Deficits
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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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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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WASHINGTON, May 15- The U.S. Senate on Wednesday confirmed Marilyn Tavenner, a former nurse and hospital company executive, as the first full-fledged administrator for the Medicare and Medicaid healthcare programs since 2006.. Medicare program and Medicaid are also on the firing line for potential deficit reduction.
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CNBC's Rick Santelli explains the need for balance when deciphering budget deficits; natural gas supplies; and IRS snooping on conservative groups.
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Shrinking deficit productions are causing the Street to rethink the Fed's QE program, reports CNBC's Steve Liesman.
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The Treasury is criticizing senior IRS leaders for poor management of a policy that compromised the tax agency's political impartiality. And the Congressional Budget Office projects a deficit of $642 billion for fiscal year 2013, that's down $200 billion, reports CNBC's John Harwood.
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PARIS, May 15- European Commission President Jose Manuel Barroso said on Wednesday France needed to present a credible programme of structural economic reforms if the EU is to grant it two more years to bring its budget deficit down as promised.
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The U.S. government’s annual deficit is shrinking far faster than expected, and faster than many economists think is advisable for the health of the economy, the NYT reports.
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Penny Wong, Finance Minister of Australia, says the government took the decision to defer the return to surplus in order to protect Australian jobs and growth.
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Peter Anderson, CEO of Australian Chamber of Commerce and Industry says the government is asking the business community to pay more with this year's budget statement.
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*CBO estimates could sap Congress' urgency for fiscal deal. WASHINGTON, May 14- The U.S. deficit is shrinking considerably more quickly than previously thought, the Congressional Budget Office said on Tuesday in a report that could sap Congress' sense of urgency to find further budget savings.
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*New CBO estimates could sap Congress' urgency for fiscal deal. WASHINGTON, May 14- The U.S. deficit is shrinking considerably more quickly than previously thought, the Congressional Budget Office said on Tuesday in a report that could sap Congress' sense of urgency in finding further budget savings.
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May 14- The U.S. budget deficit is shrinking more quickly than previously estimated, the Congressional Budget Office said on Tuesday, which will likely help postpone the effective deadline for raising the U.S. debt limit.
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CNBC's John Harwood reports CBO has cut its fiscal 2013 deficit forecast to $642 billion from an earlier estimate of $845 billion.
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WASHINGTON, May 14- The U.S. budget deficit is shrinking considerably more quickly than previously thought and revenue growth will outpace spending increases over the next two years, the Congressional Budget Office said on Tuesday.
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ATHENS, May 14- Ratings agency Fitch upgraded its sovereign credit rating for Greece by one notch on Tuesday, citing progress in cutting its budget deficit and the risk of a euro zone exit receding.