The budget cuts domestic programs by $791 billion in the years 2016-2024, while it increases defense spending by $483 billion.
The House passed its version of the FY 2015 budget yesterday by a vote of 219-205, largely on party lines. No Democrat voted for the bill and six did not vote. All 219 yes votes came from Republicans, while 12 voted no with two not voting. The plan cuts federal spending by $5.1 trillion over 10 years without raising revenues.The budget cuts domestic programs by $791 billion in the years 2016-2024, while it increases defense spending by $483 billion. Both Medicare and the Supplemental Nutrition Assistance Program (SNAP) program would be turned into federal block grant programs for states to administer.As for agric...
Key Takeaways: Milk alone has not covered the full economic cost in any year since 2021: milk revenue fell short by $4.50, $2.15, $6.50, $1.27 and $2.34 per hundredweight in 2021 through 2025. Calf and cattle prices decided whether dairies cleared cost: cattle and other income lifted total rev...
Key Takeaways: Dry bulk markets are mixed with Capesize rates seeing solid gains while Panamax values slipped on a growing tonnage list. Supramax and Handysize vessels were stronger, though all sectors remain vulnerable to the seasonal dip in rates through Q4 and into Q1. Falling water l...
What You Need to Know Today: The Federal Reserve held interest rates steady at 3.75 to 4.0 percent Wednesday, with two officials dissenting in favor of a 25-basis-point increase. The Fed upgraded its assessment of economic growth from "solid" to "strong" but adopted a more patient approa...
