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Updated: 5:08 p.m. ET

The Trump administration's new budget blueprint aims to quantify the president's nationalistic agenda in dollars and cents. The plan, released Thursday morning, calls for significant increases in military and border-security spending, along with corresponding cuts in many other parts of the government.

Episode 522: The Invention Of 'The Economy'

Mar 15, 2017

The Great Depression brought unemployment, hunger and anxiety, but it also brought us a great new acronym: The GDP. In the midst of the United States' worst economic downturn — the GDP, Gross Domestic Product — was born. It was a number and an idea that changed the way we talked and thought about the world.

Until the concept of GDP came around, no one really had figured out a way to measure what was happening, economically. There was no way to compare one year to another.

The Federal Reserve's Open Market Committee has voted 9-1 to increase its benchmark interest rate by a quarter of a percentage point and said it aims to raise interest rates twice more by the end of the year.

The only dissenting vote came from Neel Kashkari, president of the Federal Reserve's regional bank in Minneapolis, according to the Fed's statement.

Wednesday's move brings the federal funds rate to a range of 0.75 percent to 1 percent. The increase was expected by the market and is consistent with what Fed officials had been signaling.

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President Trump has made clear he doesn't like the alternative minimum tax, a complex federal levy that will hit some 4.8 million taxpayers this year.

A two-page tax return, filed by Trump for 2005 and revealed Tuesday, may suggest one reason. Because of the AMT, Trump was required to pay about $38 million in taxes on income of more than $150 million that year.

Without it, Trump's bill would have been a lot lower.

Two years ago, a U.N.-sponsored scientific agency declared that the popular weedkiller glyphosate probably causes cancer. That finding from the International Agency for Research on Cancer caused an international uproar. Monsanto, the company that invented glyphosate and still sells most of it, unleashed a fierce campaign to discredit the IARC's conclusions.

The IRS Data Retrieval Tool is down.

If those words don't send a shiver up your spine, it means you're not a high school senior or college student rushing to fill out the Free Application for Federal Student Aid, or FAFSA.

The FAFSA is the form — famously complicated and difficult to finish — that stands between many low-income students and the federal, state and institutional aid they need to pay for college.

Carlos Roberto Gomes spends his days leaning on a stone wall with a big, brightly colored sign around his neck.

His sign advertises the services that he offers to passersby on the downtown street where he earns his living.

It says that Gomes buys gold. He can fix you up with a tattoo or some body piercing.

Read the sign closely, and you'll also see that he might be willing to lop off your hair and purchase it from you.

Top-quality human hair from Brazil fetches a good price in Europe's salons, where it's sold as extensions and wigs, explains Gomes.

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