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The Latest Breaking News from Deficit

So you want to cut $2 trillion from the federal budget - Roll Call

It’s the most wonderful time of the year: when Washington says it will cut the federal deficit. Easier said than done! Just ask the 2011 super committee, which had a mandate and bipartisan support yet failed spectacularly. For this podcast, we combine the powers of the Political Theater podcast with…

Roll Call

California Gov. Newsom Proposes 2B Budget Without Deficit

California Governor Newsom's 2 billion budget proposal addresses deficits, prepares for federal cuts, and focuses on key programs.

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Dollar Weakens on Yen Strength and a Larger US Trade Deficit

The dollar index (DXY00 ) Friday fell by -0.09%. Strength in the yen Friday undercut the dollar after Japanese Finance Minister Kato warned about excessive moves in the forex market after the yen tumbled to a 5-month low against the dollar on Thursday. The dollar fell to its low on...

Barchart

GOP quietly cuts IRS funding by $20B

The GOP assault on the revenue collecting agency's funding could exacerbate wait times and balloon the deficit

Salon

Dollar Falls on Yen Strength and a Larger US Trade Deficit

The dollar index (DXY00 ) today is down by -0.06%. Strength in the yen today is undercutting the dollar after Japanese Finance Minister Kato warned about excessive moves in the forex market after the yen tumbled to a 5-month low against the dollar on Thursday. The dollar fell to its...

Barchart

How did Saints use their running backs in Alvin Kamara’s absence?

An early scoring deficit made the Saints call an audible on which running back to lean on in Week 16. What's the plan moving forward?

USA Today Sports Media Group

Trump threatens EU with tariffs unless it makes ‘large scale’ purchase of US gas and oil

Europe is the largest importer of American gas and was expected to increase its purchases in the future

The Independent UK

A LeBron record. Xmas greetings from Mazzulla. Steph went 0 for 7. Thursday wasn't boring in the NBA

Thursday had a little of everything in the NBA

The Independent UK

Donald Trump tells EU to buy more US oil and gas or face tariffs

President-elect reignites fears of a trade war as he says bloc must make up its ‘tremendous deficit’ with US

The Guardian - UK

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Fortune

Moody's downgrades 7 French banks amid debt crisis and political chaos

Moody's downgraded the ratings of banks including BNP Paribas and Credit Agricole amid fears over France's debt situation.

AAP

Productivity slump worsens Australia's deficit dilemma

Australia needs to get productivity growth back on track to pay for structural spending increases and avoid endless deficits, economists warn.

The Guardian - AU

A predicted deficit will get the headlines but remember that budgets are about choices

Right now the government is choosing to deliver $50bn a year to the richest 10% of Australians for no discernible benefit to the nation

Kiplinger

Will the TCJA Estate and Gift Tax Provisions Really Sunset?

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AAP

Budget blues in the most populous state as rates weigh

Government finances are wobbling in Australia's most populous state as stubbornly high interest rates weigh on home building and consumer spending.

The Conversation

If Treasury forecasts are right, it could be a decade before Australia is ‘back in black’

After two successive surpluses, the federal budget will be back in deficit in 2024–25, according to the much-anticipated budget update released on Wednesday.

The Conversation

A return to balanced budgets is a decade away, mid-year update says

The federal budget is headed for a deficit of $26.9 billion this financial year – $1.3 billion better than the estimate in May – but in the following three years the budget is forecast to be deeper in the red than earlier forecast.

The Guardian - AU

Federal budget $27bn in the red and won’t return to balance for a decade, Myefo forecasts

Budget downgrade blamed on Australian economy being hit harder than anticipated by higher interest rates, cost of living pressures and global uncertainty

The Conversation

Three possible futures for the global economy if Trump brings in new trade tariffs

The last time Donald Trump was US president, he entered trade wars with China and Europe. But despite his bravado and tariffs, the US trade deficit did not improve.

Top News

Rep. Moore Leads DOGE Caucus To Cut Federal Deficit

Rep. Blake Moore leads the bipartisan DOGE Caucus to enhance government efficiency and reduce the federal deficit through innovative bipartisan efforts.

The Guardian - AU

Jim Chalmers says Coalition’s nuclear plan represents $4tn hit to economy by 2050

Federal treasurer also reveals mid-year budget update out this week will show bigger deficits than May papers

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