Consumer Spending Weakens in April
Inflation, high interest rates, and the depletion of excess household savings may finally be starting to take a toll on the economy. Commerce Department data released on Friday showed consumer spending rose 0.2% in April, the smallest increase in three months. Economists had expected a 0.4% increase. The slowdown in the main driver of U.S. […]
Rangers spending far too much time in defensive zone
SUNRISE, Fla. — The Rangers played more defensively than they probably wanted in Game 5 of the Eastern Conference finals against the Panthers, but not as well as they had in the previous two games. The Blueshirts kept the puck on their sticks more often, so they weren’t under siege and were able to control […]
GDP grew just 1.3% last quarter, consumer spending weaker than expected
The U.S. economy grew at a sluggish 1.3% annualized rate in January-March, the slowest quarterly growth rate since spring 2022, the government said Thursday, revising down its previous forecast. Consumer spending increased but at a slower pace than previously expected, suggesting that high interest rates and lingering inflation are putting pressure on household finances. The […]
Q1 GDP revised down on lackluster consumer spending
Consumer spending is slowing, dragging down the economy. (iStock) of Second estimate According to the Bureau of Economic Analysis (BEA), the forecast for real gross domestic product (GDP) for the first quarter of 2024 has been revised downward due to a larger-than-expected decline in consumer spending. BEA’s second estimate showed real GDP grew at an […]
Credit card spending the leading reason why 78% of Americans have debt regret: survey
Credit card debt is always at the back of some Americans’ minds, according to a recent survey. (iStock) A majority of Americans are feeling financial regret, according to a recent survey, as personal debt rises to an all-time high. According to Debt.com, about 78% of people said they have financial regrets, with 21% saying their […]
Congress Guts Budget Rules and Misses Chance to Cut Spending
Republicans in Congress missed a huge opportunity to begin putting our country’s fiscal house in order. Inflation caused by runaway government spending and money printing was the top issue on the minds of voters in the November midterm elections. The Left’s reckless pursuit of these disastrous policies has been a boon for fiscally conservative politicians […]
U.S. Spending On Interest Tops National Defense, Medicare
Congress has spent more money on interest so far this year than it has spent on both national defense and Medicare. Spending on net interest hit $514 billion in the first seven months of fiscal year 2024. That’s more than spending on both national defense ($498 billion) and Medicare ($465 billion). Medicare is the federal […]
Target profits miss as inflation forces shoppers to cut spending
Inflation has been eating into Target’s profits, sending the company’s shares falling as much as 10 percent, as the “cheap chic” discount retailer revealed that customers are buying less groceries and discretionary items. The Minneapolis-based retailer reported a fourth quarter that fell short of Wall Street expectations on Wednesday. This was a further blow to […]
The Royals are reaping the benefits of an offseason spending spree
As I stated in my latest article on SB Nation’s Mothership, my personal rule of thumb when it comes to early season baseball standings is that it’s not worth stressing about the results until Memorial Day at the earliest. . That being said, that day is right around the corner, and there’s one story in […]
Democrats Brag About Rolling Mike Johnson in Spending Negotiations
House Speaker Mike Johnson (R-Louisiana) has given allocations to nearly all Democrats in exchange for votes on a $1.2 trillion spending bill that passed despite opposition from the House Republican majority. It has been reported. As Mr. Johnson and House Democratic Leader Hakeem Jeffries (D-N.Y.) Negotiated On two government funding bills, Democratic leaders secured major […]