The short-term snapshot paints a rosy scenario for the federal budget with a lowered deficit, growing economy and strong revenues. However, if the current policies in place were frozen into the future, the scenario doesn't look quite as promising.
Today is the last day of FY 2014. The government is funded for the first part of FY 2015, which starts tomorrow, via a continuing resolution (CR) that will extend into December when a lame duck session of Congress will make another necessary extension. According to the Congressional Budget Office (CBO), the federal budget deficit will total $506 billion, approximately $170 billion lower than it was in 2013. That is higher than the estimate in April of this year that pegged it at $492 billion. T...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...