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CBO Sees U.S. Budget Deficit Ballooning to $1 Trillion By 2020

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A suspected chemical attack in Syria was followed by threats of U.S. retaliation and increased tension between Russia and America. Russia's economy is taking a hit thanks to a new round of sanctions and America is fast on its way to surpassing a $1 trillion deficit. 

The U.S. deficit will top $1 trillion by 2020. Tax cuts and spending increases signed by President Donald Trump will shoot the American checkbook into uncharted territory sooner than expected, according to the Congressional Budget Office. Deficits are growing thanks to roughly $300 billion in additional spending and a Republican tax overhaul that will lower revenue by more than $1 trillion over the next decade. 

Mark Zuckerberg is falling on his sword, telling Congress that Facebook’s failure to prevent its tools from being misused by purveyors of fake news and hate speech, among others, is his fault.

In booming tech cities such as San Jose, San Francisco and Seattle, the increasing value of a typical home has given some homeowners the equivalent in wealth of asix-figure annual salary.

Sanctions levied against Russian companies and oligarchs sent Moscow-traded stocks to their biggest fall in four years. The currency slid the most globally as the nation’s credit risk soared.

Russia said it was Israel who carried out an attack on an airbase in Syria, and not the U.S., which is still considering a strike as retaliation for the suspected use of chemical weapons.

The center of gravity for world aviation is continuing its eastward shift, with China and India ascendant and destinations like New York City—and JFK airport in particular—not as busy.

Is Vail Resorts killing the spirit of Whistler? When Vail bought Canada’s famed Whistler Blackcomb ski mountain, locals were nervous. Now, after a season of record visitors, they’re enraged.

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