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The Latest Breaking News from Deficit

Alan Kohler: Jim Chalmers delivers a responsible budget, with no repair and no relief

The last time a new government brought down its first budget, in 2014, it was a disaster for all concerned.

The New Daily

Six graphs that explain the 2022 federal budget: rosy views mugged by reality

Australian treasurer Jim Chalmers’ main economic message is enjoy today because tomorrow is going to be tough

The Guardian - AU

Chalmers’ budget debut enlivens a ‘safe change’ agenda and lays the groundwork for more

Jim Chalmers promised a “bread-and-butter” budget, but he is unlikely to have disappointed Labor’s faithful by delivering it.

The New Daily

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Bulls bench takes a mob mentality in coming back to beat Celtics

It couldn’t have gone any worse for the starters out of the gate, but facing a 19-point deficit the reserves sparked a fire that Boston couldn’t put out. Now, what to do about the starters and the part-time mentality that has messed with their consistency?

Chicago Sun-Times

From water conservation to crop selection, how farmers can take action against drought

As climate change accelerates, many countries around the world are increasingly facing the risk of drought. Water scarcity has become one of the major constraints of food production in the 21st century, and a major threat for our current and future food security. In the Horn of Africa, four consecutive…

The Conversation

Chalmers braces for budget belt tightening

Treasurer Jim Chalmers has unveiled a budget that includes cost of living relief and down payments on election promises, but warns of hard decisions to come.

AAP

Alba Party advert 'blocked' by BBC as party decry 'democratic deficit'

ALBA have accused the BBC of “blocking” their party political broadcast – despite showing one earlier this year.

The National (Scotland)

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Budget deficit this financial year to be $36.9 billion

Treasurer Jim Chalmers has said the budget bottom line will be more than $40 billion better over the four-year forward estimates in total than previously forecast.

The Conversation

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

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

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Axios

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

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

The Independent UK

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

Roll Call

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.

Newcastle Herald

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

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

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Reuters

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.

The Independent UK

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

USA Today Sports Media Group

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.

Insider UK

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

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.

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