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With increased expenditures and decreased tax revenues, the debt owed by the US federal government is expected to exceed the GDP of the US in 2021, according to a government analysis.On Wednesday, the Congressional Budget Office released the updated figures showing that the federal government’s debt is projected to be 104% of the size of the economy in fiscal year 2021. 2021 is expected to be the first time since 1946 that the amount of debt is larger than the size of the economy.The CBO’s projection shows that the debt is expected to remain larger than the size of the economy through the upcoming decade.For several decades following World War II, the amount of debt the US owed relative to the size of the economy decreased, bottoming out in 1974 at 23%. The US debt began increasing in the 70s and 80s as balanced budgets became more of an exception. The last time the US had a balanced budget was in 2001. While the US debt burden decreased for most of George W. Bush’s presidency, it began to skyrocket amid the last recession.The CBO says that while 2020 saw a slight decline in revenue, the year saw a massive increase in government spending amid the coronavirus pandemic.To see the full analysis, click here. 1231

With home-court advantage taken out of the equation this year because of COVID-19, the NBA playoffs look nothing like they once did. And on Wednesday, the season took yet another dramatic turn with at least one team boycotting the championships.The Milwaukee Bucks boycotted their game to protest the shooting of Jacob Blake in Kenosha, Wisconsin. It raises the question: what does this mean for the current moment of racial reckoning the nation has found itself in?Dwight Lewis, an activist during the civil rights movement, says it's about more than one game or any sport in particular."Sometimes you have to do things to get attention and say, ‘I can’t take this anymore. I’m mad as hell and I’m not going to take it anymore,’" the now 72-year-old activist explained.For athletes and teams in the national spotlight, it's about using their platform to get the country to pay attention."If you don’t speak out now, what are people going to say about you? That’s what was great about what the Bucks did," he added.Professional athletes using their platforms to protest racial inequality is nothing new. The first time it happened was during the 1968 Olympics when two African American runners raised their fists during the national anthem to call attention to the civil rights campaign.Lewis says decades later professional athletes are still harnessing the power that comes with their position to help enact change and move the national dialogue on race forward."This is 2020. We’re no better. Racism is still as American as apple pie, unfortunately. So, what did we do to keep these people from not wanting to walk off the basketball court or the football field? What did we do?" 1690

When you leave the big cities and head out to lesser populated areas of the United States, you realize President-elect Joe Biden may have won but President Donald Trump still enjoys plenty of support. "Since I was 18, I voted for Democrats, every time, but this year I voted for Trump," Scott Will, a new Trump voter in Westmoreland County, Pennsylvania, said. "My dad, he is a Joe Biden fan. He is calling me and teasing me about," Will said jokingly. While Trump is projected to lose the 2020 election, he did set voting records. Thus far, Trump has received more than 10 million more votes than four years ago. That is more votes than any American presidential candidate in history, except Biden. CHANGING REGIONS POLITICALLY While he lost the election, Trump did improve his margins in several key areas around the country. In Kenosha County, Wisconsin, Trump did 3% better. In Miami-Dade County, Florida, Trump did `12% better. And in Mahoning County, Ohio Trump actually flipped this county for the first time since Eisenhower. For perspective, this county, which includes Youngstown, Ohio, went for the Obama/Biden ticket in 2008 by 30 points. "The funny thing here is Trump stole the Democratic message. Can the Democrats steal it back?" Paul Sracic, a political scientist at Youngstown State University, said. Sracic said in defeat, Trump's legacy maybe forever changing politically places like Youngstown. Sracic said old trade deals, like NAFTA, were particularly toxic in this part of Ohio and voters rewarded Trump for getting rid of it and promising old jobs would come back. "Trump didn’t create these voters, they were waiting for Trump," Sracic said.WILL THESE VOTERS RESPECT BIDEN? At Thanos Restaurant in Mahoning County, Ohio, diners here know how Trump changed this area's politics. Ken Morrow eats here twice a day. In 2016, he voted for Bernie Sanders. In 2020 he voted for Trump. "For me, it's confusing," Morrow said, commenting on the election results and Trump's refusal to concede. His advice to Biden? "We need a lot of good paying jobs around here, everything is gone," Morrow said. Every Trump voter we spoke with said they would respect Biden come January 20th."I am very conservative," Jean Hasey said. "He’s going to be my president because I'm an American and a patriot," Hasey added. But she said -- uniting the country may be a tall task. "I think it’s going to be hard, very very hard," Hasey added. 2447

Why are stocks falling again? President Donald Trump says it's because Democrats are gearing up to use their impending control of the House of Representatives to investigate him. As always, when it comes to the markets, the real answer is complicated.The Dow fell by more than 600 points on Monday, dragged down by investors' concerns about the tech sector and the rising dollar. The Nasdaq fell 2% and the broader S&P 500 fell 1.2%.Apple (AAPL) fell 5% after supplier Lumentum cut its earnings and sales forecast because of weak demand, and JPMorgan cut its target price on Apple's stock. That weighed on other technology stocks, including Amazon (AMZN) and Tesla (TSLA) -- down 4% -- as well as Facebook, which fell 3%. Google (GOOGL), Netflix (NFLX) and Microsoft (MSFT) were all down more than 2%.The strong dollar also weighed on stocks. The US currency surged to a 16-month high because investors fear the European economy could stall if no Brexit deal is reached this week. Prospects of another rate hike from the Fed next month have also helped lift the dollar. The rising dollar is a signal of a strong economy, but it hurts sales and profits for American companies that do business overseas.Though Trump blamed Democrats for the drop, the Dow had actually bounced back since the midterms, rising last week in its best showing since March. Wall Street tends to like stagnation in Washington, so investors are actually just fine with Democrats taking the House.As for what Trump termed the "prospect of presidential harassment," there is not much evidence the stock market will bat an eye if Democratic leaders in the House begin investigations into the Trump administration. Stocks rose before, during and after President Bill Clinton's impeachment. 1800

White House officials said Monday that the Trump administration is pursuing another legislative push on immigration, but when pressed said the effort would largely be the same as it has been trying unsuccessfully since last fall.The comments came in a call on Monday with reporters organized to back up a string of tweets from President Donald Trump over the weekend and into Monday pushing a hard line on immigration, sounding off on the Deferred Action for Childhood Arrivals policy, illegal immigration and Mexico.The call, held on the condition the speakers not be quoted by name, largely re-hashed the administration's talking points on immigration, calling provisions of US and international immigration law "loopholes" that human smugglers misconstrue to encourage would-be migrants to make the journey to the US. 838

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