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3 days ago | 
thefiscaltimes.com | Yuval Rosenberg |Michael Rainey
By Yuval Rosenberg and Michael RaineyHappy Wednesday! President Trump on Wednesday wrapped up a relatively chummy NATO summit in the Netherlands, where most U.S. allies agreed to a goal, set by the president, of spending 5% of their gross domestic product on defense. "I came here because it was something I'm supposed to be doing, but I left here a little bit differently," Trump said. "I left here saying that these people really love their countries. It's not a ripoff.
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5 days ago | 
thefiscaltimes.com | Yuval Rosenberg |Michael Rainey
By Yuval Rosenberg and Michael RaineyGood evening. President Donald Trump just announced a ceasefire between Israel and Iran that he said he hopes will become permanent. That news comes after Iran launched a missile attack on the Al Udeid Air Base in Qatar, the largest American military installation in the Middle East. The attack, retaliation for the U.S. bombing of three Iranian nuclear sites over the weekend, was thwarted by air defense systems, officials said. No casualties were reported.
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1 week ago | 
thefiscaltimes.com | Michael Rainey
The combined Social Security trust funds are expected to be depleted by 2034, one year earlier than projected a year ago, according to a new report from the program’s trustees. At that time, the funds would be able to cover just 81% of obligations.
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1 week ago | 
thefiscaltimes.com | Michael Rainey
By Michael RaineyThe sweeping Republican tax-and-spending bill that would deliver on much of President Donald Trump's agenda would increase deficits by about $2.8 trillion over 10 years, once its economic effects are taken into account, the Congressional Budget Office announced Tuesday.
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1 week ago | 
thefiscaltimes.com | Yuval Rosenberg |Michael Rainey
By Yuval Rosenberg and Michael RaineyGood evening! On this date 95 years ago, President Herbert Hoover signed the Smoot-Hawley Tariff Act, raising tariffs on thousands of imported goods in a bid to protect domestic jobs and manufacturing. The law backfired as U.S. trading partners enacted retaliatory tariffs, reducing American exports and deepening the Great Depression, which had started in October 1929. Here's what's happening today.
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1 week ago | 
thefiscaltimes.com | Michael Rainey
Attending the Group of Seven meeting Monday in Alberta, Canada, President Trump faced questions about the lack of progress in his effort to reach new trade agreements with much of the world, including the host nation. Asked what is holding up the agreement with Canada as he stood with Canadian Prime Minister Mark Carney, Trump said the leaders had different “concepts” about tariffs and trade.
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1 week ago | 
thefiscaltimes.com | Yuval Rosenberg |Michael Rainey
By Yuval Rosenberg and Michael RaineyHappy Monday! On this date 10 years ago, Donald Trump famously descended the golden escalator at his eponymous tower in New York to announce he was running for president, launching a political rise - and a major reshaping of American politics - that few if any foresaw. Today, Trump met with other G7 leaders in Alberta, Canada, and his sons announced a new mobile phone service.
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2 weeks ago | 
thefiscaltimes.com | Michael Rainey
By Michael RaineyThe Congressional Budget Office estimates that the Republican reconciliation bill currently under consideration in the Senate will add nearly $3 trillion to the national debt over the next 10 years, with $2.4 trillion of that total coming from the bill’s provisions and the rest from the added cost of interest payments on the growing national debt.
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2 weeks ago | 
thefiscaltimes.com | Michael Rainey
The massive reconciliation bill bearing much of President Trump's economic agenda would reward upper-income households while hurting low-income ones, the Congressional Budget Office said Thursday in a new analysis. The bill passed the House in May and is currently under consideration in the Senate. In response to a request by Democratic lawmakers, the CBO analyzed how the bill would affect people at different income levels.
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2 weeks ago | 
thefiscaltimes.com | Yuval Rosenberg |Michael Rainey
By Yuval Rosenberg and Michael RaineyGood evening. Here's what we were watching today while enjoying the image of the pope wearing a White Sox cap. House Republicans on Thursday narrowly passed a White House request to claw back $9.4 billion in approved funding for foreign aid and public broadcasting. The 214-212 vote saw four Republicans join with Democrats in opposing the legislation, which now heads to the Senate. Two Republicans who initially voted against the bill, Reps.
