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The Latest Breaking News from Deficit

Treasurer to deliver a $42 billion dent to budget deficit

Treasurer Jim Chalmers will deliver on election commitments but emphasise spending restraint and preserving an improved fiscal position.

The New Daily

Budget deficit to halve this financial year but spending pressures mean boost will be short-lived

Jim Chalmers’ first budget to reveal $42bn improvement to bottom line across forward estimates but conditions will deteriorate after two years

The Guardian - AU

Alan Kohler: Deficits and debt are about politics, not economics

Chalmers' budget has no surpluses, only deficit and debt. His “big national conversation” needs to be about why that’s OK.

The New Daily

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Analysis: Biden sharpens final midterms pitch by ramping up rhetoric, touting economic gains

WASHINGTON — President Joe Biden is sharpening his final sales pitch for next month’s midterm elections, casting himself as fully in control of a solid economy even as economists and Republicans warn of a coming recession.

Tribune News Service

US budget deficit plunges to $1.38 trillion as pandemic aid unwinds

WASHINGTON — The U.S. budget deficit saw a record reduction for the 2022 financial year, a second straight annual drop that reflects the drying up of COVID-related aid spending alongside a surge in revenues propelled by wage and employment gains.

Tribune News Service

‘Mega MAGA trickle-down’: Biden sharpens final midterms pitch - Roll Call

President Biden is casting himself as managing a solid economy even as Republicans and economists warn of a coming recession.

Roll Call

Federal deficit was cut in half last year, Treasury Department says

But the road ahead looks more troubling for the nation's fiscal situation.

Axios

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Student debt forgiveness causes monthly deficit to jump 562%

The Treasury Department says that the federal budget deficit was 562% higher on a monthly basis compared with September 2021

The Independent UK

Deficit cut in half last year, but more red ink lurks - Roll Call

The federal budget deficit for the fiscal year that ended Sept. 30 fell to just under $1.4 trillion, a 50 percent drop from the prior year.

Roll Call

$12.5m budget deficit as pandemic, fire and fines take toll on coffers

This is the third consecutive budget deficit the council has recorded.

Newcastle Herald

Australia aims for 'responsible' budget after UK mayhem

Australia's Labor government will launch its first budget next week with warnings about global recession and tough spending choices at home, while still meeting the modest promises made to win election earlier this year.

Reuters

Japan's imports, exports balloon on energy costs, cheap yen

Japan has marked a trade deficit for the 14th month in a row, with exports and imports ballooning to record highs as the declining value of the yen added to the soaring costs of imported energy, food and other goods

The Independent UK

NFL Week 6 Power Rankings: No lead is safe!

Week 6 NFL power rankings! Here's how all 32 teams stand in a season where there's been as much scoring volatility as we've ever seen.

USA Today Sports Media Group

Nicola Sturgeon talks Scottish currency and EU membership as she publishes economic prospectus for independence

First Minister promises to 'openly and frankly' address issues like currency, debt, deficit and trade

Insider UK

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Bangkok Post

Revenue chief calls for tax measure rejig

Some long-standing tax deduction and tax benefit measures should be reviewed, says Revenue Department director-general Lavaron Sangsnit.

USA Today Sports Media Group

Halftime analysis of the Rams’ Week 6 matchup vs. Panthers

The Rams face a three-point deficit at halftime and have some serious work to do to get back in contention in the second half.

ABC News

Income tax changes ruled out this budget but push for new review into revenue gathers steam

The Treasurer may have ruled out making changes to the stage 3 income tax cuts in his first budget, but there is a growing push for more comprehensive tax reform from experts and the parliamentary crossbench.

Tribune News Service

Sam McDowell: Patrick Mahomes has mastered this art in the midst of some epic Chiefs comebacks

KANSAS CITY, Mo. — The deficit was 14, soon to be 17, and as Chiefs quarterback Patrick Mahomes shook his head and then jogged to the sideline, he thought of a strategy.

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The Times of India

Exports rise 4.82% to $35.45 billion in September; trade deficit widens to $25.71 billion

NEW DELHI: The country's exports rose by 4.82 per cent to $35.45 billion in September, even as the trade deficit widened to $25.71 billion, according to the data released by the commerce ministry on Friday.

The New Daily

Global warming puts Arabica coffee at risk, and we’re barrelling towards a crucial threshold

The livelihoods of millions of farmers depend on productive Arabica coffee. New research gives further impetus to urgently cut emissions.

The Conversation

Global warming puts Arabica coffee at risk, and we're barrelling towards a crucial threshold

Coffee may be a major casualty of a hotter planet. Even if currently declared commitments to reduce emissions are met, our new research suggests coffee production will still rapidly decline in countries accounting for 75% of the world’s Arabica coffee supply.

Manchester Evening News

GP on the facts you need to know about viral TikTok weight loss injections - results don't come as easily as you might think

The injections must be used in combination with a calorie deficit diet and increased exercise if patients are to see results

Reuters

Zelenskiy says increased donor support will help end Russian war sooner

Ukrainian President Volodymyr Zelenskiy said on Wednesday that increased financial support from international donors will help end Russia's devastating war in Ukraine more quickly, citing the need for $38 billion to close next year's estimated budget deficit.

The Hindu

India's debt ratio projected to be 84% of its GDP: IMF

According to official data released last month, the Central Government's fiscal deficit touched 32.6% of the annual target in the current financial year till August as against 31.1% recorded a year ago

Asharq Al-Awsat

Egypt’s Trade Balance Deficit Drops 28.7% in July

Egypt’s trade deficit declined by 28.7% year-on-year (YoY) in July, according to data released on Tuesday by the Central Agency for Public Mobilization and Statistics (CAPMAS). The monthly bulletin revealed that the deficit value of trade balance reached $2.7 billion in July, down from $3.8 billion for the same month…

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