GOP senators say bipartisan group has infrastructure deal
Republican senators who are negotiating within a bipartisan group of 10 senators say they have reached a tentative deal on the size of an infrastructure package and how to pay for it.

The emerging deal would spend only a fraction of the $4.1 trillion investment President Biden has called for and would not raise taxes, which could make it a tough sell within the broader Senate Democratic caucus. 

On Thursday, we learned that core inflation rose to its highest level in 29 years, and the federal budget deficit for the first eight-months of the year had hit its highest level ever. These things are, of course, closely linked.



U.S. Budget Deficit Grew to Record $2.1 Trillion in Fiscal Year’s First Eight Months, Fueling Inflation
The highest level of core inflation in nearly 30 years has been stoked by the record high budget deficit in the first eight months of the federal government’s fiscal year. The budget deficit grew to $2.1 trillion by the end of May, the Department of Treasury said Thursday. A year ago, the budget deficit stood at $1.9 trillion.