Federal Budget (U.S.) Deficits

  • OTTAWA, March 19- Canada said on Tuesday it would issue nearly 20 percent more bonds in the coming fiscal year to help the Liberal government fund its spending programs, ahead of an October election. To help finance the wider deficit and maturing bonds, Canada plans to issue C $119 billion of bonds in 2019-20, up from an estimated C $100 billion in 2018-19, the...

  • When interest rates are low, there is less urgency about addressing the debt, says expert

    David Wessel, Brookings Institution, joins 'The Exchange' to discuss the U.S. federal deficit exploding to the largest level in history.

  • CBO: Tax cuts will only generate enough growth to offset 20% of cost

    CNB's senior economic reporter Steve Liesman breaks down the Congressional Budget Office's latest report on the effects of the tax cuts.

  • Why these two economists agree that deficits matter

    Arthur Laffer, who served on President Reagan's economic policy advisory board and is now Laffer Associates founder and chairman, and Bill Gale, former CEA senior economist during the first Bush administration and current Brookings Institution senior fellow, co-director of the Tax Policy Center, join "Squawk Box" to discuss the nuances of the U.S. deficits. They are joined by CNBC's senior economics reporter Steve Liesman and real estate mogul Sam Zell.

  • DUBAI, March 6- Moody's cut Oman's credit rating to junk, saying its outlook for the rating was negative and citing fiscal challenges in an environment of moderate oil prices. Oman's state coffers have been hit hard by a slump in oil prices in recent years, resulting in a wide budget deficit that it has struggled to tame. "The market needs to see some signs from Oman to...

  • *China sets GDP growth target of 6.0-6.5 pct vs 2018 goal of around 6.5 pct. *China raises budget deficit to 2.8 pct of GDP vs 2.6 pct in 2018. BEIJING, March 5- China sought to shore up its slowing economy through billions of dollars in planned tax cuts and infrastructure spending, with economic growth at its weakest in almost 30 years due to softer domestic demand and a...

  • *China sets GDP growth target of 6.0-6.5 pct vs 2018 goal of around 6.5 pct. *China raises budget deficit to 2.8 pct of GDP vs 2.6 pct in 2018. BEIJING, March 5- China sought to shore up its slowing economy through billions of dollars in planned tax cuts and infrastructure spending, with economic growth at its weakest in almost 30 years due to weaker domestic demand and a...

  • I wish China the 'best of luck' in reaching its NPC goals: Analyst

    Andrew Collier of Orient Capital Research says there are "a lot of games being played" with the fiscal deficit targets presented in China's National People's Congress, but says they are doing a "pretty good job" of handling a "difficult situation."

  • *China sets GDP growth target of 6.0-6.5 pct vs 2018 goal of around 6.5 pct. *China raises budget deficit to 2.8 pct of GDP from 2.6 pct last year. Sources told Reuters earlier this year that China would cut its 2019 growth target to 6.0 to 6.5 percent from the 2018 target of around 6.5 percent as global and domestic demand ebbed and a trade war with the United States...

  • *China sets GDP growth target of 6.0-6.5 pct vs 2018 goal of around 6.5 pct. *China raises budget deficit to 2.8 pct of GDP from 2.6 pct last year. *China sets CPI target at around 3 pct, unchanged from last year.

  • BEIJING, March 5- China has set its 2019 economic growth target at 6.0 to 6.5 percent, Premier Li Keqiang said in his annual work report on Tuesday, lower than last year's goal of around 6.5 percent. The government has set its 2019 target for consumer price inflation at around 3 percent and its budget deficit goal at 2.8 percent of gross domestic product, Li said at the...

  • Modern Monetary Theory (MMT) is gaining traction in American politics, energizing the progressive left and roiling deficit hawks. Stephanie Kelton, who advised Bernie Sanders' 2016 presidential campaign, explains the basics.

  • With big spending plans coming from potential Democratic candidates for president, we spoke with Stephanie Kelton, a proponent of Modern Monetary Theory, the economic rational cited by rising political stars like Rep. Alexandria Ocasio-Cortez D-N.Y.

  • CHICAGO, Feb 20- Illinois' new governor, J.B. Pritzker, on Wednesday proposed a nearly $39 billion fiscal 2020 general funds budget that he said will serve as a bridge to "a stable fiscal future" for the financially shaky state until it can change its income tax system. Earlier this month, his administration warned that the fiscal 2020 budget deficit was $3.2 billion,...

  • OTTAWA, Feb 20- The Canadian government will unveil its budget for the 2019/ 20 fiscal year on March 19, Finance Minister Bill Morneau said on Wednesday. The budget is the last before a federal election in October. The Liberal government, which has pledged to boost spending to invigorate an economy hit by low oil prices, forecast in October the 2018-19 deficit at C...

  • President Donald Trump

    "If we don't have a strong military, you don't have to worry about debt, you have bigger problems," the president said.

  • U.S. Treasury Secretary Steven Mnuchin leaves a hotel with members of his negotiation team on the way to high-level trade talks in Beijing on Feb. 14, 2019.

    The talks, scheduled to run through Friday, moved to a higher level on Thursday to include U.S. Treasury Secretary Steven Mnuchin, as both sides push to de-escalate a tariff war ahead of a March 1 deadline.

  • WASHINGTON, Feb 13- The U.S. federal government ran a $14 billion budget deficit in December as revenues sagged following last year's tax cuts even as the economy appeared strong, Treasury Department data showed on Wednesday. But Washington's accounts have run $319 billion into the red since the fiscal year began in October, compared to a $225 billion deficit...

  • WASHINGTON, Feb 13- The U.S. federal government ran a $14 billion budget deficit in December as revenues sagged following last year's tax cuts even as the economy appeared strong, Treasury Department data showed on Wednesday. Analysts polled by Reuters had expected an $11 billion deficit for the month and the gap was the latest sign of deterioration in the...

  • JERUSALEM, Feb 12- Israel's State Comptroller said on Tuesday it was examining whether there were any improprieties in the way the government arrived at figures showing it met its budget deficit target last year. Israel last month recorded a budget deficit of 2.9 percent of gross domestic product in 2018, in line with the Finance Ministry's target and...