With split Congress, prospect for economic deals looks dim

WASHINGTON — With Democrats now in control of the House, President Donald Trump faces a tough test of whether he can forge compromises with a group of lawmakers who, he had warned his supporters, would wreck the U.S. economy.

The president on Wednesday floated the possibility of agreements with Democrats to boost spending on America's infrastructure and to limit drug prices. Yet the poisonous atmosphere in Washington, mandated federal spending limits and a potential duel over the government's borrowing authority make it difficult to forge any deals that would boost growth.

Over the next two years, most economic and market analysts foresee mainly entrenched gridlock in Congress. Many think the two sides will mostly maneuver for public favor while looking toward the 2020 presidential election year.

Must Read

Great Lakes no help for a struggling Trump on road to 270

Aug 15, 2016

Donald Trump needs a place to reset the electoral map, and he seems to be looking at the industrial heartland states on the Great Lakes.

Global stocks drift lower as investors await US data

Aug 16, 2016

Shares were lower across global markets on Tuesday in sluggish trading, while oil prices resumed gains

Dominican leader assumes 2nd term, pledges tech revolution

Aug 16, 2016

The president of the Dominican Republic has been sworn in for a second term as leader of the country boasting the best economic grown in Latin America and the Caribbean

Search

Obserworld delivers the most accurate and up-to-date world news for the global audience with a thorough research and in-depth interviews. Discover the world through Obserworld.

Contact us: sales[at]obserworld.com