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OMB Director Russell Vought: If Trump’s bill fails, expect recession and 60% tax increase
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Approved, Fox News, National

OMB Director Russell Vought: If Trump’s bill fails, expect recession and 60% tax increase

By Diana Stancy | Fox News OMB Director Russell Vought has cautioned about a recession if Trump's tax and spending package isn't passed The White House is challenging the nonpartisan Congressional Budget Office’s assessment that President Donald Trump’s sweeping tax and spending package will raise the federal deficit by trillions of dollars throughout the next decade. The national debt, currently $36.2 trillion, tracks what the U.S. owes its creditors, while the national deficit measures how much the federal government’s spending exceeds its revenues. So far, the federal government has spent more than $1 trillion more than it has collected this fiscal year, according to the Department of the Treasury.  The Congressional Budget Office (CBO) issued an analysis...
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Some economic indicators point toward a recession, Colorado financial adviser analyzes
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Approved, DENVER7, State

Some economic indicators point toward a recession, Colorado financial adviser analyzes

By Rachel Wingrat | Denver7 There's been a lot of uncertainty recently about whether or not the United States will soon enter a recession. But some indicators suggest that's the direction we're headed, according to Colorado financial adviser Bruce Allen. Allen said there are four reasons economists think a recession could be coming: consumer confidence is declining, stocks are falling, markets are becoming more volatile and short-term interest rates are higher than long-term interest rates. Allen said, that last one has come before every recession since 1960. READ THE FULL STORY AT DENVER7
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Trump says US will experience ‘period of transition’ when asked if economy could see a recession this year
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Approved, Fox Business, National

Trump says US will experience ‘period of transition’ when asked if economy could see a recession this year

By Taylor Penley | Fox Business President Donald Trump declined to explicitly rule out a full-blown recession for the U.S. economy this year, telling Maria Bartiromo in a recent "Sunday Morning Futures" exclusive that the country will see a "period of transition" as his policies take effect. "I hate to predict things like that," he said of a recession. "There is a period of transition because what we're doing is very big. We're bringing wealth back to America. That's a big thing… it takes a little time, but I think it should be great for us." The president's comments come amid some business leaders' instability concerns over tariffs imposed on China, Canada and Mexico, as well as growing concerns of a potential economic slowdown.  READ THE FULL STORY AT FOX BUSINESS
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