UPDATED: On the second day since the Republicans raised the debt ceiling, the federal government added another 43 billion to the previous day’s $355 billion increase. The $43 billion in itself is a very large increase, and this brings the new two-day deficit total to a remarkably $409.95 billion. That’s a debt that’s nearly the size of half the Medicaid budget, all racked up in two days. 

One of the most rudimentary topics in mainstream macroeconomics is inflation, and specifically the different methods of “measuring” inflation, such as the Consumer Price Index (CPI) and Producer Price Index (PPI). These concepts are taught in practically every introductory macroeconomics course, and they play a central role in policy discussions about the economy.

Last week, as the country gathered to celebrate the Fourth of July, several communities in central Texas were devastated by flash floods.

IT’S ABOUT PALESTINE. Of all the known facts about Israel’s war of aggression against Iran, now nominally suspended by Trump, this is the most important.

Many supporters of President Trump during April claimed that the administration was slashing the federal deficit, pointing to rising tax revenues that occurred during that month. Some claimed that revenue was soaring thanks to collections from tariffs. 

In truth, nothing remarkably good happened during April in terms of tax revenues or deficits. Tariff revenue continues to constitute a fairly small portion of overall federal revenue, and tax revenue in April spikes every year thanks to tax return filing deadlines. 

Up over 30 basis points in 3 days, now above 3%. “Market concerns about fiscal policy....may be contributing to the rise in bond yields...”