source Joe Raedle/Getty Images During a meeting with his top economic adviser, President Donald Trump suggested that since interest rates were going up the US government should simply borrow massive amounts of money. That’s according to Bob Woodward’s new book, “Fear: Trump in the White House.” When Gary Cohn explained that increasing borrowing would push up the federal deficit, Trump suggested simply printing money to pay off the debt. Cohn explained that could be seriously harmful to the US fiscal and economic situation, but Trump did not appear to understand, the book says. During the first meeting between President-elect Donald Trump and his former economic adviser, Trump appeared confused by elements of the federal debt and US monetary policy. Veteran journalist Bob Woodward’s new book, “Fear: Trump in the White House,” describes a conversation between Trump and Gary Cohn, the former director of the National … [Read more...] about Bob Woodward book: Gary Cohn was ‘astounded at Trump’s lack of basic understanding’ about the federal debt
Council of the federation
MANILA, Philippines — The National Economic and Development Authority (NEDA) warned that the national government might incur as much as P243.5 billion in additional expenses every year to operate a federal government, which would increase pressure on the country’s fiscal deficit. NEDA Undersecretary Rosemarie Edillon said the Philippines’ shift to federalism might result in additional costs ranging from P156.6 billion to P243.5 billion every year. President Duterte’s economic managers belonging to the Economic Development Cluster met on Wednesday with the members of the consultative committee (Concom) reviewing the 1987 Constitution. “We’re looking at fiscal pressures. One is with respect to the additional offices that will have to be put up, in the legislative, judiciary and of course in the executive as well. That’s why we were able to come up with that number,” Edillon said. She said it also includes the required funding for the … [Read more...] about Consultative committee warned of costly federalism
By Tess Kalinowski Real Estate Reporter Sat., March 31, 2018 It should be an urban paradise — a green expanse punctuated by neighbourhoods of modern, urban townhomes wound along leafy, walkable streets interspersed with bike paths, all offset with open, celebratory public spaces and sheltering woodlands. That’s the vision. It is portrayed in a video by Canada Lands Co., the federal agency that owns and manages the former military property at Downsview. It is also enshrined in the city’s secondary plan for the area. On paper, the 232-hectare, federally owned Downsview Park, near Sheppard Ave. W. and Keele St., is a civic jewel. It attracts 236,000 visitors a year to concerts and cultural events. According to the Canada Lands website, about 1,400 sports teams play at the 485,000 sq. ft. Hangar sports complex. By the time Canada Lands’ plan is fully realized, the government’s property manager says 119 hectares — an area about … [Read more...] about Could Downsview — one of the city’s last remaining blank canvases — be Toronto’s next ‘it’ neighbourhood?
caption President Donald Trump source Getty Images/Pool National Economic Council Director Gary Cohn, who was Trump’s top economic adviser, is resigning in the coming weeks. A person who has advised Trump on economic issues told Business Insider that Larry Kudlow is the favorite to replace Cohn. This person views Mick Mulvaney, the White House budget chief, as a dark-horse candidate. Other names that have been floated include Peter Navarro, the director of the White House Trade Council. Trump’s pick for the position could be a big indicator for the future of his economic policy. Speculation swirled Wednesday over President Donald Trump’s choice to replace Gary Cohn as his top economic adviser, as observers say Cohn’s replacement could provide a significant clue to the future of the Trump agenda. “The president’s got a number … [Read more...] about Trump’s pick to replace Gary Cohn will tell you a lot about the direction of the White House
The US federal government is exploring the idea of building its own 5G wireless network infrastructure, according to documents obtained by the news website Axios. A proposal says that China’s “dominant position” in 5G network infrastructure poses a threat to the US and that a nationalized 5G network would combat that. Private companies like Verizon and AT&T have always built and operated wireless infrastructure in the past. The move would be unprecedented, and wireless companies are already coming out against the idea. The National Security Council is pitching the idea of having the United States government build the infrastructure for the coming 5G evolution in wireless communications, according to documents obtained by the news website Axios. A nationalized wireless network would be unprecedented for the United States, where wireless communication infrastructure is usually … [Read more...] about The Trump administration is exploring a nationalized 5G wireless network — which would throw the future of the wireless industry into question