(Recasts headline, adds U.S. comment) LONDON, Oct 11 (Reuters) – China has won the artificial intelligence battle with the United States and is heading towards global dominance because of its technological advances, the Pentagon’s former software chief told the Financial Times.
The federal government is expected to run a deficit of $3.0 trillion this year, adding to a national debt that already totals more than $28 trillion. Politicians will be looking for ways to increase revenue (i.e., raise taxes) and reduce spending. Two of the most expensive federal spending programs are Social Security and Medicare.
Prices that producers get for final demand goods and services surged in August at their highest annual rate since at least 2010, the Labor Department reported Friday. The producer price index accelerated 0.7% for the month, above the 0.6% Dow Jones estimate.
Social Security will have to cut benefits by 2034 if Congress does nothing to address the program’s long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.