Economy
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Native American businesses have diversified beyond casinos to become a rural economic force. Trump is cutting off a lifeline that goes beyond tribes
Near Thackerville, Oklahoma, a town on the Texas border with fewer than 500 residents, what started as a small roadside bingo hall has spent the past 20 years growing into one of the planet’s largest gambling destinations. The WinStar World Casino, fully owned and operated by the Chickasaw Nation, is now the cornerstone of Oklahoma’s
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Fed researchers see a ‘full pass-through’ of Trump’s tariff costs to consumers, adding almost a full percentage point to inflation
The debate about who actually pays for tariffs has simmered in boardrooms and at kitchen tables across America. A little over a year into President Donald Trump’s tariff regime, a number of studies are now determining that U.S. consumers have been its biggest financier. The burden of tariff costs have gone from international trade partners,
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Forget U.S. debt, China’s total borrowing is in ‘a league of its own’—much worse and deteriorating faster, analyst says
As President Donald Trump gets set to meet Chinese counterpart Xi Jinping this week, China’s technological prowess will be on display, but its state-led growth model has been slowing—and a rapidly expanding mountain of debt is a warning sign. In fact, while the recent explosion in U.S. federal debt has raised numerous red flags, a
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Jensen Huang’s message to electricians and plumbers: ‘This is your time,’ as AI buildout leads to soaring demand for skilled trades
In the artificial intelligence age, industry leaders say the most in-demand and potentially lucrative professions might not be the roles building AI models themselves, but rather the sorely lacking manual labor needed to supply the technology’s massive infrastructure needs. That’s the endorsement of Nvidia CEO Jensen Huang. Addressing Carnegie Mellon University’s class of 2026 during
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Young Americans are more pessimistic about jobs than their parents—and no advanced economy has ever seen this kind of divide
For years, younger Americans have been more optimistic about the job market than older Americans, even through the depths of the Great Recession. But in an abrupt shift, a new poll released Monday finds young people’s confidence has plummeted over the past two years — while their elders remain more upbeat. The gap between young
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U.S. Treasury pays $3 billion a day in interest on national debt nearing $39 trillion mark
The U.S. Treasury has paid $628 billion in net interest this year to service its borrowing,according to the the Congressional Budget Office (CBO). The latest monthly budget update on the national debt and its interest burden, shared on May 8, breaks down the government’s income and outgoings for the fiscal year so far, which began
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Forget the Rust Belt or the Sun Belt. The ‘Wired Belt’ may be the next frontier of American political power
The laid-off factory worker from Youngstown, Ohio, became the defining figure of American politics for the past two decades. The jobless financial professional from Philadelphia’s suburbs could be the defining figure of the future, and their demands may be harder to ignore. That’s the warning from the Fletcher School at Tufts University. The American AI
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‘This is the way’: Elon Musk endorses Warren Buffett’s famed 5-minute plan to fix the national debt
The national debt is set to reach $40 trillion in the near future if it continues to grow at its current pace. That has caught the attention of the richest man in the world. Elon Musk has joined the likes of Bridgewater founder Ray Dalio and Treasury Secretary Scott Bessent in supporting a solution to
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‘Americans are literally getting squeezed’: A top economist on why your wages are disappearing while the rich keep booking vacations
Consumer sentiment in the U.S. has officially never been worse. The University of Michigan’s final April reading came in at 49.8, the lowest in the survey’s 74-year-history. Three of the four lowest sentiment readings ever recorded have now happened in the past nine months. To be fair, the survey isn’t without its critics. Economists have
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Russian debt defaults are surging, with a quarter of the bond market at risk, while Putin hides in bunkers fixated on his war instead of the economy
The Russian economy is now shrinking, and businesses are having more trouble keeping up with debt payments, representing a potentially systemic threat to the country’s bond market. According to data from the central bank this week, GDP contracted 0.5% year over year in the first quarter, far below projections for 1.6% growth, due in part