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Tuesday, October 20, 2020
Government Trillion dollar deficits into the future

Trillion dollar deficits into the future

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

When President Donald Trump unveiled his latest budget proposal in February, he projected that he could reduce the deficits during the 10-year forecasting window and bring the budget into balance in about 15 years. Yet that was before Congress passed a $2.2 trillion relief package — by far the largest government spending measure in U.S. history — to try to limit the economic damage caused by the coronavirus. Now, economists are expecting the deficits to soar. Mark Zandi, the chief economist for Moody’s Analytics, is forecasting deficits of $2.5 trillion for both this budget year and next year’s. The Congressional Budget Office on March 30 released its analysis of Trump’s February budget plan. It found that the president’s spending and tax measures would produce a $1 trillion deficit this year, then pull the deficit below $1 trillion for four years before sending deficits back above $1 trillion for the rest of the decade. That is a much gloomier outlook than Trump had projected. Below is a look at the CBO’s estimate of the Trump budget and its baseline forecast for the next decade.

Latest News

City of Arlington Announces five finalists for police chief

The City of Arlington has named five finalists in its search for a new police chief in a search that began June...

National Democratic super PAC says it will double its spending to $12 million in battle for the Texas House

By Patrick Svitek, The Texas Tribune Oct. 20, 2020 "National Democratic super PAC says...

Texas joins Trump administration’s lawsuit against Google, arguing the tech company has a monopoly

By Stacy Fernández, The Texas Tribune Oct. 20, 2020 "Texas joins Trump administration's lawsuit...

Fort Worth bar receives TABC sanction

An effort by the Texas Alcoholic Beverage Commission to enforce the state’s COVID-19 health and safety protocols resulted in emergency orders to...

Tarrant County reports 6 COVID deaths on Tuesday

Tarrant County Public Health on Oct. 20 reported six COVID-19 deaths.The deceased include a man from Arlington in his 90s, a man...