US hits $38 trillion in gross national debt
The U.S. government's gross national debt has surpassed $38 trillion during the federal shutdown, marking a record high. This rapid debt accumulation is the fastest outside of the COVID-19 pandemic, with the debt having reached $37 trillion in August. The Treasury Department's latest report, issued Wednesday, highlights these figures. Experts warn that rising debt can lead to higher inflation, eroding purchasing power and increasing borrowing costs.
US economy shrank 0.5% between January and March
The U.S. economy shrank at a 0.5% annual pace from January through March as President Donald Trump’s import taxes at least temporarily disrupted business, the Commerce Department reported Thursday in a a downgrade from its previous estimate. First-quarter growth sank under a surge of imports as companies in the United States rushed to bring in foreign goods before Trump could impose tariffs on them. The Commerce Department previously estimated that the economy fell 0.2% in the first quarter. The January-March drop in gross domestic product — the nation’s output of goods and services — reversed a 2.4% increase in the last three months of 2024 and marked the first time in three years that the economy contracted.
Intuit, Owner of TurboTax, Wins Battle Against America’s Taxpayers
The successful IRS free tax filing program is being wound down, thanks in large part to Intuit’s copious spending in Washington.
Three Algorithms in a Room
A growing number of industries are using software to fix prices. Law enforcers are beginning to fight back.
War in the Aisles
Monopolies across the grocery supply chain squeeze consumers and small-business owners alike. Big Data will only entrench those dynamics further.
What AT&T and Verizon Knew About Toxic Lead Cables - The Journal. - WSJ Podcasts
For decades, telecom companies have known that lead in their networks posed risks to workers, and did little about it. Lead can cause a variety of ailments in adults, affecting the kidney, heart and reproductive systems, and it is classified as a probable human carcinogen. WSJ’s Shalini Ramachandran explains the danger of lead cables -- and what telephone companies knew. Further Reading: - America Is Wrapped in Miles of Toxic Lead Cables - What AT&T and Verizon Knew About Toxic Lead Cables - Workers Exposed to Toxic Lead Cables Wrestle With the Aftermath - How the Journal Investigated Hidden Lead Cables Circling the U.S. Further Listening: - Part 1: America Is Wrapped in Toxic Lead Cables
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