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As leaders in Washington fail to make progress on a debt ceiling deal, Moody's Analytics is warning of disastrous implications for American jobs if the United States defaults on its debt for an extended period.

George Santos described criminal charges against him as a “witch hunt” in a defiant press conference following his arrest on Wednesday. The New York congressman spoke outside a federal courthouse after being arraigned on charges of fraud, theft of public funds and money laundering. “It’s a witch hunt,” he told a crowd of reporters. “I’m gonna fight my battle, I’m gonna deliver, I’m gonna fight the witch hunt, I’m gonna take care of clearing my name,” he said, adding that he was planning to run for reelection. The 34-year-old congressman for New York’s third district, who won his election after a campaign that was littered with lies about his past, was arrested shortly after 9am after turning himself in to authorities. In the 13-count indictment, federal prosecutors accused Mr Santos of lying on financial disclosure forms he filed to the House when he became a candidate, first by overstating his income from one job and failing to disclose income from another, and secondly by lying about his earnings from his company, the Devolder Organization. Prosecutors also allege that Mr Santos fraudulently used donations to his political campaign for his own benefit, spending “thousands of dollars of the solicited funds on personal expenses, including luxury designer clothing and credit card payments.” The indictment alleges that Mr Santos’s fraud began before his successful run for Congress, accusing him of running an unemployment insurance fraud scheme in which he applied for government assistance in New York while still employed by a Florida-based investment firm. “Taken together, the allegations in the indictment charge Santos with relying on repeated dishonesty and deception to ascend to the halls of Congress and enrich himself,” Breon Peace, the US attorney for the Eastern District of New York, said in a statement. Mr Santos pleaded not guilty to the charges and was released on a $500,000 bond following his arraignment, which lasted for around 15 minutes. His lawyer said that the congressman surrendered his passport to the court. Mr Santos could face up to 20 years in prison if convicted. Read More Here are the 13 counts New York Rep. George Santos faces George Santos pleads not guilty to duping donors, stealing campaign cash to burnish wealthy image George Santos pleads not guilty to 13 charges – live

Inflation remains “stubbornly high” and is no longer making much progress toward the Federal Reserve’s 2% target, a top Fed official said Wednesday, hours after price data for April were released

When Indiana Jones tells Marion Ravenwood "Trust me" in "Raiders of the Lost Ark," she tries to punch him in the face (again). Writers striking against the major studios have a pretty good idea how she felt. Because when studios say, "Trust us," Hollywood's talent has a long history that explains why they don't.

Adani Enterprises Ltd. is holding a board meeting to consider selling stock, in the wake of turmoil following

Altria Group Inc said on Wednesday it had reached an agreement on the terms to resolve at least

MALVERN, Pa.--(BUSINESS WIRE)--May 10, 2023--

Imagine being able to make a bet with this level of specificity: the Yankees’ Aaron Judge will hit a home run on the fourth pitch he sees in a given at bat, which will be a curveball spinning at a certain speed

New York’s attorney general says three companies accused of falsifying millions of public comments to support the contentious 2017 federal repeal of net neutrality rules have agreed to pay $615,000 in penalties to New York and other states

George Santos was released on a $500,000 bond after he was arrested and charged with fraud and money

Misleading claims about the gunman who killed eight people at a Dallas-area shopping center are swirling on Twitter, thanks in part to the platform's owner, Elon Musk

Google has disclosed plans to infuse its dominant search engine with more advanced artificial-intelligence technology