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May 4, 2021

spending

Biden has no excuse for his massive spending because the crisis is over

NYPost
Rich Lowry If Joe Biden wanted to spend massively in response to a nearly unprecedented public-health emergency, he was elected too late. The conventional wisdom justifying the president’s new FDR-sized ambitions is that the country is in crisis and he has to meet the proverbial moment, which can only be......

Some worried Biden spending spree overkill as economy beats expectations

USA TODAY – For more and to sign up click here Concern is growing among some economists about President Joe Biden’s rash of federal spending proposals intended to bolster the pandemic-hit economy. Biden’s $1.9 trillion relief package put $1,400 checks in the pockets of most people, and while the president......

200 million vaccine shots, hot markets, big spending – Biden’s first 100 days, in charts

CNBC
CNBC – For more and to sign up click here U.S. President Joe Biden gestures as he speaks during the Democratic National Committee’s “Back on Track” drive-in car rally to celebrate the president’s 100th day in office at the Infinite Energy Center in Duluth, Georgia, April 29, 2021. Evelyn Hockstein......

Mastercard profit falls nearly 6% on cross-border spending slump

Reuters
Mastercard Inc (MA.N) reported a nearly 6% drop in first-quarter profit on Thursday, mainly driven by a steep decline in cross-border spending on its cards because of a slump in international travel due to the COVID-19 pandemic. Net income, excluding exceptional items, fell to $1.7 billion, or $1.74 per share,......

Biden proposes spending $1.8 trillion on child care, education, paid leave

Detriot News
Detroit News – For more and to sign up click here Washington —  President Joe Biden declared Wednesday night in his first address to a joint session of Congress that “America is rising anew” on the verge of overcoming the historic pandemic. Looking to the future, he urged a $1.8 trillion......

In first speech to Congress, Biden to push $4 trillion spending plans

Reuters
U.S. President Joe Biden holds a bipartisan meeting on the American Jobs Plan at the White House in Washington, U.S., April 19, 2021. REUTERS/Kevin Lamarque/File Photo President Joe Biden plans to unveil a sweeping $1.8 trillion package for families and education in his first speech to Congress on Wednesday and......

Dems lean closer to going it alone — again — on Biden’s $4T spending plan

Politico
Politico.com – For more and to sign up click here “The train is leaving,” Blumenthal argued, adding that Democrats would “get a lot more than we would” by moving unilaterally than they would “if we chase our tail around and hope for this bipartisan mirage that is just over the......

Visa second-quarter profit falls as pandemic crimps travel spending

Reuters
A Visa credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer/Illustration Visa Inc (V.N) reported a fall in quarterly profit on Tuesday as the COVID-19 pandemic hit large parts of the global travel and retail industries, pressuring cross-border spending volumes for......

Cooper pushes spending initiatives, COVID-19 recovery in State of State

WashingtonExaminer
USA TODAY – For more and to sign up click here North Carolina Gov. Roy Cooper pushed for unity among lawmakers and safety nets for North Carolinians on Monday night during his State of the State address. Cooper, a Democrat, called on the Republicans in the North Carolina Legislature to......

GM commits to doubling ad spending with Black-owned media

Reuters
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook General Motors Co (GM.N) will double its commitment to spending with Black-owned media to 4% of its ad budget next year with a target of reaching 8%......

The post-pandemic spending spree has begun. Here are 6 things Americans are buying

CNBC
CNBC – For more and to sign up click here Shoppers wearing protective masks carry bags on Market Street in San Francisco, California, on Wednesday, April 14, 2021. David Paul Morris | Bloomberg | Getty Images Shoppers are emerging from their cocoons and aspiring to switch it up from sweatpants,......

Big spending on personal security ignites post-Jan. 6 debate over members’ budgets

Politico
Politico.com – For more and to sign up click here That spending — all revealed in recent campaign finance disclosures — spotlights a challenge many lawmakers are eager to tackle this month: how to update the strict rules that govern personal security costs for members of Congress. “This is a......

Two under-the-radar retail stocks will ride resurgent consumer spending, according to traders

CNBC
CNBC – For more and to sign up click here Ongoing stimulus, the vaccine rollout and a reopening economy have consumers in a spending mood. Retail sales in March soared nearly 10%, the second best increase on record. Retail heavyweights like Amazon and Walmart aren’t the only ones that could......

Democrats agonize over game theory on Biden’s $2T-plus spending plan

Politico
Politico.com – For more and to sign up click here But as much as Republicans trust Coons is acting in good faith, his idea doesn’t address the divisive political question of how to pay for the package. And that leaves them reason to be wary, since Democrats are likely to......

CNBC survey shows support for infrastructure spending much less than previous stimulus

CNBC
CNBC – For more and to sign up click here A slight plurality of Americans support President Joe Biden‘s $2.25 trillion infrastructure plan and favor raising corporate taxes to pay for it. But the plan is much less popular than the relief bill passed earlier this year, and there are......

Four ways consumer spending will change once more people are vaccinated

CNBC
CNBC – For more and to sign up click here Shoppers wearing protective masks exit from a Hennes & Mauritz (H&M) store in the Herald Square area of New York, U.S., on Thursday, Aug. 6, 2020. Nina Westervelt | Bloomberg | Getty Images As more people receive the Covid-19 vaccine,......

What President Biden Proposed in His Fiscal 2022 Spending Plan

New York Times
That is on top of the $213 billion slated for housing in the infrastructure plan, which could transform an agency relegated to backwater status under Mr. Trump into a key player in Mr. Biden’s efforts to target structural racial and economic inequality. The plan includes a significant expansion of federal......

Infrastructure spending bill must address 21st century challenges, press secretary Psaki says

CNBC
CNBC – For more and to sign up click here White House press secretary Jen Psaki on Wednesday pushed back against recent criticism toward President Joe Biden‘s $2 trillion infrastructure package, noting this needs to go beyond getting “the horse and buggy across the road anymore.”  “He [Biden] believes that......

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