Federal Budget (U.S.) Deficits

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  • TOKYO, Dec 21- Japan plans to reduce its deficit-financing bond issuance for fiscal 2016 to below 30 trillion yen to rein in the country's massive public debt, its lowest level in eight years, government sources said. Overall new bond issue for the fiscal year ending March 31, 2017 is expected to be reduced to 34.43 trillion yen, also the lowest since fiscal 2008,...

  • *House, Senate pass $1.8 trillion bill, Obama signs it. WASHINGTON, Dec 18- Brushing aside concerns about deepening the budget deficit, U.S. lawmakers approved $1.8 trillion worth of federal spending and tax breaks on Friday in a rare case of bipartisan action after years of damaging fiscal fights in Congress. "I think the system worked" this time, President Barack...

  • WASHINGTON, Dec 18- Brushing aside concerns about deepening the budget deficit, U.S. lawmakers approved $1.8 trillion worth of federal spending and tax breaks on Friday in a rare show of bipartisan cooperation after years of damaging fiscal fights in Congress. The Senate voted 65-33 to approve sweeping legislation that averted a government shutdown, locked...

  • WASHINGTON, Dec 18- Brushing aside concerns about deepening the budget deficit, U.S. lawmakers approved $1.8 trillion worth of federal spending and tax breaks on Friday in a rare show of bipartisan cooperation after years of damaging fiscal fights in Congress. The Senate voted 65-33 to approve sweeping legislation that averted a government shutdown, locked...

  • MOSCOW, Dec 18- The International Monetary Fund said on Friday it was concerned by a debate in the Ukrainian parliament that effectively amounted to a rejection of the government's proposal for a new tax code and budget for 2016.. "Approval of a budget consistent with the program objective of reducing the general government deficit to 3.7 percent of GDP is a key...

  • *Legislation now goes to the Senate. WASHINGTON, Dec 17- A massive bill that extends billions of dollars in tax assistance to businesses and expands the budget deficit won U.S. House of Representatives approval on Thursday in the closest thing to a grand bipartisan tax bargain in years. The bill now goes to the Senate, where it will likely be voted on together with a...

  • WASHINGTON, Dec 17- A massive bill that extends billions of dollars in tax assistance to businesses and expands the budget deficit won U.S. House of Representatives approval on Thursday in the closest thing to a grand bipartisan tax bargain in years. The measure now goes to the Senate, where it will likely be voted on together with a $1.1 trillion spending bill...

  • China economy to grow 6.6-6.8 pct in 2016- top think-tank Wednesday, 16 Dec 2015 | 1:18 AM ET

    BEIJING, Dec 16- China's economy is likely to grow between 6.6 percent and 6.8 percent in 2016 from the current year, the Chinese Academy of Social Sciences, a top government think-tank said. The forecast was made in the think-tank's Blue Book on China's economy that was released on Wednesday. The government may modestly expand its budget deficit next year to...

  • SYDNEY, Dec 15- Australia's government on Tuesday forecast its budget deficit would swell to A $37.4 billion in the year to June as falling prices for key resource exports open a gaping hole in tax revenue. Treasurer Scott Morrison predicted the shortfall for 2016/ 17 would be A $33.7 billion. The data marks the first major financial stumbling block for Prime...

  • U.S. budget deficit widens to $65 billion in November Thursday, 10 Dec 2015 | 2:00 PM ET

    WASHINGTON, Dec 10- The U.S. federal government ran $65 billion into the red in November, up 14 percent from the same period last year, the Treasury Department said on Thursday. Receipts last month totaled $205 billion, while outlays stood at $270 billion. Accounting for calendar differences in the timing of benefits payments and budget receipts would yield a...

  • US STOCKS-Futures higher ahead of raft of economic data Thursday, 10 Dec 2015 | 7:21 AM ET

    Dec 10- U.S. stock index futures were higher on Thursday as Wall Street looked to break a three-day losing streak ahead of a raft of economic data. Brent futures are down more than 6 percent this week and having dipped below $40 per barrel there are renewed expectations it might test 2008' s low. *The Treasury Department is likely to post a budget deficit of $68 billion...

  • OTTAWA, Dec 9- Canadian Prime Minister Justin Trudeau said on Wednesday his government would see if it could stick to its target for budget deficits but stressed he would do what was necessary and responsible to attain the desired level of economic growth. Trudeau, who also expressed concern about the recent decline in crude prices, won an election in October...

  • SAO PAULO, Dec 9- Moody's Investors Service is studying Brazil's credit rating for a possible downgrade to junk status due to a deteriorating economy, widening fiscal deficit and increasing risks of political paralysis, the ratings agency said on Wednesday. Economic data last week showed Brazil's economy contracted 4.5 percent in the third quarter from a...

  • Dec 8- Connecticut lawmakers cut $350 million from the state budget to close a widening deficit on Tuesday and reduced corporate taxes to thwart criticism that the state is unfriendly to business. Tuesday's adjustment filled a projected $350 million budget gap in the current 2015-16 fiscal year. Connecticut operates a $40 billion two-year budget and is...

  • OTTAWA, Dec 7- The Canadian government's planned tax hike on the rich will not cover the cost of a promised middle-class tax cut, an official projection showed on Monday, increasing the likelihood the budged deficit will be higher than forecast. Finance Minister Bill Morneau, releasing the projection as he announced the new tax measures, repeatedly declined to...

  • OTTAWA, Dec 4- Canada's Liberal government, unveiling its plans at the start of the new Parliament, promised on Friday to pursue a fiscal plan "that is responsible, transparent and suited to challenging economic times." Liberal leader Justin Trudeau won a parliamentary majority in the Oct. 19 election promising to return Canada back into deficit in order to...

  • BUENOS AIRES, Dec 1- Argentina's primary fiscal deficit was 10.96 billion pesos in October versus a shortfall of 6.5 billion pesos a month earlier, the Economy Ministry said in a statement on Tuesday.

  • DUBLIN, Dec 1- Ireland slashed its year-end budget deficit forecast on Tuesday to 1.7 percent of gross domestic product from 2.1 percent, as the tax take in Europe's fastest growing economy far exceeded expectations in November. That would leave Ireland with a deficit close to half the 3 percent target set under its EU-IMF bailout in 2010, which rescued the...

  • BRASILIA/ SAO PAULO, Dec 1- Brazil's economy shrank 1.7 percent in the third quarter, deepening its worst recession in 25 years and starving President Dilma Rousseff's government of taxes as she struggles with a growing fiscal deficit and a vast corruption scandal. On an annual basis, Brazil's gross domestic product dropped 4.5 percent in the third quarter, the...

  • OTTAWA/ QUEBEC CITY, Nov 26- Canada's two most populous provinces gave better than expected budget updates on Thursday, as Ontario got help from the initial public offering of utility Hydro One Ltd and Quebec clamped down on spending. Total revenues are now seen at C $1.2 billion more than previously anticipated, but the biggest change came from revenues related...