Mission District
fromSan Jose Spotlight
15 hours agoSan Jose budget proposal outlines millions in service cuts - San Jose Spotlight
San Jose's budget proposal addresses a $50 million deficit with service cuts but avoids layoffs.
#deficit
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#budget #budget-cuts #legislation #fiscal-policy #congress #tax-cuts #economic-growth #government-spending
SF politics
fromFortune
3 days agoInterest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook | Fortune
U.S. debt is projected to rise significantly due to increasing interest payments on past borrowing, surpassing economic growth.
UK politics
fromLondon Business News | Londonlovesbusiness.com
1 week agoWeak growth and rising costs push public finances to breaking point - London Business News | Londonlovesbusiness.com
The UK faces a £12.6bn deficit, with tax revenues failing to keep pace with public spending amid weak economic growth and rising costs.
Retirement
fromFortune
3 weeks agoU.S. government is spending $88 billion a month in interest on national debt, equal to its spending on both defense and education combined | Fortune
The U.S. national debt exceeds $39 trillion, with interest payments reaching $529 billion in the first half of the fiscal year.
Business
fromFortune
1 month ago'There is no silver lining in this trajectory': Budget watchdog warns of financial, inflation or currency crisis due to $39 trillion national debt | Fortune
U.S. national debt exceeds $39 trillion, prompting calls for a deficit-to-GDP benchmark of 3% to stabilize fiscal trajectory.
fromwww.npr.org
4 months agoThe DOGE mindset is still central to the Trump administration's agenda as 2025 ends
Earlier this month, billionaire Elon Musk, the one-time DOGE leader and Trump adviser, sat down with Katie Miller on her podcast to reflect on his time with the administration. He called DOGE's work "a little bit successful" but said he wouldn't do it again if given the chance. "We were somewhat successful, Musk said. "I mean we stopped a lot of funding that really just made no sense, that was just entirely wasteful."
US news
Canada news
fromwww.theguardian.com
5 months agoCarney survives two confidence votes on budget, quashing fears of winter election
Canada's minority Liberal government survived two budget confidence votes, enabling tens of billions in new spending while running much larger deficits amid heightened economic uncertainty.
Canada news
fromwww.theguardian.com
6 months agoCanada budget adds tens of billions to deficit as Carney spends to dampen Trump tariffs effect
Canada will run larger deficits due to a US trade war and weak domestic economy, increasing defence spending, reshaping investments, and reducing civil service.
US politics
fromFortune
7 months agoU.S. may have to refund half its tariff revenue as high-stakes court battle threatens to wreak havoc on the deficit and bond market
If the Supreme Court upholds a ruling that reciprocal tariffs are illegal, the federal government would have to refund half tariff revenue, worsening the deficit.
fromLondon Business News | Londonlovesbusiness.com
11 months agoThe Chancellor should scrap her fiscal rules if she is serious about growth - London Business News | Londonlovesbusiness.com
Public sector spending has continued to significantly exceed income in April, leading to a spending deficit covered by borrowing of £20.2bn.
UK politics
US politics
fromNew York Post
11 months agoGOPers in Congress need to stomp on the prima donnas and hang together - or they'll soon hang separately
Republicans must compromise quickly to pass Trump's budget amid significant pushback regarding national debt.
Potential tax increases on the wealthy may be necessary for passing the budget bill.
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