The federal budget deficit hit an unprecedented $3 trillion in August, with another month to go before the end of the fiscal year, according to estimates from the Congressional Budget Office (CBO). That figure amounts to $1.9 trillion more than the same period last year, and more than doub...
However, reserve status also has its drawbacks. These low borrowing costs can encourage public and private sectors to spend more frivolously, racking up debt as a result. The federal budget deficit is expected to reach around $4trn or around 20 percent of US GDP this year. Because of its ...
For example, in the fiscal year 2019, ended September 30, the “budget deficit” was $984 billion, according to the Treasury Department. This is a huge number, considering that these are the good times. But the government had to borrow an additional $1.2 trillion over the same period. In...
In Tunisia, a strong dollar and sharp rises in grain and energy prices are expected to widen the country's budget deficit to 9.7 percent of GDP this year from a previously forecast 6.7 percent, said the central bank governor Marouan Aba...
WASHINGTON (AP) — The federal government recorded a budget surplus in January. But so far this budget year, the total deficit is 77 percent higher than the same period a year ago. The Treasury Department said Tuesday that the deficit for the first four months of this budget year, which ...
US domestic debt ceiling crisis. Biden and House Speaker Kevin McCarthy had planned to meet again on Monday, as the clock ticks toward a possible government default next month. Biden has blamed the Republicans for being unwilling to entertain the idea of closing the federal budget deficit by ...
The deficit for fiscal 2020 is expected to hit $3.8 trillion, a record, according to a projection from the Committee for a Responsible Federal Budget. The current record for a fiscal year deficit is $1.41 trillion, set in 2009. The report comes as Congress and the Trump administra...
Fair enough! July 16 2023 Ruchir Sharma The trouble with American exceptionalism Deepening deficits now make the US one of the most fiscally irresponsible nations July 15 2023 US politics & policy New US shutdown risk looms as culture wars hit defence budget ...
By the administration's newly revised estimate, the 1992 federal deficit will reach $348.5 billion, 10 percent of a staggering national debt of $3.5 trillion, which itself is three and a half times the size it was just 10 years ago. This may still be an optimistic estimate, since the ...
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