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NYC Mayor Adams halts final round of budget cuts after slashing spending on illegals

2 months ago -

The Democrat mayor first unveiled the three-round budget cuts in the fall of last year. Under this plan, all city agencies would have to shave 15 percent of their budget in three months' time. This would offset an estimated $10 billion cost generated by providing shelter, food, medical care and legal services for the unlawful border crossers flooding the Big Apple.

The first two rounds of budget cuts – five percent each – were enacted in January and February ...

Volvo CUTS FUNDING to subsidiary Polestar, which produces electric vehicles

February 06, 2024 -

The company said in a statement that its Chinese partner Geely Holding "will continue to provide full operational and financial support to Polestar going forward." As a result, Volvo Cars will no longer provide further funding. The move, Volvo added, will allow the Swedish entity to focus on "developing and concentrating its resources on its own ambitious journey" – including its in-house EVs.

Volvo and Geely established Polestar as a stand-alone EV maker, separate ...

Bidenomics in shambles: Microsoft cuts 1,900 jobs in gaming market

January 29, 2024 -

(Article by Graham republished from WLTReport.com)

Microsoft is joining a growing trend of large companies laying off employees.

The layoffs will see 8% of their employees cut.

Microsoft to begin mass layoffs

It has begun

The economy will break this year

— ?0HOUR? (@0HOUR) January 25, 2024

Fox Business shares more:

Amazon, Google and Google’s parent company, Alphabet, have already laid off employees this year, as have banking titan ...

Biden’s budget request for fiscal 2025 includes $12 billion for student loan forgiveness

a month ago -

The proposed $12 billion is set to go to a new federal program called Reducing the Costs of College Fund that would support federal strategies to improve college graduation rates and make costs more affordable for students. (Related: Biden DID NOT wipe away debt via student loan forgiveness program – he only redistributed it to other taxpayers.)

Along with funding ways the executive can lower college costs and improve graduation rates, the $12 billion will go toward increasing ...

Congress passes ANOTHER stopgap spending bill, delaying long-term solution to budget crisis

November 16, 2023 -

By a vote of 336 to 95, with 209 Democrats and 127 Republicans supporting it, the House passed another stopgap government funding bill. Ninety-three Republicans and two Democrats were opposed to the measure.

The measure extends government funding through mid-January and now heads to the Senate, where a bipartisan group of supporters has expressed support for the stopgap bill.

The current bill gives lawmakers in both the House and the Senate more time to agree ...

Canada’s budget allots millions of dollars for “vaccine passports” until 2026, memo shows

August 03, 2023 -

A recently leaked memo from Health Canada dated March 23, nearly a year after vaccine passports were officially withdrawn from Canadian society, requested increased funding for Fauci Flu shot passports and tracing measures for the next three-plus years.

"The purpose of the funding is to ensure the continued provision of the Canadian COVID proof of vaccination credentials both as a health record and to facilitate mobility in the context of international travel as well ...

U.S. budget deficit climbs in May amid big government spending and falling revenue

June 14, 2023 -

The Monthly Treasury Statement showed a May shortfall of $240 billion, which is a full $66 billion over last May’s figure. This brings the cumulative deficit for the first eight months of this fiscal year, which started in October, to $1.165 trillion, which marks a rise of $426 billion over last year. The government has spent $4.16 trillion during this period while collecting just $2.99 trillion worth of revenue. In fiscal year 2022, in contrast, they spent $3.8 trillion while ...

Ford drastically cuts EV factory workforce as electric car sales plummet

18 days ago -

Ford began the year by cutting production of the F-150 Lightning following significantly weaker-than-expected sales growth in electric vehicles. While EV sales are growing in the United States, the pace is falling far short of the industry's ambitious projections, and many consumers interested in electric cars are instead turning to hybrids instead.

Ford sold just over 24,000 Lightnings last year, up 55 percent from 2022. But dealers are reporting slower sales and rising ...

DEBT SURGE ALERT: $8.9T government debt to mature, $1.4T budget deficit expected in 2024

February 14, 2024 -

The Federal Reserve has also been running down its balance sheet by $60 billion per month. The bottom line, experts said, is that someone will need to buy more than the said amount in U.S. government bonds. It is more than one-third of the U.S. outstanding federal debt and more than one-third of the country’s gross domestic product (GDP).

According to education platform Apollo Academy's Chief Economist Torsten Slok, this is going to be a particular challenge when the ...

Public NUMBS as government DEBT BOMB explodes to $33T, annual budget DEFICIT approaches $2T

September 22, 2023 - budget cuts by the White House or Congress. The government spending may be less than during the pandemic which was around $8.9 trillion but it is 33 percent higher than the pre-crisis level of $4.88 trillion.

ET reported that federal spending has totaled more than 24 percent of gross domestic product (GDP), fueled by Social Security, Medicare, and interest payments within the last 12 months. Also, revenues are down by about 10 percent, according to the Congressional ...

Austin descends into lawlessness following “defund the police” cuts targeting law enforcement

a month ago -

Reports indicate that the Austin Police Department is having trouble keeping staff on board, which we warned was happening at the height of the psychological operation known as the Wuhan coronavirus (COVID-19) "pandemic."

In some areas of Austin, entire neighborhoods are going unpatrolled for weeks at a time. Response times for 911 in Austin are also getting longer and longer, leaving residents without emergency help in times of need.

Speaking to Fox News, Austin Police ...

YouTube lays off 100 employees amid wider job cuts at parent Google

January 23, 2024 -

Multiple media outlets reported on Jan. 17 that the tech giant told employees at YouTube's operations and creator management teams of the job cuts via an internal memo. Their positions were reportedly being eliminated "to trim costs and bureaucracy as it embraces artificial intelligence (AI)." The teams provide support for YouTube content creators.

YouTube Chief Business Officer (CBO) Mary Ellen Coe, the author of the internal memo, wrote that Google has decided to eliminate ...

Month-over-month U.S. budget deficit rose by 50% in December as financial collapse looms

January 16, 2024 -

This deficit jump has sent total government debt above $34 trillion for the first time on record, with Treasury Department data showing that outstanding total public debt hit $34.001 trillion on December 29. The development did not come as much of a surprise as it surpassed $33 trillion just three months ago. Should the current pace continue, CNBC reports that 2024 will end with a deficit exceeding $2 trillion.

When you consider the fact that December is traditionally ...

BIDENOMICS: UPS cuts 12,000 jobs due to decreased shipping volume, tense union negotiations

February 01, 2024 -

The company said the mass layoff is part of a broader effort to "align resources" in 2024. This effort includes mandating staff work from offices, five days a week starting on March 4.

UPS also reported a 7.4 percent drop in average daily volume domestically and an 8.3 percent drop internationally. CEO Carol Tome said in a company earnings call discussing the fourth-quarter earnings report that the international softness was "heavily weighted" in Europe, and other factors ...

Protesting farmers in Germany force government to renegotiate planned cuts to their benefits

January 25, 2024 -

The farmers forced Berlin to shut down, after an estimated 10,000 farmers with over 5,000 tractors descended on the city and blockaded key roads into the German capital.

The German coalition government of the left-wing Social Democratic Party, the environmentalist Greens and the pro-business Free Democratic Party have already been forced to water down some of its policies.

As negotiations proceed, the farmers have temporarily suspended their protests and the coalition ...

BRAVE ACT: Brave Search cuts ties with Big Tech to ensure user privacy

May 08, 2023 -

Privacy-focused search engine Brave Search has completely removed all its third-party indexes like Bing, and will now rely solely on its proprietary index to fully achieve independence and provide a real alternative to Big Tech search engines.

When Brave Search was initially launched in 2021, it acknowledged its reliance on other indexes for approximately 13 percent of search queries. However, the company has since made substantial progress in reducing this dependency, ...

Biden’s “fiscally responsible” budget plan for fiscal 2025 requires borrowing $16 TRILLION over the next decade

a month ago -

The president claims his spending plan will trim deficits by $3 trillion over the next decade. But in reality, according to the Committee for a Responsible Federal Budget, "the level of borrowing under the president's budget would be unprecedented outside a war or national emergency." (Related: Biden's budget request for fiscal 2025 includes $12 billion for student loan forgiveness.)

Biden seeks to spend $7.3 trillion, an 18 percent increase over two years. For perspective, ...

Sen. Rand Paul to hold up any stopgap government budget bill that includes funding for Ukraine

September 25, 2023 -

Paul's opposition to additional foreign aid to Ukraine comes as Congressional leaders are working to reach an agreement to pass a continuing resolution to keep the federal government funded past the end of the current fiscal year on Sept. 30. (Related: CNN poll: MAJORITY of Americans do not want taxpayer dollars to fund Ukraine's war effort.)

"Today I'm putting congressional leadership and [President Joe Biden] on notice that I will oppose any effort to hold the federal ...

LAYOFF season continues: PayPal cuts off 9% of its global workforce – roughly 2,500 jobs

February 12, 2024 -

In a letter sent to employees, Chriss noted that the company’s headcount reduction will be "made through direct cuts and elimination of open roles" and will take place over the year. According to the new CEO, 2024 is a year that will be filled with "difficult but necessary decisions to get us where we need to go." (Related: They are calling this "layoff season.")

News outlet The Information reported that this latest round will let go of existing staff across multiple ...