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Alexandria Ocasio-Cortez’s favorite economic theory derided by IMF chief Christine Lagarde as no ‘panacea’

Christine Lagarde has poured cold water on the viability of an esoteric economic theory popularized by US Representative Alexandria Ocasio-Cortez.
Supporters of republican presidential candidate former Massachusetts Gov. Mitt Romney stand next to a national debt clock during a rally at Exeter High School on January 8, 2012 in Exeter, New Hampshire.

The US posted a $234 billion budget deficit last month, the biggest one-month deficit in history

The budget deficit is being driven by the tax reform law supported by President Trump and the GOP as well as the bipartisan spending deal.
President Donald Trump holds up a chart showing the US national debt during a campaign rally in 2016.

Trump once promised to eliminate the national debt in 8 years — but his new budget shows the president is going in the opposite direction

Candidate Donald Trump promised to eliminate the debt "over a period of eight years," but the presidential budget shows that isn't going to happen.

The US federal deficit soared to $310 billion to start fiscal year 2019, up 77% from the year before

The US budget deficit soared due to a drop in tax revenues and increased spending. Trump's tax law and the bipartisan budget deal drove the jump.
Supporters of republican presidential candidate former Massachusetts Gov. Mitt Romney stand next to a national debt clock during a rally at Exeter High School on January 8, 2012 in Exeter, New Hampshire.

The US national debt just topped $22 trillion for the first time in history

The increase in national-debt accumulation has been caused by the GOP tax law's cut to revenues and the bipartisan budget deal's increased spending.
Paul Ryan speaks in front of the campaign's "national debt clock" in Dover, New Hampshire.

The US will issue over $1.3 trillion in new debt in 2018, the highest amount since the depths of the recession

The amount of debt that the US government will issue in 2018 is projected to be $1.34 trillion, a 146% increase from 2017 and the highest since 2010.

One of Republicans’ biggest promises about their tax law is coming apart at the seams

Republicans claimed that the new Tax Cuts and Jobs Act would pay for itself or even decrease the federal deficit. But based on new numbers from the Treasury Department, that doesn't appear to be happening.
Treasury Secretary Steven Mnuchin

Treasury Secretary Steve Mnuchin doubled down on a claim about the tax bill that almost every independent group says is wrong

Treasury Secretary Steven Mnuchin claimed that the new GOP tax law would "pay for itself" during an interview Tuesday. The only problem is that every analysis, even those done by the Trump administration, shows the law will add to the federal debt.

Ex-Microsoft CEO Steve Ballmer won’t run for office: Politics is the ‘worst sales job in the world’

Ex-Microsoft CEO and LA Clippers owner Steve Ballmer says that when it comes to political ambitions, he has "zero, nada, none."