencies, canceled billions of dollars in contracts, and helped ...