Recession

OMB Director Russell Vought: If Trump’s bill fails, expect recession and 60% tax increase

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The White House is challenging the nonpartisan Congressional Budget Office’s assessment that President Donald Trump’s sweeping tax and spending package will raise the federal deficit by trillions of dollars throughout the next decade.

The national debt, currently $36.2 trillion, tracks what the U.S. owes its creditors, while the national deficit measures how much the federal government’s spending exceeds its revenues. So far, the federal government has spent more than $1 trillion more than it has collected this fiscal year, according to the Department of the Treasury.

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Some economic indicators point toward a recession, Colorado financial adviser analyzes

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There’s been a lot of uncertainty recently about whether or not the United States will soon enter a recession. But some indicators suggest that’s the direction we’re headed, according to Colorado financial adviser Bruce Allen.

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Trump says US will experience ‘period of transition’ when asked if economy could see a recession this year

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President Donald Trump declined to explicitly rule out a full-blown recession for the U.S. economy this year, telling Maria Bartiromo in a recent “Sunday Morning Futures” exclusive that the country will see a “period of transition” as his policies take effect.

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