Deficits
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The Congressional Budget Office is projecting that the government ran a $139 billion deficit in May. The Treasury Department will report on the May deficit at 2 p.m. EDT Wednesday. That's down from last year's deficit of $1.09 trillion and would be a significant improvement after four straight years of $1 trillion- plus imbalances.
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Sen. Bob Corker, (R-TN), shares his views on why the government should get its fiscal house in order through entitlement and tax reform, privatizing intelligence gathering, and implementing GSE reform.
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Something big has happened in the market. And Cramer thinks you probably haven’t heard about it.
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ATHENS, June 10- Greece reported its budget deficit was on track to meet targets set by foreign lenders, whose inspectors arrived in Athens on Monday to measure progress under the country's bailout program.
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T.J. Rodgers, Cypress Semiconductor CEO, explains why he think the Obama administration's tax and spend policies are actually prohibiting job growth.
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Donald Tusk, Poland's prime minister, , talks about how Poland should continue to avoid a recession, how it plans to tackle high unemployment and deficits and the increased trust in its sovereign debt.
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Pawel Tamborski, Poland's deputy treasury minister, describes how Poland is working on boosting infrastructure investment and lowering its deficit.
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Jack Bogle, The Vanguard Group's senior chairman and founder, explains why he believes there has to be "spending cuts" and an "increase in taxes" to balance the budget.
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CNBC's Rick Santelli explains why taxing the rich will not be enough to bridge the deficit gap.
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June 2- Paced by housing and energy, the U.S. economic recovery is likely to accelerate this year and budget deficit projections have declined as well. Unfortunately the European economy remains stagnant, though there is some evidence that stimulative policies are gaining traction in Japan. Around the world the idea of "austerity" is fiercely debated.
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David Stockman, OMB director under President Reagan, talks with CNBC's Rick Santelli about the nation's growing debt problem and why he believes it's the equivalent of "taxing the unborn."
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*Data shows Hungary left recession in first quarter. *Hungary allowed out of EU budget sin-bin. Then, to complete what may be Orban's best month since he took power in 2010, the European Commission ruled this week that Hungary can leave the Excessive Deficit Procedure, a kind of sin bin for EU countries deemed to be spending beyond their means.
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As a result of big taxes and big spending cuts, the "Golden State" now has too much money, reports CNBC's Mary Thompson.
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WASHINGTON, May 23- The wealthiest 20,000 U.S. farmers should pay more for taxpayer subsidized crop insurance, the Senate voted on Thursday, adopting a measure that blended deficit reduction, populism and farm program reform. It would expand by 5 percent in the Senate bill even as other farm, conservation and nutrition programs are cut by $24 billion over 10 years.
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WASHINGTON, May 20- The International Monetary Fund on Monday said the United States was getting carried away with a government austerity drive, offering some of the institution's bluntest criticism yet of Washington's rush to cut its budget deficit. But there is very little risk of similar turmoil will ensnare the United States anytime soon, Cottarelli said.
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France has a special responsibility as a euro zone heavyweight to take deficit cuts seriously, even though its budget deficit is above target, Bundesbank chief Jens Weidmann said in an interview published Sunday.
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BERLIN, May 19- France has a special responsibility as a euro zone heavyweight to take deficit reduction rules seriously, even though its budget deficit is above target, Bundesbank President Jens Weidmann said in an interview published on Sunday.
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*White House budget savings claims reduced in CBO estimate. WASHINGTON, May 17- Near-term U.S. deficits under President Barack Obama's 2014 budget plan would be higher than those forecast by the Congressional Budget Office this week but would be $1.1 trillion lower over the coming decade, CBO said on Friday.
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NEW YORK, May 16- U.S. companies are hiring more workers and home prices, stock markets and energy production are climbing. The Congressional Budget Office on Tuesday slashed its budget deficit forecast for the current fiscal year ending Sept. 30 to $642 billion, a massive $203 billion cut from its estimate in February.
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Discussing the problems the IRS and President Obama faces, with Jared Bernstein, Former VP Biden chief economist and Jim Pethokoukis, American Enterprise Institute.
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