a major drag on the budget. Interest costs in the first 10 months of the fiscal year totaled $956 billion, up 32% from 2023. The Federal Reserve’s aggressive interest-rate hiking campaign, aimed at quelling inflation, has made debt more expensive to issue for the federal ...
The December 2022 deficit was 299% larger than the December 2021 shortfall ($21.3 billion). In fact, with the exception of the pandemic year (2020), this was the biggest December deficit since 2011, when the US government was still trying to stimulate the economy out of the 2008 recession...
WASHINGTON —The U.S. Army will miss its goal to field theDark Eagle Long-Range Hypersonic Weaponduring the government’s fiscal year that ends Sept. 30, but is still aiming to deliver the capability by the end of the calendar year, according to the service’s acquisition chief....
While these executive orders may be subject to vigorous political and legal challenges, they could also have an outsized impact on the nature and quality of policymaking across the government. This could also apply to the governance of the Federal Reserve and thus to the heart of US economic ...
But the early legislative calendar this year is consumed with bitter divisions over government spending, including another proposed stopgap to avert a federal shutdown until March to buy more time to pass funding measures. Smith emphasized the extension of business tax breaks, whic...
The LCBO is a provincial government-owned corporation and one of the world’s largest buyers and retailers of beverage alcohol.
Decommissioned on 17 October 1947, she spent 26 years in mothballs before she was stricken from the NVR and later sold for scrapping in 1974. The government made $84,666.66 from her sale to the Boston Metals Co. of Baltimore, Maryland. ...
Government spending has been a notable contributor to US economic growth as well (chart 9), although on a net basis may be losing its lustre. There was a time when we used to beseech governments to chip in and help central banks prop up the economy, like aft...
Interest payments now rank as the fourth largest government program in spending, behind Social Security, Medicare and defense, according to CRFB. Defense spending totaled $821 billion in fiscal year 2023, according to the Treasury Department. The government spent more on net interest than ...
“I hope that we can get all our work done for fiscal year ’25 by December 20th when the (continuing resolution) expires,” Collins told CNN’s Manu Raju. Current government funding lapses in mid-December, giving congressional leaders and President-elect Donald Trump a choice on whether to...