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The Latest Breaking News from Deficit

A predicted deficit will get the headlines but remember that budgets are about choices

Right now the government is choosing to deliver $50bn a year to the richest 10% of Australians for no discernible benefit to the nation

The Guardian - AU

Will the TCJA Estate and Gift Tax Provisions Really Sunset?

Kiplinger

Budget blues in the most populous state as rates weigh

Government finances are wobbling in Australia's most populous state as stubbornly high interest rates weigh on home building and consumer spending.

AAP

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If Treasury forecasts are right, it could be a decade before Australia is ‘back in black’

After two successive surpluses, the federal budget will be back in deficit in 2024–25, according to the much-anticipated budget update released on Wednesday.

The Conversation

A return to balanced budgets is a decade away, mid-year update says

The federal budget is headed for a deficit of $26.9 billion this financial year – $1.3 billion better than the estimate in May – but in the following three years the budget is forecast to be deeper in the red than earlier forecast.

The Conversation

Federal budget $27bn in the red and won’t return to balance for a decade, Myefo forecasts

Budget downgrade blamed on Australian economy being hit harder than anticipated by higher interest rates, cost of living pressures and global uncertainty

The Guardian - AU

Three possible futures for the global economy if Trump brings in new trade tariffs

The last time Donald Trump was US president, he entered trade wars with China and Europe. But despite his bravado and tariffs, the US trade deficit did not improve.

The Conversation

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Rep. Moore Leads DOGE Caucus To Cut Federal Deficit

Rep. Blake Moore leads the bipartisan DOGE Caucus to enhance government efficiency and reduce the federal deficit through innovative bipartisan efforts.

Top News

Jim Chalmers says Coalition’s nuclear plan represents $4tn hit to economy by 2050

Federal treasurer also reveals mid-year budget update out this week will show bigger deficits than May papers

The Guardian - AU

Iowa State Overcomes 13-Point Deficit To Beat Iowa

Iowa State's thrilling comeback win over Iowa, led by Curtis Jones and Joshua Jefferson. Stay updated with AP college basketball for more news and alerts.

Top News

Why McLaren thinks it can overcome its 2025 wind tunnel deficit

McLaren believes that the reduction in wind tunnel time that it faces as a result of winning the Formula 1 constructors’ championship will not be as big a handicap as some think.

Motorsport

Taxpayers slugged as state's deficit rises to $1.4b

The Victorian government's $1.4 billion deficit in the mid-year budget update has forced it to dip its hand into taxpayers' pockets to fund critical services.

AAP

China Pledges Economic Stimulus Amid US Trade Tensions

China's economic response to trade tensions with the US includes boosting budget deficit and promoting domestic consumption.

Top News

ADHD can be diagnosed by looking at brainwaves – here’s the neuroscience behind it

Children with attention deficit hyperactivity disorder (ADHD) do not have a behavioural disorder, nor are they lazy, or lacking in manners and boundaries. Their brains mature in a different way, with different patterns of neurological activity and a number of neurochemical differences. For this reason, ADHD is considered to be…

The Conversation

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Texas Observer

TEA Exoneration of Mike Miles’ Charter Schools Leaves Questions Unanswered, Raises New Ones

An agency report challenging media stories overlooks the charter schools’ compliance with federal tax and state business laws, on the watch of the now-HISD superintendent, while revealing new out-of-state payments.

Benzinga

Peter Schiff Advises Biden To Do One 'Good Thing' Before His Term Ends: 'Sell All The Bitcoin' Held By The US

Influential economist Peter Schiff suggested on Monday that President Joe Biden sell all of the U.S.-owned Bitcoin (CRYPTO: BTC) before leaving office to help reduce the country’s ballooning budget deficit.

Benzinga

El Salvador Relaxes Bitcoin Rules To Seal $1.3 Billion Loan

El Salvador close to $1.3B loan deal with IMF, contingent on changes to Bitcoin policy and fiscal deficit reduction. President Bukele focuses on economic revival and foreign investment.

Benzinga

China And Europe Markets Advance, Gold And Dollar Tick Higher - Global Markets Today While US Slept

US markets closed lower due to tech shares and UnitedHealth's decline. Jobless claims rose, while trade deficit narrowed. Asia markets mixed, oil prices fell.

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The National (Scotland)

Scottish university boss resigns 'with immediate effect' amid £30m budget deficit

THE principal of Dundee University has resigned “with immediate effect” as the institution faces a funding deficit of some £30 million ...

International Business Times

US Trade Deficit Narrows In October As Imports Fall

The US trade gap narrowed more than expected in October, government data showed Thursday, as imports slipped more than exports.

Top News

French Lawmakers To Vote On No-Confidence Motion Against Government

French lawmakers vote on no-confidence motion against PM Barnier's government over budget disputes and political tensions.

The Conversation

ADHD medications affect children’s appetites. Here’s how to manage this

Attention deficit hyperactivity disorder (ADHD) impacts the ability to maintain attention to tasks. Often, it also involves impulsive behaviour – saying or doing things without stopping to think first – as well as hyperactivity.

Al Jazeera

French no-confidence motion: Is PM Barnier’s government about to fall?

French lawmakers introduced a vote of no-confidence against Michel Barnier’s administration over a budget dispute.

The Guardian - UK

Michel Barnier defends budget in TV interview as government faces no confidence vote on Wednesday – as it happened

Minority government of prime minister faces near-certain defeat in a no-confidence vote that could spark crisis

Reason

A Taxpocalypse of Rising Rates Is Coming For Americans if Congress Doesn't Act

Here's how expiring tax cuts could affect you.

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