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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 Election Day right around the corner, Mattel has unveiled their latest addition to its "Inspiring Women" series - Susan B. Anthony.The toy company said that it wanted to honor Anthony for her "pioneering efforts and far-reaching impact" in the fight for women having the right to vote."On November 5, 1872, while protesting and leading the charge for women's voting rights, Susan B. Anthony made a defiant move," Mattel said on its website. "She voted in the presidential election and was arrested at her home in Rochester, NY."Because Anthony helped pave the way, the 19th Amendment was passed in 1920, which gave women everywhere the right to vote.Last week, the National Susan B. Anthony Museum and House unveiled the doll inside Anthony's home.In a press release, Deborah L. Hughes, President & CEO of the Anthony Museum, said they were delighted to hear from Mattel's design team about constructing a doll that would reflect "Susan B. Anthony's life and work."The doll's launch in 2020 makes it extra unique since it marks the 100th anniversary of the 19th Amendment passing, Anthony's 200th birthday, and the museum's 75th anniversary.The doll comes dressed in a floor-length black and lace dress, accented with glasses, and a lace collar fastened with a cameo brooch.The doll is available for a limited time only and sells for .99 on Mattel's website. 1378

White House chief of staff John Kelly says he will "absolutely not" apologize for his comments on Rep. Frederica Wilson, adding that he stands by his comments.President Donald Trump and the Florida Democratic congresswoman publicly fought over each of their accounts of the conversation the President had with the widow of a slain soldier. Following Wilson's criticism, Kelly had spoken in defense of Trump at the White House press briefing, where he also recounted his own experience from when his own son was killed in action.When defending Trump in the wake of the feud, Kelly claimed Wilson had boasted of securing " million" in federal funding to build a new FBI field office in Miami during the dedication ceremony for the building in 2015. He also called the congresswoman an empty barrel, saying her remarks focused more on her own actions than the heroism of the two FBI agents for whom the new building had been named. 939

With his pledge to save a major Chinese company from crippling US sanctions, President Donald Trump has delivered yet another twist in the trade clash with Beijing.His announcement on Twitter that he's working to give China's ZTE "a way to get back into business, fast" was a sudden shift in the US stance at the start of a big week for trade ties between the world's top two economies.Washington and Beijing have threatened to impose tariffs on tens of billions of dollars of each other's products, fueling fears of a full-blown trade war.Talks in Beijing earlier this month aimed at dialing down the tensions failed to produce any major breakthroughs. But Chinese President Xi Jinping's top economic adviser is heading to Washington this week for more negotiations. American companies will also have a chance to publicly tell the Trump administration what they think about its planned tariffs on Chinese goods.Here's what to keep an eye on this week. 960

When Madame Tussauds Wax Museum reopens on Friday, President Donald Trump's wax figure will greet anyone who walks in, while donning a mask. 148