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Understanding the cycle of U.S. deficit spending and rising debt amid Trump budget push – CBS News Watch CBS News The U.S. economy is the largest globally, but its debt outweighs that distinction by trillions. Maya MacGuineas, president of the nonpartisan nonprofit Committee for a Responsible Federal Budget, joins “America Decides” to explain why that’s a problem, and how increasing that debt with the latest budget proposal could hurt average Americans. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

House committee to reconvene after conservatives block Trump budget package – CBS News Watch CBS News Conservatives blocked President Trump’s “big beautiful bill” from advancing out of the House Budget Committee on Friday. The committee is set to meet again late Sunday night for another vote attempt. CBS News congressional correspondent Caitlin Huey-Burns reports. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Rep. Kathy Castor says Trump budget bill “could die of its own weight” – CBS News Watch CBS News The Republican-led House Budget Committee failed to pass President Trump’s budget plan on Friday. Democratic Rep. Kathy Castor of Florida, who serves on the House Energy and Commerce Committee, joins “America Decides” to discuss her grievances with the bill. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

A member of a religious order says the election of Pope Leo XIV may bring Americans back to church. Will Pope Leo XIV have to file and pay U.S. taxes, despite his strict vow of poverty? Leo is the first American pontiff in history. And U.S. citizens, no matter where they live or who they are, are required to pay tax on their worldwide income—if they owe any.  Even if they don’t owe tax, they may have to file a return with the Internal Revenue Service. And whether it’s the pope or the rest of us, there are good reasons…

Charter, one of the country’s biggest cable and broadband companies, is buying Cox, a smaller cable and broadband company.If you’re a customer of either company, you might be vaguely interested in what the deal means for you. And what might you think if you’re the president of the United States?Well, Charter is hoping you’ll think this is a deal that Makes America Great Again.It’s a real sign of the times in the Trump 2.0 Era: A pretty standard proposed merger is being framed as an explicitly pro-American deal.But don’t take my word for it. Consult Charter’s press release, which says…

A grounded Boeing 737 Max 9 aircraft at Los Angeles International Airport.Eric Thayer | Bloomberg | Getty ImagesThe Justice Department and Boeing are close to a deal that would allow the aerospace giant to avoid pleading guilty or a trial in a criminal case related to two deadly crashes of its 737 Max passenger jet, a person familiar with the matter said Friday.Boeing agreed to plead guilty in the case last summer in a deal with the Justice Department after the Biden administration found earlier that year that the company violated a 2021 agreement tied to the crashes. A judge…

The US economy is holding up, but Americans don’t seem to see it that way.The off-kilter vibes reflect a widening gap between “hard data” and “soft data” related to the economy. Simply put, forward-looking data like consumer sentiment is way down, while the backward-looking data the Fed uses to inform policy, such as employment data, is still strong.The dynamic continued to play out this week.The latest consumer sentiment reading on Friday showed an unexpected drop this month. According to the University of Michigan, the preliminary index reading fell from 52.2 to 50.8.That’s the second-lowest sentiment reading the index has ever…

Weeks after Hooters of America filed for bankruptcy, the brand could be close to getting a lifeline from a longtime fan: the wrestling legend Hulk Hogan.Real American Beer, a brand Hogan founded in 2024, plans to submit a bid for Hooters’ intellectual property soon, a person familiar with the company’s plans told Business Insider.If a bid was successful, it would allow Hogan and Real American Beer to create Hooters-branded merchandise, such as food and beverages, that it could distribute at restaurants, including Hooters locations, as well as at retailers and entertainment and gaming venues, the person said.Real American could license…

When my husband and I had kids, grocery shopping became a nightmare. I had to first rangle my two toddlers to get in the car and then basically drag them down grocery store aisles for 90 minutes — not to mention another 30 minutes of round-trip drive time plus the loading and unloading of kids and groceries. It felt like a half-day Olympic event.Even once the kids were older and I could shop alone, I was still squeezing shopping in on crowded weekends. Full disclosure: I usually had to bribe myself with a Starbucks drink on the way home.It wasn’t…

The House Republican bill to enact President Trump’s domestic policy agenda contains a provision that has prompted opposition from the Mexican government — a tax on cash payments sent by non-U.S. citizens to family members in their home countries.The payments, known as remittances, would be subject to a 5% excise tax that would encompass more than 40 million people, including green card holders and nonimmigrant visa holders, such as people on H-1B, H-2A and H-2B visas. U.S. citizens would be exempt. In a May 13 letter to the leaders of the House Ways and Means Committee, Esteban Moctezuma Barragán, Mexico’s ambassador…