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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Poll: Will a sustained $100 oil crimp the global economic recovery?
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The collective bargaining process with public sector unions needs to be restructured to keep labor unions from “bankrupting states,” Sen. Ron Johnson, (R-Wisc.), told CNBC Wednesday.
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The high-stakes fight in Wisconsin over union rights could have far-reaching effects on electoral politics in other states by helping solidify Republican power for years.
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G20 finance ministers concluded meetings over the weekend in France where they highlighted the key role of exchange rates, monetary and fiscal policies in determining whether a country's policies lead to imbalances.
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Charles Kantor, Managing Director and Portfolio Manager of the Kantor Group at Neuberger Berman, explains why waiting for a market pullback may be a fool’s errand – and why he thinks the rally might have much, much more to go.
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Protesters who have descended on Wisconsin's Capitol in hopes of halting a Republican effort to end a half-century of collective bargaining rights for public workers steeled themselves for a long fight, buoyed by Democrats' decision to flee to avoid the measure's near-certain passage.
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Illinois Governor Pat Quinn Wednesday proposed a budget that largely depends on selling more debt to pay off a pile of bills that have left Illinois' finances the weakest among U.S. states.
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President Barack Obama says he's willing to work with Republicans to make changes to entitlement programs, like Social Security and Medicare, that threaten the nation's fiscal health
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Neither US political party is willing to make the choices needed to bring down the crippling US budget deficits, economist Nouriel Roubini told CNBC.
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President Obama's budget proposal resurrects a series of tax increases that were largely ignored by Congress when Democrats controled both chambers. Republicans, who now control the House, are likely to be even less receptive.
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The trade deficit widened in December, closing out a year in which America's trade gap ballooned by the largest amount in a decade.
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A new report says state tax revenues increased in the final three months of last year as the improving economy boosted income and sales taxes receipts.
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Those of us who advocate for wholesale income tax reform understand the quixotic nature of the fight. Our federal individual income tax system is so chock full of special beneficiaries that any action aligns an array of constituencies far too politically sympathetic to defeat.
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New Jersey Gov. Chris Christie will propose a further cut in the state's corporate tax rate during his budget address in February, the governor told CNBC Wednesday.
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New budget estimates released Wednesday predict the government's deficit will hit almost $1.5 trillion this year, a new record.
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Collectively, states have budget deficits of more than $130 billion, unfunded pension and healthcare plans of more than $1 trillion and billions of dollars of unpaid bills to public schools and universities, hospitals and social welfare programs...States are in crisis and floundering to find a solution.
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The economy has improved in the last six months, signaled by greater consumer spending, durables purchases and some signs of increased investment, Daniel K. Tarullo, Federal Reserve governor, told CNBC Friday, echoing what his boss, Chairman Ben Bernanke said on Thursday.
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Taking issue with FDIC Chairman Sheila Bair, the new Republican head of the House Financial Services Committee told CNBC Thursday that the Dodd-Frank financial overhaul law actually creates more uncertainty—not less.
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The Illinois House of Representatives passed a bill that raises the state income tax from a maximum rate of 3% to 5%. They also raised the corporate income tax...As painful as they are, we are in the position of having no choice and yet, these tax increases will not raise the expected amounts.
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The federal budget deficit narrowed slightly in December compared to a year ago, but the deficit for the entire year is still on pace to exceed $1 trillion.