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Federal Budget (U.S.) Deficits

  • *April fiscal spending up 3.8 pct y/y, revenue up 7.8 pct. BEIJING, May 12- China's fiscal spending rose 3.8 percent in April from a year earlier, slowing sharply from a 25.4 percent jump in March and adding to signs of cooling in the world's second-largest economy. China has kept its budget deficit at 3 percent of gross domestic product for 2017, the same as last year,...

  • RIYADH, May 11- A strengthening in Saudi Arabia's government finances has allowed the kingdom to stop drawing down its foreign assets to cover a budget deficit caused by low oil prices, finance ministry data showed on Thursday. Net foreign assets, which peaked at $737 billion in August 2014, shrank to $501 billion in March this year, raising concern in financial...

  • SACRAMENTO, Calif., May 11- California Governor Jerry Brown is set to revise his proposed budget on Thursday, as the most populous U.S. state faces slumping tax collections and uncertainty over whether the federal government will cut health care funding for the poor. The budget Brown proposed in January already required the first belt-tightening in years for...

  • BRASILIA, May 2- Brazil's economy will post growth of between 0.7 percent and 0.8 percent in the first quarter, turning the corner on a two-year recession, Finance Minister Henrique Meirelles said on Tuesday. Meirelles said the reform of Brazil's costly social security system, the main cause of a gaping budget deficit, is crucial to restore growth and create jobs...

  • RIYADH, April 27- Saudi Arabia's government is making faster than expected progress in cutting costs and that is the main reason for a stronger budget position so far this year than originally projected, a top official said on Thursday. The deficit was 26 billion riyals in the first quarter of this year, far below the government's projection of 56 billion riyals,...

  • WASHINGTON, April 26- President Donald Trump unveiled a one-page plan on Wednesday proposing deep U.S. tax cuts, many for businesses, that would make the federal deficit balloon if enacted, drawing a cautious welcome from fiscal conservatives and financial markets. Only Congress can make major tax law changes, and Democrats immediately attacked the...

  • CFRB President: Revenue-neutral tax reforms are more pro-growth

    Discussing tax reform expectations for the market and economy, with Maya MacGuineas, Committee for a Responsible Federal Budget president, and Terry Haines, Evercore ISI head of political analysis and managing director.

  • LONDON, April 25- British finance minister Philip Hammond avoided a potentially embarrassing slip-up before June's parliamentary election as he hit his budget deficit target for the 2016/ 17 financial year, but his fiscal challenge is likely to get harder. This was in line with a forecast set out in March by the country's budget watchdog, the Office for Budget...

  • WASHINGTON, April 22- Argentina will beat its first-quarter fiscal goal, the treasury minister said on Saturday, adding that the government slashed more than 10,000 jobs over the last year and a half. Speaking on the sidelines of International Monetary Fund meetings in Washington, Nicolas Dujovne said the government would best its target of a 0.6 percent...

  • LISBON, April 13- The Portuguese government rolled out an ambitious plan on Thursday to eliminate its budget deficit by 2020 after slashing the gap to its lowest level in at. Portugal's total debt is the third highest in the euro zone after Greece and Italy. The minority Socialist government, which came to power in late 2015, has surprised analysts by slashing the...

  • PARIS, April 12- France is on course to deliver this year its first budget deficit in a decade in line with EU rules, the outgoing government of President Francois Hollande said on Wednesday, eager to leave a legacy of sound fiscal management. The Socialist government has gradually, but steadily, reduced the deficit since Hollande took office in 2012, though Paris'...

  • Santelli Exchange: Fmr. Fed. Gov. on unwinding the Fed's balance sheet

    Fmr. Fed Gov. & Treliant Advisors Chairman, Mark Olson & CNBC's Rick Santelli discuss the Fed's balance sheet, tightening & the deficit.

  • BRASILIA, April 7- The Brazilian government on Friday widened its 2018 fiscal deficit target to 129 billion reais from 79 billion reais, highlighting the challenges President Michel Temer faces in rebalancing the country's depleted public accounts. Two years of deep recession have dragged down tax revenues and eroded government finances to the point that...

  • MOSCOW, April 7- Russia's first-quarter budget deficit was 350 billion roubles less than in 2016, Russian Economy Minister Maxim Oreshkin said on Friday.

  • MOSCOW, April 7- Russia ran a budget surplus of over 350 billion roubles in the first quarter of 2017, Russian Economy Minister Maxim Oreshkin said on Friday. Russia records a budget surplus as prices for oil, the country's key export, stay above a level of $40 per barrel factored into this year's budget. The government aims to keep the budget deficit at 2 percent...

  • President Donald Trump, Commerce Secretary Wilbur Ross.

    The two orders set the stage for Donald Trump to make good on his promises to make trade more fair for American workers and manufacturers.

  • *EU may end excessive deficit action against Lisbon. LISBON, March 31- While the European left is largely struggling where it holds power, Portugal's government alliance stands out as a remarkable exception; it is raising wages and gaining popularity and yet delivering the lowest budget deficit in living memory. The unlikely alliance of centre-left...

  • Republican U.S. presidential nominee Donald Trump speaks to the Detroit Economic Club at the Cobo Center in Detroit, Michigan August 8, 2016.

    The first commissions a report on trade practices that contribute to the trade deficit, while the second seeks better collection of anti-dumping and countervailing duties.

  • BOGOTA, March 30- Colombia's finance ministry increased its fiscal deficit target on Thursday to 3.6 percent of gross domestic product, up from the original 3.3 percent of GDP, as the country grapples with falling income and lower growth. "Added to the loss of income are interest payments estimated to go up to 434 billion pesos." The deficit increase comes despite...

  • Debt and deficits set to spiral

    The Congressional Budget Office warns that debt and deficits are going to explode in the next 30 years.