The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
President Donald Trump promised to eliminate the national debt during his campaign, but he said Friday that building up the military is more important.
Total public debt outstanding topped $22 trillion earlier this week, with nearly $2.1 trillion coming under Trump's watch.
When touting his plans to stimulate the economy, Trump insisted that the growth — which would come from tax cuts, less regulation and greater infrastructure spending — would offset debt and eventually eliminate the national IOU. However, Congressional Budget Office projections indicate that the budget deficit will only grow in the years ahead, pushing the debt ever higher and eventually reaching about 150 percent of GDP in the next 30 years.
Asked during a White House news conference Friday about the red ink, Trump said military spending has taken priority.
"But first I have to straighten out the military. The military was depleted," he said.
"If we don't have a strong military, you don't have to worry about debt, you have bigger problems," he added.
Trump also pointed out that his predecessor, Barack Obama, incurred more debt "than any other president combined," which isn't quite accurate.
Obama took office with a $10.6 trillion debt, which ran to $19.9 trillion by the time his second term ended in January 2017, a $9.3 trillion difference. The debt expanded under Obama in part due to fiscal stimulus the government enacted to pull the country out of the Great Recession.
Trump on Friday continued to tout the growth theme, saying it was evident in the reduction of the national trade deficit in November, the first time that had happened after five straight months of increases.
"Everybody said, what happened? Well, what's happening is growth," Trump said. "But before I can focus too much on that, a very big expense is military, and we have no choice but to straighten out our military."