schumer

What Is and Isn’t Currency Manipulation

Do you want to know what’s not currency manipulation? The People’s Bank of China observing the value of the yuan plummet as markets respond to Trump’s tariff frenzy is not currency manipulation. 

Do you want to know what is currency manipulation? The president of the United States imploring the Federal Reserve chairman to lower interest rates for the distinct purpose of reducing the value of the dollar is currency manipulation.

Thirty Years of Deficit Disaster

The national debt has just passed $14 trillion. It’s approaching the so-called “debt limit” of $14.3 trillion, and members of Congress face a vote on raising the limit that doesn’t limit. President Obama will no doubt stress his commitment to reducing deficits in his speech tonight, but it’s unlikely that he will propose any actual budget cuts or any serious entitlement reforms.

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