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U.S. President-elect Donald Trump's plans to increase spending on infrastructure while cutting taxes would endanger public finances, Economics Nobel laureate Oliver Hart said on Wednesday. With much infrastructure in the United States in bad shape, increased spending could be good even if the details in Trump's plans were "not so impressive", he said. "But then also reducing taxes, I mean that is going to lead to all sorts of budgetary problems in the future," Hart told a news conference in Stockholm, along with the other winner of the Nobel Prize for Economics, Bengt Holmstrom.
MOSUL, Iraq (AP) — Islamic State militants launched an overnight attack against Iraqi security forces in the southeastern part of Mosul, a day after troops advanced deeper into that part of the city, Iraq's military said Wednesday.