How Climate Change Could Upend the American Dream
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Americans have long accumulated wealth by owning their homes, but a new study predicts that spiking insurance rates and climate disasters now herald an era of widespread losses.
economy
How DOGE’s Cuts to the IRS Threaten to Cost More Than DOGE Will Ever Save
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The Trump administration claims gutting federal agencies will save money, but cutting the IRS means the government collects less taxes. “If you’re interested in the deficit and curbing it, why would you cut back on the revenue side?” one expert asks.
https://www.propublica.org/article/how-doge-irs-cuts-will-cost-more-than-savings-trump-musk-deficit?utm_source=mastodon&utm_medium=social&utm_campaign=mastodon-post
#News #DOGE #Trump #IRS #Federal #Government #Economy #USPolitics
A bank created fake accounts, forced clients into unnecessary car insurance and repossessed vehicles when they didn’t pay. Now it has agreed to $20 million in penalties. https://www.bocvip.com/521954/a-bank-created-fake-accounts-forced-clients-into-unnecessary-car-insurance-and-repossessed-vehicles-when-they-didnt-pay-now-it-has-agreed-to-20-million-in-penalties/ #Bonds #business #CurrentTrends #economy #Investment #IPOs #predictions #stocks
"You get more conservative when you get older" only really worked for the generations that got RICHER as they got older.
The real truth was always just "You get more selfish the more money you have".
#conservative #conservatives #conservatism #economics #economy #politics
The Atlanta Federal Reserve Bank's GDP Now is estimating 2.8% GDP decline in the 1st quarter of 2025 and the 1st month of Trump's presidency.
I'm not a GDP growth at all costs person--I believe we have no choice but to stop the mad obsession with making that number go up--but I do think it's important to note that GDP was growing relatively rapidly (by modern standards) through the end of 2024. This change marks a significant turnaround that looks like it might erase a quarter's worth of growth and then some. Official data release is March 27. I suppose we shouldn't be surprised that an administration whose only policy thus far has been to inflict pain on people would inflict economic pain as well.
2 quarters of this is a recession and 4 quarters of this is a depression by conventional metrics.
#USPol #USEconomics #economy #GDP
I'm not a GDP growth at all costs person--I believe we have no choice but to stop the mad obsession with making that number go up--but I do think it's important to note that GDP was growing relatively rapidly (by modern standards) through the end of 2024. This change marks a significant turnaround that looks like it might erase a quarter's worth of growth and then some. Official data release is March 27. I suppose we shouldn't be surprised that an administration whose only policy thus far has been to inflict pain on people would inflict economic pain as well.
2 quarters of this is a recession and 4 quarters of this is a depression by conventional metrics.
#USPol #USEconomics #economy #GDP
When Biden left the White House, the economy was growing at 3.9%.
Now that Trump is in the White House he’s turned it into a NEGATIVE 2.5% growth rate IN SIX WEEKS.
Republican Presidents destroy the economy.
#Economy #StockMarket #GDP #ArrestTrump #ArrestMusk #DonaldKrasnov #RepublicansOwnThis #GOPKakistocracy #GOPWeirdos #NoRepublicansEverAgain #USPol
Edited 45d ago
Washington Blues: A Government Town Faces a Gloomy Future
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For years, Washington, D.C., was insulated from many of the economic forces that decimated many older U.S. cities. Now, as Elon Musk’s mass layoffs shake everything from employment to real estate, the region faces the prospect of decline.
https://www.propublica.org/article/washington-dc-trump-musk-federal-government-cutbacks-gloomy-future?utm_source=mastodon&utm_medium=social&utm_campaign=mastodon-post
As boring as this topic may be and resentful as we may be that this man continues dominating news cycles, it's impossible to avoid either, because the damage is ongoing.
Heather Cox Richardson writes,
"The stock market continued to fall today. The Dow Jones Industrial Average fell another 478 points, or 1.14%; the S&P 500 fell almost 0.8%; & the Nasdaq Composite fell almost 0.2%."
#Musk #Trump #economy #stagflation #recession #StockMarket #billionaires #tariffs
/1
Holy shit
#DeSantis admits that the #WorkerShortages created by anti-#immigrant laws need to be eased by putting teenagers to work by relaxing #ChildLabor protection standards.
#USpol #law #immigration #economy #Trump
https://www.miamiherald.com/news/local/immigration/article302704319.html
Edited 24d ago
