The U.S. debt ceiling is a relic from another time that serves no useful purpose and should be abolished, according to 43 House Democrats, an opinion shared by some leading economists. The effort is led by Rep. Bill Foster (D-Ill.), who introduced H.R. 415, the End the Threat of Default Act, which would repeal the…

President Joe Biden’s 2024 budget proposal assumes that government income will be 19.6 percent of the country’s gross domestic product (GDP), a figure Sen. Mike Braun (R-Ind.) found hard to believe, saying the country has never generated more than 17.5 percent over 50 years and suggesting the administration was “being dishonest with the American public.”…

The Biden administration is racing to avert a rail shutdown, hosting talks with railroad and union officials. Mortgage demand plummets compared to last year, as mortgage interest rates surge above 6 percent. America’s national debt is closing in on $31 trillion. We take a deep dive, looking at what this means for the country and…