The International Monetary Fund advised the Obama administration to consider raising taxes and reducing Social Security benefits as ways to contain the U.S. budget deficit and public debt. In its annual review of the U.S. economy, the IMF forecast that the economy will grow 3.3% this year, and then not top 3% annual growth over [...]
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Source: Bloomberg.com
California Governor Arnold Schwarzenegger will seek “terrible cuts” to eliminate an $18.6 billion budget deficit facing the most-populous U.S. state through June 2011, his spokesman said.
Schwarzenegger, 62, who will introduce his revised budget plans on May 14, has said he won’t seek tax increases to bolster California’s finances. The Republican’s forecast for the [...]
Despite a substantial trimming of government bailout spending, the U.S. posted a record 18th straight budget deficit in March.
The government spent $65.39 billion more than it collected last month, the U.S. Treasury said in its monthly budget statement released Monday.
For the first half of fiscal 2010, the government ran a $716.99 billion deficit, compared [...]
The bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama.
Two-year notes sold by the billionaire’s Berkshire Hathaway Inc. in February yield 3.5 basis points less than Treasuries of similar maturity, according to data compiled by Bloomberg. Procter & Gamble Co., Johnson & Johnson and Lowe’s Cos. debt also traded [...]
Flights were grounded and trains suspended amid a nationwide general strike Thursday, as Greek police fought running street battles with anarchist youths in fresh and violent signs of anger at the government’s austerity plans.
Unions called a strike to protest wage and benefit cuts being put in place to trim Greece’s swollen budget deficit as the country [...]
