Budget Deficit

Joe Biden has purportedly settled on former Federal Reserve chairwoman Janet Yellen as his secretary of the treasury, according to the Wall Street Journal. 

Joe Biden, the Democratic presidential nominee, worked to forge a “grand bargain” with congressional Republicans on deficit reduction during the Obama years. As part of the effort, the former vice president openly advocated for putting entitlements programs, including Social Security, on the negotiating table.

Total federal debt held by the public rose 25 percent while Treasury yields fell 57 percent.

Former Vice President Joe Biden is running for the White House this year as an avowed champion of Social Security despite his decades-long effort to freeze spending for the program to cut the federal budget deficit.

The new Swedish 2021 budget has been revealed, with the government looking to spend more on foreign aid than on the country’s police force despite violent gang crime remaining a problem.

Democrat New York City Mayor Bill de Blasio’s wife has 14 staffers paid on a $2 million budget as New York City deals with a budgetary crisis of not being able to maintain city parks or make regular trash pickups.

The overal federal deficit came in smaller than expected in December although it is still nearly 12 percent higher than a year ago.

The government ran a surplus in September, bringing the full-year deficit down under the $1 trillion mark hit last month.

Tuesday, CNN “New Day” host Alisyn Camerota during a discussion about President Donald Trump and congressional leaders reaching a bipartisan budget deal said she wants the eight years of former President Barack Obama back. CNN’s John Avlon called Trump “Deficit

The CBO said it expects interest rates to be lower than it projected last year but even in the short term, its forecast is too high.

Several top German stakeholders, including the German Institute for Economic Research (IFO), have expressed support for the European Union opening an infringement process against the populist Italian government over deficit spending.

The European Union Commission has given the populist Italian coalition government 48 hours to address deficit spending concerns or face potential sanctions procedures if they fail to comply with the bloc’s rules.

Former House Speaker John Boehner (R-OH) predicted on Fox Business Network’s “Mornings with Maria”  that the mounting budget deficit will become a “major issue” over the next year. Boehner pointed out how the $22 trillion debt is “approaching” going up $1

European Commissioner for Economic Affairs Pierre Moscovici has defended the French government going over the EU three per cent deficit to GDP limit after attacking the Italian budget for approaching the same limit.

Spending jumped higher in 2018, so the budget deficit is higher despite a rise in tax revenue. There are no signs that this poses a risk to the Trump boom.

Director of National Intelligence Dan Coats warned the Senate Intelligence Committee on Tuesday about the risk posed by the national debt.

On Monday’s broadcast of CNN’s “New Day,” Representative Mo Brooks (R-AL) stated that the budget passed by Congress last week is the worst legislation he’s voted on in his time in Congress and no other bill is close. Brooks said, “Do

Treasury’s new report shows that boosting GDP growth to 2.9 percent would generate more revenue than is lost to tax cuts.

So long deficit neutrality?

Gov. Jerry Brown warned this week that despite record economic growth, California’s $122.8 billion budget will suffer its first deficit since 2012 due to spending growing twice as fast as the economy.

WASHINGTON–The government ran a $587 billion budget deficit for the just-completed fiscal year, a 34 percent spike over last year after significant improvement from the record deficits of President Barack Obama’s first years in office.

British Chancellor George Osborne has announced £3 billion of spending cuts and £1.5 billion of asset sales as the new Conservative government works to balance the budget. All this comes despite five years of coalition ‘austerity’ which still sees government spending

From Josh Zumbrun at the Wall Street Journal: The U.S. has come a long way since the days of trillion-dollar deficits, just a few years ago. The White House projects 2016 will have the smallest budget deficit in eight years.