The U.S. budget deficit for fiscal year 2014 will be an estimated $506 billion, a slight increase from the $492 billion projected in April.
Puerto Rico's governor has signed the U.S. territory's first balanced budget in more than a decade amid an economic slump that has concerned U.S. investors.
Consumer sentiment dropped in October to its lowest level since the end of last year as consumers worried Congressional dysfunction would hurt growth.
President Obama said though the U.S. narrowly avoided a possible credit downgrade, partisan politics isn't the way to deal with fiscal differences. Fiscal Nightmare Averted...For Now: President Signs Debt Ceiling Legislation
Fitch Ratings put U.S. credit rating on ‘rating watch negative’ as Congress struggles to raise the debt ceiling ahead of the October 17 deadline.
Citigroup outlines the four most likely cases resulting from the squabbling in Congress over the nation’s funding and borrowing limit.
The deadlocked Congress is butting up against the debt ceiling deadline. But even the threat of a default could have big consequences.
Atlanta Fed chief Dennis Lockhart said the central bank will likely scale back its bond-buying program later this year if economic conditions match the Fed’s outlook.
Even as the stock market has cruised to record highs, high unemployment, political dysfunction and slow economic growth have curbed enthusiasm for the recovering U.S. economy. While it’s tough to argue that challenges don't still loom, focusing too much on those negatives can obscure a strong bullish case to be made in favor of what is still the world’s largest economy. Unlike crisis-ravaged Europe and credit-addicted China, the U.S. has at least five key characteristics that support its $15.7 trillion economy: record profits, leading innovation, resurgent energy production, stabilizing housing and banking markets and relatively favorable demographics. “If you’ve been pessimistic about the United States’ future and avoided investing in U.S. stocks, we think it’s time to reconsider. That’s especially true if you’re holding a large position in cash alternatives that’s providing little or no returns,” Wells Fargo Advisors wrote in a special report last week.
These 20 facts about the U.S. economy may leave you shaking your head. They were uncovered by FOX News researchers Mitchell S. Kweit, Steven Joachim, Mark Rigby, Bryan Murphy and Mark Bentley and obtained from government agencies that include the U.S. Treasury Dept., U.S. Census Bureau, the Bureau of Labor Statistics, the Social Security Administration, Congressional Research Service and the Federal Reserve.