DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Phillip Swagel - 6 Swagel - 3 Jennie Murray - 1 Liz - 1 ” - 1 Truss - 1 ” Swagel - 1 Dave Ramsden - 1
Top related locs:
America U.S United States United Kingdom South Carolina Longworth CBO's Michigan
Top related orgs:
Congressional - 5 CBO - 3 Federal - 2 of Labor Statistics - 1 Workers - 1 National Immigration - 1 London CNN - 1 Financial Times - 1

Search resuls for: "Phillip Swagel"


12 mentions found


☆ Immigrant workers are helping boost the U.S. labor market
  + stars: | 2024-05-03 | by ( Kate Rogers | ) www.cnbc.com   time to read: +1 min
The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain low, economists and the Federal Reserve are touting the importance of immigrant workers for overall future economic growth. Immigrant workers made up 18.6% of the workforce last year, a new record, according to Bureau of Labor Statistics data. Despite the U.S. adding fewer-than-expected jobs in April, the labor force participation rate for foreign-born workers ticked up slightly, to 66%. "We don't have enough workers participating in the labor force and our birth rate has dropped down 2% last year from 2022 to 2023.
Persons: Jennie Murray, Phillip Swagel, Swagel Organizations: Federal, of Labor Statistics, Workers, National Immigration, Congressional Locations: America
☆ US debt: Is America at risk of a Liz Truss-style market meltdown? The CBO thinks so
  + stars: | 2024-03-26 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +4 min
In an interview with the Financial Times, CBO director Phillip Swagel said US government debt — which the Treasury Department puts at nearly $35 trillion — is on an “unprecedented” trajectory. UK government bonds, or gilts, and the pound sold off sharply, partly in response to plans by Truss to issue more debt in order to pay for tax cuts. Mortgage rates and other borrowing costs soared as investors demanded much higher premiums for owning UK debt. He has promised to extend his 2017 tax cuts and has also spoken about reducing the corporate tax rate from the current 21% to 15%. “I will make the Trump tax cuts the largest tax cut in history,” he said last month at the Black Conservative Federation’s Honors Gala in South Carolina.
Persons: Phillip Swagel, Liz, ”, Truss, ” Swagel, Dave Ramsden, Donald Trump’s, Joe Biden, Fitch, “, Trump Organizations: London CNN, Congressional, Financial Times, Treasury Department, CNN, Bank of England, Democrats, Trump, Black Conservative, US Treasury, Federal, CBO Locations: United States, United Kingdom, South Carolina
☆ Interest on national debt could threaten U.S. economic stability, CBO director tells House panel
  + stars: | 2024-02-14 | by ( Ryan Anastasio | ) www.cnbc.com   time to read: +3 min
CBO Director Phillip Swagel testifies during the House Budget Committee hearing titled "The Congressional Budget Office's Budget and Economic Outlook," in Longworth Building on Wednesday, February 14, 2024. The director of the nonpartisan Congressional Budget Office warned House lawmakers Wednesday that the ballooning national debt and the cost of paying interest on it could become an existential threat to the U.S. economy. "Rising interest costs will crowd out other possible uses of government resources, and then also pose a risk to our economic stability" in the coming decade, CBO director Phillip Swagel told the budget committee at a hearing on Capitol Hill. Swagel's testimony centered around CBO's semi-annual report on the federal budget and the economy, released Feb. 7. The CBO report projected that the yearly U.S. budget deficit would grow by an estimated $1 trillion over the next 10 years.
Persons: Phillip Swagel, Swagel, Kevin McCarthy, Dan Kildee, Donald Trump's, Joe Biden's Organizations: Economic, Capitol, CBO, Republicans, GOP, Democrat, Congress Locations: Longworth, U.S, CBO's, Michigan
☆ CBO Director Phillip Swagel: U.S. deficit projected to climb to $2.6 trillion in 2034
  + stars: | 2024-02-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCBO Director Phillip Swagel: U.S. deficit projected to climb to $2.6 trillion in 2034CBO Director Phillip Swagel joins 'Squawk Box' to discuss the state of U.S. debt, the agency's deficit forecast, the impact of IRS tax enforcement on revenue collection, and more.
Persons: Phillip Swagel Locations: U.S
☆ The US economy will grow by an extra $7 trillion over the next decade due to immigration, the CBO says
  + stars: | 2024-02-08 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
The US economy will grow by an extra $7 trillion over the next decade, according to estimates from the CBO. "The labor force in 2033 is larger by 5.2 million people, mostly because of higher net immigration. AdvertisementThe CBO also found that net immigration has risen since 2022, and it expects it to remain elevated through 2026. The US labor force is expected to surge over the next decade thanks to strong net immigration trends. Another knock-on effect of America's net immigration trends is its impact on the housing market, since it should result in continued demand for new homes.
Persons: Phillip Swagel, Swagel, Jerome Powell, Powell Organizations: CBO, Congressional, Office, Immigrants Locations: Japan, America
☆ The deficit would still be wide even if rates went down, says CBO Director Phillip Swagel
  + stars: | 2023-11-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe deficit would still be wide even if rates went down, says CBO Director Phillip SwagelPhillip Swagel, Congressional Budget Office Director, and CNBC's Steve Liesman join 'The Exchange' to discuss the state of the deficit, its outlook, and more.
Persons: Phillip Swagel Phillip Swagel, Steve Liesman Organizations: Congressional
☆ CBO Director Phillip Swagel on U.S. deficit: An unusual and very challenging fiscal situation
  + stars: | 2023-08-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCBO Director Phillip Swagel on U.S. deficit: An unusual and very challenging fiscal situationPhillip Swagel, Congressional Budget Office Director, joins 'Squawk Bo' to discuss the fallout from Fitch's rating downgrade, which cited federal debt levels as one of the reasons for the downgrade, U.S. debt fears following CBO's projection that the nation's debt will soon exceed its all time high and skyrocket to 181% by 2053, and more.
Persons: Phillip Swagel, Bo Organizations: Congressional
☆ House Republicans to highlight US debt ahead of Biden budget proposal
  + stars: | 2023-03-08 | by ( David Morgan | ) www.reuters.com   time to read: +3 min
WASHINGTON, March 8 (Reuters) - U.S. House Republicans plan to focus on the federal government's $31.4 trillion debt in a closed-door meeting on Wednesday, the day before President Joe Biden unveils a 2024 spending plan the White House says will help limit the debt's growth. The emergence of the two budgets are seen as the starting gun for negotiations between House Speaker Kevin McCarthy and Biden over spending for fiscal 2024, which begins Sept. 1. The stakes of those talks are elevated this year as the federal government is expected to hit the $31.4 trillion debt ceiling by summer. McCarthy wants Biden to agree to spending cuts before his narrow Republican House majority would agree to raise the debt ceiling. Biden insists that Republicans must agree to a "clean" debt ceiling increase without a preliminary deal on spending.
☆ CBO Director Phillip Swagel: There's broad consensus in Congress to tackle budget concerns
  + stars: | 2023-02-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCBO Director Phillip Swagel: There's broad consensus in Congress to tackle budget concernsPhill Swagel, the director of The Nonpartisan Congressional Budget Office, joins 'Squawk Box' to discuss the Congressional Budget Office's debt warning, the potential for the U.S. to default on its debt, and rising interest payments challenging the U.S. budget window.
☆ U.S. will default this summer unless Congress raises debt limit, CBO warns
  + stars: | 2023-02-15 | by ( Christina Wilkie | ) www.cnbc.com   time to read: +2 min
WASHINGTON — The United States Treasury will exhaust its emergency measures to prevent a debt default sometime between July and September unless Congress raises the $31.4 trillion debt limit, the Congressional Budget Office projected Wednesday. The latest projection notes that the final date will be determined by tax revenues the IRS receives in April. Should those measures be exhausted before President Joe Biden can sign off on a new debt limit passed by Congress, "the government would have to delay making payments for some activities, default on its debt obligations, or both," said Swagel. A large bloc of Republicans in the House have demanded Congress pass drastic cuts to federal spending before they will agree to vote to raise the debt limit, effectively using their leverage within the GOP to force their priorities to the front of the line. Republicans argue that the debt limit and annual federal spending are inextricably linked, the same way household debt is a product of household spending.
☆ U.S. could face debt-ceiling crisis this summer without deal, CBO warns
  + stars: | 2023-02-15 | by ( David Lawder Richard Cowan | David Lawder | Richard Cowan | ) www.reuters.com   time to read: +5 min
"If the debt limit is not raised or suspended before the extraordinary measures are exhausted, the government would be unable to pay its obligations fully," the CBO report said. "As a result, the government would have to delay making payments for some activities, default on its debt obligations, or both." CBO Director Phillip Swagel attributed the rise to higher interest rates that particularly are hitting the housing industry, coupled with slowing business investment. REUTERS/Elizabeth FrantzRepublicans, who control the House of Representatives, want to withhold a debt limit increase until Democrats agree to deep spending cuts. Democrats in turn say the debt limit should not be "held hostage" to Republican tactics over federal spending.
☆ Biden’s student loan cancellation plan to cost $400B, Congressional Budget Office estimates
  + stars: | 2022-09-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com   time to read: +2 min
WASHINGTON — President Joe Biden's plan to forgive $10,000 in federal student debt for most borrowers will cost the government about $400 billion over 10 years, the nonpartisan Congressional Budget Office said in an estimate released Monday. The report also noted that the administration plan to extend a pause on federal student loans will also cost about $20 billion. The Committee for a Responsible Federal Budget, a group that advocates for lower deficits, said the CBO's predictions confirm "the outrageous cost" of Biden's student loan plan. "The Biden Administration’s student debt bailout is even more expensive than we initially thought," tweeted Rep. Andy Biggs, R-Ariz. "The current bailout will cost Americans $420 BILLION, according to the CBO. Rep. Mariannette Miller-Meeks, R-Iowa, tweeted, "President Biden isn’t forgiving student loans—he’s charging hardworking Americans $400 billion."
0 next >>
Total: 12