Posts tagged as:

budget

Difference Between Debt, Deficit, Taxes and Spending

May 25, 2011

in US debt, US economy, debt, deficits, financial education, sovereign debt, spending, taxes, terminology

With the U.S. debt ceiling becoming an ongoing economic issue for American politics, you may be confused about some of the terms you hear and read in the news – or worse, maybe you don’t even question them and you talk about “debt” and “deficits” interchangeably.
Taxes and spending sound equally bad too, but there are [...]

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Treasury Scrambling Ahead of Debt Ceiling Limit

May 4, 2011

in Timothy Geithner, US Treasury, US debt, USD, central banks, debt, financing, forecasts, money management, money supply, sovereign debt, special dates

The U.S. Treasury still expects it will hit its debt ceiling limit on May 16.  This week, Congress continues to debate the terms of any potential increase in the debt ceiling, while Geithner has taken action to initiate emergency measures by Friday in order to maintain current government spending levels below the debt ceiling.
These emergency [...]

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Obama Rescues States With Shadow Bailouts and Interest-Free Loan Extensions

February 9, 2011 · 3 comments

in Obama, Obama Effect, US economy, bailout, bankruptcy, debt, government, news and updates, politics, stimulus, unemployment

Now we know that a whopping 32 states are officially bankrupt, and that apparently, the US government has been engaged in shadow bailouts of these states, i.e., “giving them money under the table.”
In addition, all that money that states borrowed from the Federal government in order to continue to pay unemployment benefits?  Now they won’t [...]

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The US Will Never Again Run A Balanced Budget

April 13, 2010 · 10 comments

in US Treasury, US debt, budgets, central banks, debt, deficits, economy, international economy, money supply, news and updates, world order, world reserve currency

Thus spake the Congressional Budget Office on the long-term future of American fiscal integrity (or rather, the coming lack of it).  As Niall Ferguson reported in his piece for the Financial Times back in February,

“The long-run projections of the Congressional Budget Office suggest that the US will never again run a balanced budget. That’s right, [...]

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State of the Economic Union: How Will Obama Get Massive U.S. Budget Deficits To Budge?

January 27, 2010 · 2 comments

in 2010, GDP, January, Obama, US Treasury, US debt, US economy, budgets, debt, deficits, employment, fiscal year, government, news and updates, recession, special dates, stimulus, stimulus plan

The Obama administration sits between an economic rock and a political hard place.  Others might call it a contradiction.  Obama needs to cut spending, but he’s doing this at the same time that more spending is being introduced (on job creation, more troops in Afghanistan).  Slight cuts in some areas are supposed to offset increased [...]

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States With the Biggest Budget Holes

November 27, 2008

in US economy, deficits

As reported by CNBC, in order of greatest gap to lowest gap:
Arizona (deficit of $2.4 billion for the year)
California
Florida
Nevada
Rhode Island
Virginia
South Carolina
New York
New Hampshire
Alabama (deficit of $784 million for the year)
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