All articles tagged with #deficit
President Emmanuel Macron named 33-year-old David Amiel as France’s new budget minister to roll out the 2026 budget amid a 5% of GDP deficit and a hung parliament, replacing Amélie de Montchalin; Amiel vows to improve budget delivery and crack down on tax evasion and welfare fraud.
The United States posted a record December budget deficit of $145 billion as government outlays exceeded receipts, underscoring ongoing fiscal pressures.
Italy's Parliament approved the 2026 budget, which includes deficit reduction measures aimed at lowering the deficit to 2.8% of GDP, in line with EU requirements, despite criticism from opposition parties about austerity and its impact on low-income groups.
Harvard University is facing a $113 million deficit despite receiving record-breaking donations this year, as it resists pressure from the Trump administration.
Fans of North Carolina football began leaving the game in the first quarter after Clemson took a 28-3 lead, reflecting a disappointing season for both teams, with North Carolina struggling and Clemson underperforming expectations. Coach Bill Belichick, who recently moved to college football, expressed optimism about future recruiting efforts amid ongoing challenges.
Republican lawmakers who previously criticized rising deficits now face criticism for supporting a Trump-era bill that significantly increases the national debt, with Democrats attacking their inconsistency and Republicans defending the bill's long-term economic benefits.
The House passed Trump's tax and spending bill, sparking outrage among Democrats due to its implications for increased immigration enforcement, cuts to social security, and a significant rise in the deficit, with critics calling it a 'corrupt kleptocracy.' The bill also intensifies deportation efforts and cuts social welfare programs, while adding $3.3 trillion to the national debt.
The article discusses the mixed reactions to Donald Trump's proposed tax and spending bill, which aims to make tax cuts permanent, fund deportations, and cut social programs like Medicaid and Snap, with supporters praising its fiscal responsibility and critics warning it will increase the deficit and harm social safety nets.
The recent GOP bill is causing concern in the bond market due to its projected increase in the deficit and national debt, leading to higher interest rates, a downgrade in US debt, and potential economic instability, reflecting widespread fears about its long-term fiscal impact.
Senate Republicans are close to passing a large tax and spending bill that extends many of Trump's previous tax cuts and increases spending in certain areas. However, experts like Citi's Nathan Sheets believe the bill will have minimal impact on the already large US deficit and won't significantly boost economic growth, which is more likely to be influenced by deregulation and trade policies. The bill's effect on the deficit is expected to be negligible, with the overall fiscal picture remaining large regardless.
The Senate began debate on a Republican policy bill that includes tax cuts, increased military and border security spending, and significant cuts to healthcare programs, with ongoing disputes over its cost, support, and potential impact on Americans' health coverage, amid procedural maneuvers and political disagreements.
Senate Republicans are using a controversial accounting tactic to significantly reduce the estimated cost of their domestic policy bill by changing the budget baseline, which has sparked opposition from Democrats and concerns about setting a new precedent in budget procedures.
Senate Republicans are using a controversial accounting tactic to significantly reduce the estimated cost of their domestic policy bill by changing the budget baseline, which has sparked opposition from Democrats and raised concerns about budget transparency and precedent.
The Republican reconciliation bill is projected by the CBO to increase the US deficit by nearly $3.3 trillion from 2025 to 2034, though Senate Republicans and the White House dispute this estimate, with the White House claiming it will reduce the deficit by $4.9 trillion over the next decade.
Senate Republicans are using a controversial accounting tactic to significantly reduce the estimated cost of their domestic policy bill by changing the baseline for budget calculations, which has sparked opposition from Democrats and raised concerns about precedent and fiscal transparency.