Budget Deficit Swells to $779 Billion

The federal budget deficit grew to $779 billion in fiscal 2018, nearly 17 percent higher than last year, according to the Treasury Department. The deficit is now on pace to top $1 trillion next year, and is the largest since 2012, when the economy was still recovering from the last recession. Administration officials attributed the… Read more »

Travel CEOs Outline Concerns for Trump

U.S. Travel Association officials and CEOs from 13 USTA member companies met with President Trump and senior administration officials at the White House Sept. 4 to discuss the economic impact of travel and tourism and the importance of inbound travel to trade deficit reduction. The conversation focused on ways the administration and the travel industry… Read more »

White House Pushing Short-Term Health Plans

The Trump administration issued a final rule Wednesday allowing for the sale and renewal of more short-term health plans that are designed to be inexpensive, but do not have to cover pre-existing conditions or comply with other Affordable Care Act (ACA) coverage requirements. Under the current rules, issued in 2016 by the Obama administration, short-term… Read more »

Trade War Looming, Businesses Warn

Business leaders are warning that the trade tariff policies implemented by the Trump administration are likely to trigger a global trade war that will hit U.S. industries and consumers hard. The White House has pledged to implement tariffs on $34 billion in Chinese products on Friday, and the Chinese government said this week it has… Read more »

U.S. Granting Fewer Visitor Visas

The U.S. granted 13 percent fewer visitor visas over the past 12 months, according to State Department data analyzed by POLITICO. Of the 48 nations analyzed by POLITICO, 37 experienced a decline while only 11 were up from the 2016 monthly average. A State Department official contacted for comment said, “Visa demand is cyclical and… Read more »