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- Canada Goose Is Ensnared in Trump’s Tariff War With Canada
The United States is a key market for brands that manufacture jackets and parkas in Canada, such as Canada Goose and Moose Knuckles. [TheTopNews] Read More.4 hours ago - X-planes: Are they needed in the new era of drones?
Where do America's X-plane projects fit in an era of cheap drones? [TheTopNews] Read More.4 hours ago - ‘We’re all broke’: Would you chase a friend for £5?What's the smallest amount of money you would ask a friend to pay you back? [TheTopNews] Read More.4 hours ago
- Mortgage Rates Hit 7% as Iran War Fallout Crushes a Weak Housing MarketThe average rate on a 30-year mortgage in the United States jumped to 7.03 percent, putting pressure on housing affordability. [TheTopNews] Read More.4 hours ago
- Reducing the $2T federal deficit could lower inflation, interest rates for Ameri...
Curbing the federal government's roughly $2 trillion budget deficit would help reduce the affordability challenges American households are facing, a new analysis finds.The nonpartisan Committee for a Responsible Federal Budget (CRFB) published a report on Wednesday detailing how reducing the federal budget deficit over both the near- and long-term could improve affordability issues for Americans through fiscal policy changes involving tax and spending policies.CRFB finds that reducing the deficit can provide an affordability boost by tempering inflation, lowering interest rates, reducing cost pressures stemming from government policies, boosting private investment and preventing future affordability crises that could be caused by the insolvency of Social Security and Medicare."Fiscal policy alone cannot solve all affordability challenges," CRFB noted, adding that monetary policy, regulation, plus policies related to housing, trade, foreign, labor and education are also significant factors, including at the state and local level. "But responsible fiscal policy can play an important role."FEDERAL BUDGET DEFICIT REACHES $2T IN FIRST 11 MONTHS OF FISCAL YEAR 2026, CBO REPORTS"Conversely, expansionary fiscal policy – attempts to ease affordability concerns with subsidies, tax cuts, or spending measures financed by borrowed funds – is likely to worsen affordability challenges over time by boosting inflation, interest rates, and the cost of what is being subsidized," the group wrote.CRFB said that fiscal policies geared toward deficit reduction, such as higher taxes or limited federal spending and transfers from the government to households, reduce excessive consumer spending and inflationary pressures facing households.Reducing inflation, which has been above the Federal Reserve's 2% target for five-and-a-half years and is currently about 3.4% year over year, can also give the central bank room to lower short-term interest rates."Deficit reduction lowers interest rates through two channels. First, lower deficits reduce inflationary pressure and thus make it easier for the Federal Reserve to cut short-term interest rates (or reduce the need for the Fed to increase interest rates). Second, a lower stock of debt reduces the interest rates the Treasury needs to offer on long-term debt in order to attract buyers," the report said.US NATIONAL DEBT HITS $40 TRILLION MILESTONE FOR FIRST TIME EVERCRFB noted that the Congressional Budget Office (CBO) estimates that every 1 percentage point reduction in debt-to-GDP ratio lowers interest rates by about 2 basis points. That means current interest rates are about 1.5 percentage points higher than they would be if the U.S. debt-to-GDP ratio was still at 2001 levels and… [TheTopNews] Read More.5 hours ago - LARRY KUDLOW: Netanyahu’s barn burner of a speech makes the case for moral cla...Prime Minister Benjamin Netanyahu stood at the podium of the United Nations General Assembly hall and absolutely tore into all of the multiplying progenitors of antisemitism around the world. He jumped right in by calling out UN members that walked out ahead of his speech. "Before I begin, just a quick announcement. If there are any other moral cowards who haven’t yet left this hall, please do so now."By the way, a lot of moral cowards left, but a lot of people with moral backbones stayed and applauded Mr. Netanyahu on any number of occasions. Just as surprisingly, there were a lot of applause lines for President Trump the day before.It was a remarkable speech. He regards himself as the leader of world Jewry, and no one can deny him that platform. He has basically governed Israel for nearly 30 years. Through thick and thin. Through the wars and the massacres. And the labyrinths of domestic politics. Including his moving Israel into free-market prosperity, despite the constant attacks their people have suffered.I first met him about 30 years ago when he was finance minister, running for prime minister, and asked a number of us to help him develop free market policies. In a sense, though, all that is beside the point. Today, he stood up in the UN and blasted antisemitism. And he consistently praised Mr. Trump as his trusted partner. As he put it: "In this battle against the barbarians. We’ve had no greater partner than President Trump. I thank him. I thank him for his bold leadership. He boldly confronted an enormous danger to America, Israel and the world. Decades ago, he understood that if left unchallenged, the fanatic ayatollahs who chant Death to America, death to Israel would eventually carry out their mad fantasies. So Israel and America acted together not only to protect ourselves, but to save civilization."Having praised his friend Mr. Trump, he then proceeded to skewer his main enemy today, Mayor Zohran Mamdani. I don’t even want to paraphrase, so here’s the main quote: "So to all those spreading these lies about my country and about our brave soldiers, whether they sit in this hall or in the office of the anti-Semitic mayor of New York, I say this. Shame on you. Shame on you for distorting the facts. Shame on you for inverting victim and aggressor. Shame on you for spitting in the face… [TheTopNews] Read More.6 hours ago
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