Big worry for Trump: U.S. budget deficit explodes in February, surpassing $1 trillion in record-breaking year-to-date surge, raising concerns over unprecedented fiscal challenges

The US budget deficit surpassed $1 trillion in just five months, with February's deficit reaching $307 billion. Government spending continues to exceed revenue, with a $1.15 trillion deficit for the ... Read More

What is a recession, and is the U.S. economy heading for one? Here's what economists say.

Consumers, businesses and investors are increasingly jittery about the risks of a protracted slump. So what exactly is a recession? Read More

Trump wants to abolish IRS after tariff revenues make ‘whole economy explode,’ new Commerce secretary Howard Lutnick reveals

“And there goes our deficit. And interest rates come smashing down, and the whole economy explodes higher ... In Wednesday’s interview with Fox News host Jesse Watters, Lutnick also ... Read More

U.S. economy grows 2.3% in last quarter, latest GDP data shows

The American economy ended 2024 on a solid note with consumer spending continuing to drive growth. The Commerce Department reported Thursday that gross domestic product — the economy's output of ... Read More

Commerce secretary shares Trump's 'goal' to abolish the IRS

"And there goes our deficit ... and the whole economy explodes higher." TRUMP'S TREASURY SECRETARY SHUTS DOWN ANY TARIFF CONCERNS, PRAISES ‘FRICTIONLESS GLOBAL TRADE’ U.S. Commerce Secretary ... Read More

The Countries Driving America’s $1.2 Trillion Trade Deficit in Goods

The U.S. imported $1.2 trillion more in goods in 2024 than it exported, a record annual deficit and a major economic irritant for President Trump. On Feb. 13, the president announced that his ... Read More