Photo of the Day: Kanye West at the White House

Photo of the Day: Kanye West at the White House

President Trump speaks during a meeting with rapper Kanye West in the Oval Office at the White House in Washington
KEVIN LAMARQUE/Reuters
By Yuval Rosenberg

This is 2018: Kanye West visited President Trump at the White House Thursday and made a rambling 10-minute statement that aired on TV news networks. West’s lunch with the president was supposed to focus on clemency, crime in his hometown of Chicago and economic investment in urban areas, but his Oval Office rant veered into the bizarre. And since this is the world we live in, we’ll also point out that West apparently became “the first person to ever publicly say 'mother-f***er' in the Oval Office.”

Trump called Kanye’s monologue “pretty impressive.”

“That was bonkers,” MSNBC’s Ali Velshi said afterward.

Again, this is 2018.

Number of the Day: $7 Million

NY mayor cites climate stance in endorsing Obama
Reuters
By The Fiscal Times Staff

That’s how much Michael Bloomberg is spending per day in his pursuit of the Democratic presidential nomination, according to new monthly filings with the Federal Election Commission. “In January alone, Bloomberg dropped more than $220 million on his free-spending presidential campaign,” The Hill says. “That breaks down to about $7.1 million a day, $300,000 an hour or $5,000 per minute.”

Chart of the Day: Boosting Corporate Tax Revenues

GraphicStock
By The Fiscal Times Staff

The leading candidates for the Democratic presidential nomination have all proposed increasing taxes on corporations, including raising income tax rates to levels ranging from 25% to 35%, up from the current 21% imposed by the Republican tax cuts in 2017. With Bernie Sanders leading the way at $3.9 trillion, here’s how much revenue the higher proposed corporate taxes, along with additional proposed surtaxes and reduced tax breaks, would generate over a decade, according to calculations by the right-leaning Tax Foundation, highlighted Wednesday by Bloomberg News.

Chart of the Day: Discretionary Spending Droops

By The Fiscal Times Staff

The federal government’s total non-defense discretionary spending – which covers everything from education and national parks to veterans’ medical care and low-income housing assistance – equals 3.2% of GDP in 2020, near historic lows going back to 1962, according to an analysis this week from the Center on Budget and Policy Priorities.

Chart of the Week: Trump Adds $4.7 Trillion in Debt

By The Fiscal Times Staff

The Committee for a Responsible Federal Budget estimated this week that President Trump has now signed legislation that will add a total of $4.7 trillion to the national debt between 2017 and 2029. Tax cuts and spending increases account for similar portions of the projected increase, though if the individual tax cuts in the 2017 Republican overhaul are extended beyond their current expiration date at the end of 2025, they would add another $1 trillion in debt through 2029.