Record-breaking NYC budget reverses controversial cuts
A $112.4 billion budget was agreed to on Friday by New York City mayor Eric Adams and the head of the city council. The agreement included $800 million more in spending than Adams’ most recent proposal in April. The two sides were able to avoid many controversial cuts to libraries, cultural institutions and early childhood […]
$111B NYC budget deal to reverse most of Eric Adams’ proposed cuts
Mayor Eric Adams and City Council Speaker Adrienne Adams reached a handshake deal on Friday on a more than $111 billion budget that would reverse most of the cuts the mayor has pushed through in recent months, sources familiar with the matter told The Washington Post. The two men, who have been at odds over […]
Bloodbath at Paramount as Studio Announces $500M in Cuts
Paramount plans to soon sell off part of its studios, cut $500 million in expenses, and begin cutting jobs. Paramount’s three co-CEOs — Brian Robbins, who runs the film studio, Chris McCarthy, who is in charge of Showtime and MTV, and George Cheeks, who oversees CBS — gathered about 500 employees on the campus on […]
Southwest cuts revenue outlook despite booming summer travel
Southwest Airlines, already under pressure from hedge funds after disappointing earnings, said Wednesday that a key profit margin will be lower than expected due to changes in how consumers book travel. The airline said it still expects second-quarter revenue to reach a record high. But Southwest said revenue per seat mile flown, a closely watched […]
Jho Low cuts $100M DOJ deal to forfeit Warhol, Monet paintings
A fugitive Malaysian tycoon who once partied with Leonardo DiCaprio, Paris Hilton and Usher has struck a $100 million deal with the federal government to settle two lawsuits alleging he used embezzled funds to buy luxury art. US authorities said Jho Lo, who is believed to now be living in China, agreed to hand over […]
Fed’s Bowman Sees No Cuts This Year, Warns of Possible Rate Hike
Bowman issues warning to rate cutters Market remains most underestimated risk Federal Reserve Rate Hikes. The Federal Funds futures market The Federal Reserve is almost certain to cut interest rates They see a 94% chance of at least one rate cut by the end of the year and a 65% chance of two cuts by […]
The City of Phoenix Is Pushing Back on Tax Cuts so It Can Keep Fleecing Taxpayers
Estimated Reading Time: 3 minutes The Arizona state General Fund is flooded with revenue. Latest projections show the state with $1.2 billion in ongoing revenue and a cash balance upwards of $6.5 billion in FY2024. This is by far the largest budget surplus in state history and doesn’t even include the $1 Billion stashed away […]
Fed’s Bowman sees no interest rate cuts this year
“The Craman Countdown” panelists Kate Moore and Joseph LaVorgna predict the Federal Reserve’s interest rate movements and yield curve normalization. Federal Reserve Governor Michelle Bowman said Tuesday that the central bank does not plan to cut interest rates before the end of the year and is prepared to raise rates again if inflation progress stalls. […]
Biden’s Migration Stalls Wages, Cuts Productivity
President Joe Biden’s immigration policies would slow American wage growth to just 1% per year by the early 2030s, according to analysts at the nonpartisan Congressional Budget Office. “The increased supply of workers will put downward pressure on wages, especially for those with 12 or fewer years of education,” the June 18 CBO said. reporttitled […]
Mike Pence group kicks off $10M campaign to keep Trump tax cuts
Former Vice President Mike Pence’s conservative advocacy group on Thursday launched a $10 million education campaign urging lawmakers to preserve tax cuts passed in 2017 under former President Donald Trump. Release to Promote American Freedom Policy Memo On Thursday, he called on lawmakers and the voters who elect them to preserve the Tax Cuts and […]