budget deficit

California Governor Gavin Newsom (D) has put forth a proposal to halt new enrollments of undocumented immigrants in a state-funded healthcare program as a strategy to address a $12 billion deficit. What Happened: Newsom unveiled his nearly $322 billion state spending plan for the upcoming fiscal...

The U.S. federal spending hit a record-breaking $603.4 billion last month, despite the efficiency drive led by Tesla CEO Elon Musk. What Happened: Despite Musk’s efforts to streamline government operations through his Department of Government Efficiency (DOGE), U.S. federal spending has...

Greg Valliere, the Chief U.S. Policy Strategist for AGF Investments shared his insights on President Donald Trump‘s tariff strategy and its potential repercussions on the market. What Happened: On Tuesday, Valliere weighed in on Trump’s recent tariff implementation and its potential...

The Canadian government has announced several new tax increases in the latest budget released this week to cope with its debt. The country’s capital gains tax will spike to 67% for earnings surpassing $250,000 in the year. This establishes Canada as the nation with the world’s highest...

Moody's Investors Service has downgraded the outlook on the U.S. government's ratings from stable to negative. The Friday decision underscores growing apprehensions about the nation's ability to manage its finances in an environment of escalating interest rates and substantial...

Former Treasury Secretary Larry Summers took to Twitter on Tuesday to express his worst fears concerning the economy. He lamented the bloating fiscal deficit. What Happened: “For all of the post-financial crisis/pre-pandemic period, I feared secular stagnation and opposed fiscal alarmism,...

U.S. stocks were mixed despite the S&P 500 hitting new all time highs of 1,867.92. Rumors surrounding Russian military involvement in Ukraine naturally presented investor concerns and fear in the market. The market was boosted by a positive consumer sentiment and a steady existing-home...

Finally, we can rejoice in the fact that the news surrounding the United States’ money problems is positive. Who would have thought it would happen? Once again, the Congressional Budget Office has shrunk the 2013 budget deficit projection. It’s now down to $642 billion--$200 billion lower than...

Shouldn’t this be a bigger headline? Shouldn’t CNBC be focusing on this as much as it focused on the ValueAct/Microsoft (NASDAQ: MSFT) story on Monday? In case you missed it—and you probably did—Goldman Sachs (NYSE: GS) issued a report showing that after four years of a ballooning budget...

Futures Flat On Global Weakness U.S. equity futures were essentially unchanged overnight as fears over the health of the European economy and of growing credit risks in China spooked investors. Markets also await the interest rate decisions from the Bank of England and the European Central Bank...