U.S. healthcare spending soared by about $933.5 billion between 1996 and 2013. In 2013, healthcare spending hit $2.1 trillion, and today, is likely at $3.2 trillion, which equates to 18% of the entire U.S. economy. The U.S. now spends more on healthcare than any other country in the world. Even after adjusting for inflation, the (more…)
Despite claims otherwise, the Trump tax proposal is again being criticized for disproportionately helping the wealthy while the middle class will receive less-than-promised, according to a new analysis released on Monday. People earning more than $730,000 a year would get an average cut of more than $37,000, according to the Tax Policy Center. This would (more…)
Despite promises to do otherwise during the campaign and tough Trump trade talk during the trip, the U.S. Japan trade deficit will likely remain intact in the near future.
A new addition to the Trump tax plan may end up pushing middle-class Americans into higher tax brackets faster than before, resulting in tax increases at a faster-than-expected rate for those in those same people.
Home Buyers in 92% of Metro Areas See Home Prices Rising in Q3 Home prices are continuing to become expensive in the most urban parts of the country. Home buyers in 92% of America’s biggest metro areas witnessed home prices rising during the third quarter of 2017, according to the latest report by the National (more…)
Despite the recent run of good news for the stock market, Tuesday saw many U.S. stocks come crashing down, showing big losses in a single day, and the U.S. stock market drop, harming the greenback. Some of the biggest losers on the day include Chipotle Mexican Grill, Inc. (NYSE:CMG) and Advanced Micro Devices, Inc. (NASDAQ:AMD), both (more…)
Mortgage Debt Biggest Contributor to Overall American Debt Despite feeling burdened, Americans are continuing to rake in more and more debt. American debt has soared to Great Recession levels this year, hitting a whopping $13.0 trillion. While not every single American may be in debt, the majority is. The latest study carried out by GoBankingRates has (more…)
The shift to restaurant jobs vs manufacturing jobs represents a new American economy, one that may ultimately weaken the middle-class. President Donald Trump ran his campaign on a promise to “Make American Great Again.” Embedded in that catchphrase was the veneration of an old America, one where the country made things. Trump extolled the virtues (more…)
Moody’s Finds One-Third of U.S. States Unprepared for Recession Not all U.S. states are in a shape to deal with a recessions. Ratings agency Moody’s Corporation has found that about one-third of U.S. states do not have the ability to withstand recessionary pressures. Louisiana, North Dakota, and Oklahoma top the list of U.S. states unprepared for recession. Analysts (more…)
California Facing a Housing Shortage as Wildfires Burn Down Thousands of Homes Californians are facing a housing shortage as the state deals with a historic catastrophe. The California wildfires have already burnt down thousands of houses in Northern California, and despite firefighters making significant progress over the weekend, the fires are still continuing to force (more…)