Deseret News
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Jonathan E. Johnson, Overstock.com’s chairman of the board, left, shakes hands with founder and CEO Patrick M. Byrne during a ribbon-cutting ceremony for the company’s new Peace Coliseum office building in Midvale on Oct. 14, 2016. The project cost just under $100 million and occupies over 18 acres of land.
Nick Wagner, Deseret News
Overstock.com was already having a banner year amid conditions wrought by COVID-19 that fueled an enormous uptick in overall e-commerce activity and a particular interest in the furniture and decor inventory that is the specialty of the Utah online retailer as millions lived and worked through months of home isolation.
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Bill Clark/CQ-Roll Call, Inc via Getty Images
A Bank of America note says US government debt is not that high when measured correctly.
If you value the US economy like a company, using a discounted cash flow analysis, the debt to GDP ratio is just 0.7%, the lowest since 2004.
The bank cited research by former White House officials Larry Summers and Jason Furman, of Harvard.
The US national debt is measured at over $28 trillion, and for decades, it has been a source of concern and inhibition for lawmakers. The Republican Party tends to cite the runaway federal debt when it is not in possession of the White House, while Presidents Donald Trump and George W. Bush significantly addred to the debt when they held office.
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