NEW YORK (Reuters) - The New York Federal Reserve on Friday raised its estimate of U.S. gross domestic product growth for the fourth quarter of 2017 closer to 4 percent, based on revisions of prior data that suggested stronger economic activities.
The regional central bank’s “Nowcast” model calculated the economy was expanding at an annualized pace of 3.98 percent in the fourth quarter, quicker than the 3.92 percent rate calculated a week ago.
24 comments:
Be afraid. President Donald Trump will formally announce his administration's National Security Strategy.
From personal experience, everybody is hiring here. I mean it's obvious here. If you aren't working it's your own fault in Southern California.
Best put liberals on suicide watch
The odds of Roger saying it's really the Obama economy are 100%
It Looks Like Obamacare Will Survive
Dylan Scott: “Health care lobbyists are flatly dismissing the idea that Congress could actually revisit Obamacare repeal next year. Sens. Susan Collins (R-ME) and Lisa Murkowski (R-AK) remain opposed to taking up repeal efforts. The party’s long-sought talking point of repealing Obamacare root and branch is probably actually, finally dead.
“Repealing the individual mandate is a legitimate blow to the Obamacare marketplaces, but doing so won’t unravel the markets entirely. They will function worse than they did before, and premiums will rise. But millions of people who receive generous tax subsidies to buy coverage will not feel the brunt of those cost increases. The law’s rules prohibiting health insurers from discriminating against preexisting conditions remain on the books. Finally, and most importantly, Obamacare’s Medicaid expansion, which covered upward of 15 million people, remains untouched.”
Half Say Their Taxes Will Go Up Under GOP Plan
A new Monmouth poll finds Americans disapprove of the tax reform plan currently making its way through Congress by a nearly 2-to-1 margin, 47% to 26%.
It is also worth noting that strong disapproval (35%) of the proposal far outweighs strong approval (13%).
Key finding: “Half the public believe their own taxes would go up under this plan and a plurality would like to see Congress scrap the current effort and start fresh in 2018.”
Redistributing Income from the Poor to the Rich
Washington Post: “Back in 1980, the bottom 50% of wage-earners in the United States earned about 21% of all income in the country — nearly twice as much as the share of income (11%) earned by the top 1 percent of Americans.
“But today, according to a massive new study on global inequality, those numbers have nearly reversed: The bottom 50% take in only 13% of the income pie, while the top 1% grab over 20% of the country’s income.
“Since 1980, in other words, the U.S. economy has transferred eight points of national income from the bottom 50% to the top 1%.”
Collins Still Reviewing Tax Bill
Sen. Susan Collins (R-ME) is still reviewing the tax bill, her spokeswoman said, suggesting she hasn’t yet reached a decision on how to vote, the Wall Street Journal reports.
“She has come under pressure from some groups in Maine to vote against the tax bill, in part because it repeals a mandate that most Americans buy health insurance or pay a penalty, a key pillar of the Affordable Care Act.”
James Hohmann: “The health insurance market is almost certain to implode next year, and rates are likely to skyrocket for many, because of the repeal of the individual mandate. By getting rid of the linchpin of the Affordable Care Act in this bill, Republicans are giving up any standing they had to blame Barack Obama for the health-care mess. The Congressional Budget Office estimates that this change alone will lead to 13 million more uninsured Americans a decade from now.”
Yawn.
Well Guess What James!
In February of 2018 - all those polls will be moot. We will know if our taxes went up or went down.
and boy oh boy... won't Democrats look like fools if people open their paycheck in a couple of months and see more net pay?
I know I'll save about 3 grand in federal income tax.
Trump slammed by critics after using Amtrak derailment to tweet about his infrastructure plan
Six dead and the President immediately tries to politicize the tragedy. It is not yet known whether the accident was due to an infrastructure failure.
“But today, according to a massive new study on global inequality, those numbers have nearly reversed: The bottom 50% take in only 13% of the income pie, while the top 1% grab over 20% of the country’s income."
News for the willfully ignorant. Having considerably more rich people and considerable less poor people is a good thing.
My family tax bill is reduced by approximately $3 600.00. , because of our "pass Thru" income drops by 8 %.
James, wp, hb and even oPie.
What does yours drop by?
We Economist know that the closer to the bottom of the income scale one is the more effect tax reduction expands the paycheck and nearly all additional dollars are spent.
Trump slammed by critics after using Amtrak derailment to tweet about his infrastructure plan
The only thing I would quibble with Trump about is that the train was brand new and the track was newly rerouted.
Otherwise, the very people condemning Trump for using a tragedy to push an infrastructure plan are the very same people who used gun tragedies to push gun control.
At least infrastructure improvements have more broad based support is not an excuse to abridge our constitutional rights.
Hypocrisy Bedrock Liberalism
Liberals we understand why you have to try so hard to topic shift.
WINNING
ROFLMFAO !!!
According to the Bureau of Labor Statistics( BLS), the unemployment rate for black Americans is the lowest it has been since the year 2000, 17 years ago.
In November, the national unemployment rate for black Americans, ages 16 and over, was 7.3%.
The last time it was 7.3% was in the year 2000, during the months September, October and November.
During the Bush and Obama years (2001 -2016), the black unemployment rate fluctuated between 7.7% and a high of 16.8%.
Back in September 2017, the rate was 7.0%, a low that had not been seen since April of 2000. Prior to that, going all the way back to 1972, the black unemployment rate never fell below 7.0% and was largely in the double digits throughout the 1970s, 1980s and 1990s.
https://www.cnsnews.com/news/article/michael-w-chapman/black-unemployment-rate-lowest-17-years
huh, according to politico, 0lisnky was helping hezbollah run coke to keep his iran deal from turning to shit.
https://www.politico.com/interactives/2017/obama-hezbollah-drug-trafficking-investigation/
you can take the boy out of the choom gang, but you can't take the choom gang out of the boy.
RRB,you are one truthful funny guy.
President Trump ask the Black voters to vote for Him in 2016.
With the unemployment for Hispanics and Blacks improved will they credit this President?
HB, "Dow CRASHING" Upward today.
Jane you lose again.
Senator Susan Collins is Bigly Yes.
How many mythical centrist Democrats will vote yes?
CNBC Crew in tears on set.
TRUMP Economy smashing CNBC Optimism Index.
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