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For more business and finance explainers, check out our Yahoo U page. For the federal government, “raise the roof” is anything but fun — it means things could spiral into disaster. It all concerns a legislative feature that has existed in American politics for over 100 years: the debt ceiling. As a mechanism to enforce prudence over government spending, Congress establishes a statutory limit on the amount of money that the federal government owes. When the government breaches that limit,… Source link

Unvaccinated Americans are still driving a surge in COVID-19 hospitalizations and deaths in various parts of the country, and one doctor believes that the country needs to appreciate the power of vaccines throughout history. “For us in the medical field and for the population in general, we forgot how bad these diseases are — how bad smallpox, how bad polio, how bad measles is — because they’ve been eradicated for the largest part in many parts of the world, especially the developing… Source link

Could you please feel outraged? Again? For the last 10 or 20 years, politicians, mostly Democratic, have been trying to point out some vast inequities in the U.S. tax system. In 2011, President Obama proposed the “Buffett rule,” which would require billionaires such as Warren Buffett to pay taxes at the same rate as middle-class workers. Buffett has long pointed out that he pays a lower tax rate than his secretary, because of the wide disparity in tax rates on regular income and on gains… Source link

The month-long process leading to final interim guidance from the U.S Centers for Disease Control and Prevention (CDC), following an authorization of Pfizer (PFE)/BioNTech’s (BNTX) COVID-19 vaccine booster shot has left some experts feeling queasy. “If you were paying attention to the play-by-play, it’s somewhat nauseating. It just feels weird and terrible,” said Dr. Aaron Carroll, a professor of pediatrics at the University of Indiana. Starting in August when President Joe Biden announced all… Source link

Just like a $1 slider, Jefferies restaurant analyst Andy Barish says restaurant stocks are too cheap to ignore…and it’s time to chow down. “Really it’s the damage done [during the pandemic] unfortunately to a lot of independent restaurants in the sector during the past 18 months of the pandemic that has caused a huge amount of capacity to be reset. So coming out of the pandemic, the large restaurant chains are very well positioned to take incremental market share in the form of better… Source link

Alibaba Group Holding Ltd (NYSE: BABA) is trading lower Friday amid continued Evergrande default concerns. Evergrande had an $83 million interest payment due Thursday for a bond that’s set to mature in March 2022. The company has not said whether or not it intends to make the payment. As of Friday morning, Evergrande had not made any announcement or filing to the Hong Kong exchange. The company will not default unless it fails to make the payment within 30 days. Alibaba is the world’s largest… Source link

Apple’s (AAPL) iPhone 13 line hits the market Friday, and it’s bringing impressive changes to the smartphones’ cameras, batteries, and performance. The lineup includes the pint-size iPhone 13 mini, the iPhone 13, the iPhone 13 Pro, and the hand-stretching iPhone 13 Pro Max. As with the iPhone 12 lineup, pricing for the iPhone 13 family runs from $699 for the entry-level mini to $1,099 for the entry-level iPhone 13 Pro Max. But this time around you’ll get more storage out of the mini… Source link

Congress is running out of time to resolve the government debt showdown and risks defaulting on its debt.  U.S. House of Representatives Democrats passed a measure earlier this week to fund the government through early December and suspend the nation’s debt limit through December 2022, but the proposal faces an uphill battle in the Senate, where GOP lawmakers have vowed to block it. Republicans feel it is the Democrats responsibility to raise the debt ceiling alone using budget… Source link

In this article we will take a look at the 10 stocks to buy and hold according to Bill Gates. You can skip our detailed analysis of Gates’ history, investment philosophy, and hedge fund performance, and go directly to 5 Stocks to Buy and Hold According to Bill Gates. Co-founder of the leading tech giant Microsoft Corporation (NASDAQ:MSFT), Bill Gates has put forth billions of dollars into stocks to fund the Seattle-based Bill & Melinda Gates Foundation Trust which is well-known as the largest… Source link

Gary Cohn, a key architect of former President Trump’s 2017 Tax Cuts and Jobs Act, has a new mission.  “We now need to get people back into the workforce and we need to force people in many respects to re-enter the workforce,” Cohn told Yahoo Finance Live. Cohn said he is worried the current shortage of labor threatens to undermine the ability of American businesses to compete at home and globally. The U.S. Department of Labor’s latest JOLTS report showed there are almost 11 million job… Source link