US President Barack Obama said the United States must use the tax code to help meet its targets for reducing the deficit and said that the wealthiest Americans must help achieve that goal.
President Barack Obama called for an overhaul of the U.S. tax code for individuals and businesses and said he wants to raise an additional 1 trillion US dollars through tax increases over the next decade.
The US trade deficit shrank in February as imports fell more than exports, according to a government report that suggested a slowdown in global demand. The monthly trade gap totalled 45.8 billion US dollars, down from an upwardly revised estimate of 47 billion in January.
By David Michaels (*) “Hoodwink” is John Perkins latest book and a blueprint for a new form of global economics, far from predatory capitalism that must put an end to the old formula of “the few benefiting at the expense of the many”.
United States congressional leaders have agreed on a budget deal to fund the US government for the rest of the fiscal year, just before a midnight deadline. It will reportedly cut 39 billion USD from the budget over last year's levels between now and 30 September.
The US State Department released its annual report on human rights around the world and questioned the Argentine judicial system’s independence along with a series of abuses carried out by police forces including deaths and torture claims.
The United States expelled on Thursday Ecuador’s ambassador to Washington in retaliation for the expulsion of the top US diplomat in Quito. Within hours, Ecuador’s President Rafael Correa accused the US of infiltrating his country’s police.
White House officials said the United States and Colombia have reached a deal on a free trade agreement. President Barack Obama and Colombian President Juan Manuel Santos are to meet Thursday to discuss the deal.
Members of the US Federal Reserve are in sharp disagreement about how to address rising prices. The bank might need to tighten the reins on the economy before the end of the year to stave off inflation, said some members of the central bank's policy-setting body.
The increase in the Mexican IMEF manufacturing index last month suggests that the industrial sector has continued to benefit from stronger demand in the US, points out Capital Economics.