The U.S. federal deficit surged 156 percent in the year through June as expenditures jumped while revenues continued to weaken, according to the Department of the Treasury. The latest monthly Treasury statement (pdf), released on July 13, shows that the government posted a $228 billion budget deficit in June, up sharply compared to a budget…
Budget Deficit Increases 156 Percent as Expenditures Soar, Revenues Shrink
US Federal Debt Will Soar Despite GOP-Led Cost-Cutting Efforts: CBO
June 28, 2023
admin
Business & Marketscongressdebt ceilingeconomic policieseconomyFederal debtPolicies & ImpactsPoliticsSocial IssuesUSUS News
0 Comment
America’s public debt is projected to rise to record levels over the next three decades, according to a new Congressional Budget Office (CBO) analysis, which noted that the government’s finances have improved a bit thanks to the GOP-led debt ceiling deal but overall remain “challenging.” The new forecast, released on Wednesday by the non-partisan spending…
McCarthy Says Delayed Debt Ceiling Talks ‘Not In a Good Place’ Ahead of Tuesday Meeting
May 16, 2023
admin
bidencongressdebt ceilingeconomyExecutive BranchFederal debtPolicies & ImpactsPoliticstreasuryUSUS News
0 Comment
House Speaker Kevin McCarthy said on Monday that debt limit talks with Democrats and President Joe Biden are “not in a good place,” saying that Biden had delayed talks for 100 days. A debt ceiling meeting has been scheduled for 3 p.m. ET on Tuesday. The meeting was originally set for last Friday but was postponed. Adding…
How Will the Government Fix the Ever Ballooning Budget?
Commentary Sometimes there are signposts to what a government may be planning to do, and when it comes to the budget in Australia, the Grattan Institute is one. Its latest pointer is called “Back in Black” and is a submission on this May’s Federal Budget. As a centre-left think tank, sponsored by the Australian and…
30 Percent Chance of Government Failing Fiscal Goal of Reducing Federal Debt Over Next Decade: Study
With a little over a week before the federal government releases Budget 2023, a stress test of the current fiscal policy shows that Ottawa has a 30 percent chance of failing to achieve its core fiscal goal of reducing federal debt over a 10-year period, says a Fraser Institute study. The study, titled “Stress Testing the…
Government Interest Payments Will Cost Taxpayers More Than $1,300 per Person in 2022–23: Study
Canadian taxpayers will contribute more than $1,300 per person toward government interest payments for federal and provincial debts in the next year, for a total of $68.6 billion, according to a new study. On Feb. 2, the Fraser Institute, a public policy think tank, calculated Canada’s combined federal and provincial interest costs per person for…
Combined Federal And Provincial Debt Projected to Exceed $2.1 Trillion This Fiscal Year: Study
Canada’s combined federal and provincial net debt is expected to exceed $2.1 trillion in the 2022-2023 fiscal year, which is nearly double what it was 15 years ago, according to a new report. “Budget deficits and increasing debt have become serious fiscal challenges facing the federal and many provincial governments recently,” said the report authored by Jake…
The Senator Trying to Restore Fiscal Sanity
July 27, 2022
admin
American Rescue Plan ActARPAbig governmentFederal debtfederal spendinggovernment spendingMike Braunnational debtOpinionViewpoints
0 Comment
Commentary The record high inflation that is plaguing Americans is being fueled by out-of-control federal spending. The federal government has spent over $6 trillion on COVID-19 related pandemic stimulus measures. The most recent, American Rescue Plan Act (ARPA) was not even needed as most states are experiencing large surpluses. The national debt is over $30…
Over 60 Percent of Americans Blame Biden Administration for Red-Hot Inflation
July 20, 2022
admin
biden administrationBusiness & Marketseconomic policieseconomyEuropeFederal debtinflationMarketspersonal financerecessionRussia-Ukraine crisisRussia-Ukraine WarUSUS interest ratesWorld
0 Comment
A majority of Americans, 61 percent, blame the Biden administration for soaring inflation, which is currently at a 40-year-high, according to a new survey published by WalletHub on July 20. The survey was conducted online from July 4 to July 8 to gauge what people know about the interest-rate increases by the Federal Reserve (Fed) and how they impact consumers’…
Canadians’ Federal Debt per Person Grew by 35 Percent Under Trudeau Government: Study
Every Canadian’s share of federal debt has spiked by more than $12,000, or an increase of 35.3 percent, since Prime Minister Justin Trudeau came to office in 2015, a recent Fraser Institute study shows. The study compared the debt legacies of every Canadian prime minister since Confederation, looking at how much the federal debt increased or…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`