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Federal Budget (U.S.) Deficits

  • The sobering deficit numbers, released Friday by the Treasury Department and the White House budget office, followed Senate passage Thursday night of a 10- year budget plan that shelves GOP concerns on deficits and debt in favor of a tax overhaul. President Donald Trump and his GOP allies on Capitol Hill promise this year's tax legislation will spark a burst of...

  • WASHINGTON, Oct 20- The U.S. budget deficit widened to $666 billion for the fiscal year 2017 as record spending more than offset record receipts, the Treasury Department said on Friday. The latest fiscal year, which ended Sept. 30, straddled the presidencies of Barack Obama, a Democrat, and Donald Trump, a Republican. Accounting for calendar adjustments, the 2017...

  • WASHINGTON— Treasury: US budget deficit rose to $666 billion in just-completed fiscal year, an $80 billion increase.

  • NEW YORK, Oct 20- U.S. longer-dated Treasury yields rose to session highs on Friday in the wake of the U.S. Senate's passage of a budget blueprint for fiscal 2018 which could add up to $1.5 trillion to the federal deficit over the next decade.

  • *Spot gold may be rangebound between $1,278 and $1,291/ oz- techs. The Republican-controlled Senate voted for the budget measure late on Thursday by 51- to-49, which would add up to $1.5 trillion to the federal deficit over the next decade in order to pay for proposed tax cuts. "The dollar is up on account of the Senate vote... which in turn could pave the way for...

  • *Spot gold may be rangebound between $1,278 and $1,291/ oz- techs. The Republican-controlled Senate voted for the budget measure late on Thursday by 51- to-49, which would add up to $1.5 trillion to the federal deficit over the next decade in order to pay for proposed tax cuts. "The dollar is up on account of the Senate vote... which in turn could pave the way for...

  • *Senate passes budget plan that could pave way for tax reform. By a 51- to-49 vote, the Republican-controlled Senate voted for the budget measure late on Thursday, which would add up to $1.5 trillion to the federal deficit over the next decade in order to pay for proposed tax cuts. Shares in New Zealand were flat after 13 gaining sessions, after the nationalist New...

  • ROME, Oct 19- Former Prime Minister Matteo Renzi said on Thursday that if he wins next year's election he will slash taxes and sharply raise Italy's budget deficit rather than lower it as European Union rules require. "We'll take the deficit back up to 2.9 percent, cutting taxes by 30 to 50 billion euros," Renzi, the leader of the ruling Democratic Party said in an...

  • DUBAI, Oct 19- Saudi Arabia's plans to sell state assets- including a stake in energy giant Saudi Aramco- are becoming even more important to its finances as a recession slows Riyadh's effort to close a budget deficit caused by low oil prices. Last December, Riyadh released a plan to abolish the deficit by 2020, cutting it from $79 billion or 12.3 percent of gross...

  • NEW DELHI, Oct 17- India is likely to stick to its fiscal deficit target of 3.2 percent of GDP, and may accelerate sales of government stakes in lenders and other companies as part of an effort to recapitalise banks, an adviser to the prime minister said on Tuesday. Many policy makers in New Delhi, including the head of a government policy think tank have suggested...

  • A ship is unloaded in Miami, Florida.

    Trump has applied labels such as a "disaster" and "horrible" to various U.S. trade deals, including Korus and NAFTA.

  • DUBAI, Oct 5- Saudi Arabia has told the International Monetary Fund that it is reconsidering the speed at which it imposes austerity steps to avoid slowing the economy too much and boosting unemployment, the IMF said on Thursday. Riyadh has been cutting spending while raising taxes and fees to curb a huge state budget deficit caused by low oil prices.

  • *Spot gold was unchanged at $1,274 an ounce at 0055 GMT. *The U.S. budget deficit is proving to be a major obstacle to the tax reform plan being offered by President Donald Trump and top congressional Republicans, with one leading Senate hawk saying a week after the plan was introduced that any enlarging of the fiscal gap could kill his support.

  • WASHINGTON, Oct 4- The U.S. budget deficit is proving to be a major obstacle to the tax reform plan being offered by President Donald Trump and top congressional Republicans, with one leading Senate hawk saying a week after the plan was introduced that any enlarging of the fiscal gap could kill his support. The main problem is that the federal government is...

  • Office of Management and Budget Director Mick Mulvaney

    White House budget chief Mick Mulvaney moves away from the principles that made him stand out in Congress.

  • *Analysts warn India could miss deficit target this year. NEW DELHI, Oct 3- India on Tuesday cut excise duty on petrol and diesel by two rupees a liter to protect retail consumers from higher global crude oil prices, a move analysts said could widen the country's fiscal deficit. "The cut in excise duty has modestly increased the likelihood of fiscal slippage this...

  • SANTIAGO, Oct 2- Chile's center-left government aims to reduce its fiscal deficit to 1.9 percent of gross domestic product next year despite a rise in spending, as an economic recovery boosts tax revenues, the finance minister said on Monday. A rebound in the price of copper, Chile's main export, is helping President Michelle Bachelet shore up public finances in...

  • SANTIAGO, Oct 2- Chile's center-left government seeks to reduce the country's fiscal deficit to 1.9 percent of gross domestic product next year as a recovery in economic growth stokes a sharp increase in tax revenues, Finance Minister Nicolás Eyzaguirre said on Monday. A recovery in the price of copper, Chile's main export, is helping President Michelle...

  • SAO PAULO, Oct 2- Brazilian stocks seesawed on Monday after posting their best quarter in eight years, as investors awaited further hints over President Michel Temer's efforts to pass market-friendly reforms. Temer's plan to streamline the social security system, a key measure for bringing Brazil's budget deficit under control, has been delayed by a...

  • Rep. Mark Walker, R-N.C.

    Republican leaders are lining up behind a tax plan that looks sure to increase the deficit, a plan that smacks of hypocrisy to some critics.