#deficit-and-cuts

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SF LGBT
fromLGBTQ Nation
16 hours ago

Trump's 2027 budget slashes "radical left" pro-LGBTQ+ housing & HIV programs - LGBTQ Nation

The proposed Fiscal Year 2027 budget includes significant cuts to services for LGBTQ+ individuals, particularly in HIV care and housing support.
US politics
fromwww.mediaite.com
21 hours ago

Larry Summers Reportedly Believes Trump's Economy Is on the Brink of Crisis

Larry Summers warns the U.S. economy is fragile and nearing crisis, with inflation risks underestimated by many analysts.
World politics
fromenglish.elpais.com
1 day ago

The opening bars of a geoeconomic funeral march

Economic uncertainty is high, with potential stagflation and recession risks due to geopolitical tensions and energy market disruptions.
Washington DC
fromTruthout
2 days ago

Trump Budget Boosts War Spending While Slashing Domestic Programs

The Trump administration's fiscal 2027 budget requests a 43% increase in defense spending and a 10% decrease in non-defense funding.
#new-york-city
NYC politics
fromUnHerd
1 day ago

Zohran Mamdani is pushing New York towards fiscal disaster

New York City's finances are severely strained, with spending outpacing revenue growth, leading to potential credit downgrades.
fromwww.amny.com
4 days ago
New York City

Op-ed | A responsible path forward for New York City's budget | amNewYork

New York City's budget process is a complex negotiation that impacts community investment and addresses fiscal challenges.
NYC politics
fromUnHerd
1 day ago

Zohran Mamdani is pushing New York towards fiscal disaster

New York City's finances are severely strained, with spending outpacing revenue growth, leading to potential credit downgrades.
New York City
fromwww.amny.com
4 days ago

Op-ed | A responsible path forward for New York City's budget | amNewYork

New York City's budget process is a complex negotiation that impacts community investment and addresses fiscal challenges.
US Elections
fromIndependent
2 days ago

Public braced for global recession within a year, new poll shows

82% of voters fear a recession within the next year, with 56% believing it could be as severe as the 2008 financial crash.
#social-security
Retirement
from24/7 Wall St.
1 week ago

Is Social Security Really Going to Cut Benefits? Here's the 1 Thing to Know

Social Security benefit cuts are not inevitable, as lawmakers have historically found solutions to maintain scheduled benefits.
Retirement
from24/7 Wall St.
2 weeks ago

What Is Really Destroying Social Security and What Congress Could Actually Do to Fix It

Social Security faces challenges from an aging population and limited revenue sources, not from mismanagement of the trust fund.
fromFortune
1 month ago
US politics

Social Security's trust fund is nearing insolvency, and the borrowing binge that may follow will rip through debt markets, economist warns | Fortune

Social Security's trust fund will be exhausted by FY2032, risking benefit cuts or debt-funded fixes that could prompt immediate market reactions and rising inflation.
Retirement
from24/7 Wall St.
2 days ago

Social Security Issues Major Warning to Retirees

Retirees must be vigilant against increasing government impostor scams targeting their Social Security information.
Retirement
from24/7 Wall St.
1 week ago

Is Social Security Really Going to Cut Benefits? Here's the 1 Thing to Know

Social Security benefit cuts are not inevitable, as lawmakers have historically found solutions to maintain scheduled benefits.
Retirement
from24/7 Wall St.
2 weeks ago

What Is Really Destroying Social Security and What Congress Could Actually Do to Fix It

Social Security faces challenges from an aging population and limited revenue sources, not from mismanagement of the trust fund.
fromFortune
1 month ago
US politics

Social Security's trust fund is nearing insolvency, and the borrowing binge that may follow will rip through debt markets, economist warns | Fortune

US news
fromwww.npr.org
3 days ago

Trump calls for a major increase in defense spending alongside cuts in domestic spending

Trump requests $1.5 trillion for defense spending, prioritizing military investments over domestic programs amid significant national debt concerns.
Law
from24/7 Wall St.
4 days ago

Dave Ramsey Tells Tutor With $24,000 IRS Debt to Pay the Government First in Her $94,000 Debt Snowball

Prioritize IRS debt over other debts due to its unique enforcement powers and penalties.
UK politics
fromwww.bbc.com
4 days ago

Reform UK pledges to cut welfare to keep pensions triple lock

Reform UK plans to maintain the triple lock on pensions while proposing significant cuts to the benefits bill to offset costs.
Boston
fromBoston.com
5 days ago

Boston faces budget deficit of nearly $50 million

Boston faces a $48.4 million budget deficit due to external cost pressures, prompting spending freezes and hiring delays.
fromHarvard Gazette
5 days ago

Powell issues a warning on U.S. debt - Harvard Gazette

Powell stated, 'I would call that a soft landing,' referring to the economic conditions where growth was at 2.5 percent and inflation just above 2 percent.
Left-wing politics
fromMission Local
6 days ago

S.F. on track to shrink deficit by $300M, city controller says

We are not out of the woods. If we don't act now, we will have to do twice as much in the coming years, with the choices becoming more difficult, more expensive, and more painful.
San Francisco
Washington DC
fromNextgov.com
3 days ago

Civilian agencies face 10% cuts in Trump's 2027 budget

President Trump proposed a $2.2 trillion fiscal 2027 budget with increased defense spending and cuts to non-defense agencies.
Right-wing politics
fromEsquire
6 days ago

Republicans Have Come up With the Worst Budgeting Idea Possibly Ever

Republicans are considering health spending cuts to fund a budget bill for the Iran war and immigration enforcement, risking political backlash.
fromTheregister
1 week ago

Wales used Copilot to justify axing publicly funded body

I was alarmed and made a point to the board that the review refers to Microsoft Copilot as being used to evaluate the returns. I don't think you can rely on artificial intelligence to do that. It's just wrong.
UK politics
New York City
fromwww.amny.com
1 week ago

NYC BUDGET: City Hall approves first round of savings after Mamdani told agencies to tighten belts | amNewYork

Mayor Zohran Mamdani's administration identified over $1.7 billion in savings to address NYC's budget gap through various efficiency measures.
US politics
fromFortune
2 weeks ago

The Treasury just declared the U.S. insolvent. The media missed it | Fortune

The U.S. government is insolvent, with liabilities far exceeding assets and significant unfunded obligations.
Business
fromFortune
3 weeks ago

A 'debt spiral,' before a fiscal crisis: interest on the national debt will be growing faster than GDP in just 5 years, think tank warns | Fortune

By 2031, U.S. federal debt interest rates will exceed economic growth rates, triggering a self-reinforcing debt spiral where deficits cause debt to grow indefinitely.
Europe politics
fromThe Local France
3 weeks ago

What you should know about the EU's plan to tap your savings

The EU revives its decade-old capital market integration plan, now called the Savings and Investments Union, to compete with the US and China while addressing market fragmentation and investment barriers.
Fundraising
fromwww.theguardian.com
3 weeks ago

High levels of debt on essential UK bills are the new normal', warn campaigners

Low-income households face rising arrears on essential bills including housing, utilities, and council tax, with rent and mortgage debt increasing significantly despite slower cost growth.
fromFortune
2 weeks ago

300 years of wars show they are 'always disaster times' for holders of government debt because of inflation and financial repression | Fortune

"The historical evidence reveals a striking pattern: government bonds have repeatedly generated substantial real losses during these extreme episodes. They have even underperformed equities and real estates which are traditionally regarded as risky assets."
World politics
US politics
fromAxios
2 weeks ago

Washington ignores America's fiscal cliff

Recent policy developments are worsening the U.S. fiscal situation, with projected deficits and soaring public debt over the next decade.
SF politics
fromLos Angeles Times
3 weeks ago

Eliminating a corporate tax break is pitched as a way to make up for federal healthcare cuts

California lawmakers propose repealing a tax break allowing multinational corporations to exclude foreign subsidiary income from state taxation, potentially generating billions in annual revenue.
UK politics
fromwww.theguardian.com
2 weeks ago

The Guardian view on aid cuts: Britain championed development funding its meanness is shortsighted | Editorial

Global child mortality decreased significantly due to overseas development aid, but cuts in aid budgets threaten to reverse this progress.
US politics
fromFortune
2 weeks ago

The Trump Administration's proposed capital gains tax cut could add nearly $1 trillion to the national debt within the decade, think tank warns | Fortune

The Trump Administration is considering capital gains tax indexation that could add $170-$950 billion to the national debt by 2035, raising concerns about deficit spending amid record debt levels.
#national-debt
fromFortune
2 weeks ago
US politics

$39 trillion national debt is 'an embarrassing milestone,' think tank says. 'Clearly headed in the wrong direction' | Fortune

fromFortune
3 weeks ago
US politics

The national debt isn't $39 trillion. One economist says it's actually $100 trillion | Fortune

US politics
fromFortune
2 weeks ago

$39 trillion national debt is 'an embarrassing milestone,' think tank says. 'Clearly headed in the wrong direction' | Fortune

U.S. gross national debt exceeded $39 trillion in less than six months after reaching $38 trillion, reflecting decades of fiscal irresponsibility from both political parties with no meaningful reform efforts underway.
fromFortune
3 weeks ago
US politics

The national debt isn't $39 trillion. One economist says it's actually $100 trillion | Fortune

fromFortune
3 weeks ago

Trump's economy was already exploding the national debt before his $1 billion-a-day war in Iran. Analysts warn about what's next | Fortune

Operation Epic Fury is racking up a staggering military bill. According to the Center for Strategic and International Studies, a DC think tank, the military campaign is costing approximately $891.4 million every single day. The first 100 hours of the conflict alone consumed $3.7 billion, CIS added in a report on the costs of the fighting, as reported by CNN.
World politics
Retirement
fromBusiness Insider
3 weeks ago

The rich are making and spending more money. Everyone else is cutting back.

The American economy is bifurcating into a K-shaped pattern where high earners maintain spending on luxury goods and experiences while lower- and middle-income earners cut back on discretionary purchases and face financial stress.
fromwww.aljazeera.com
1 month ago

When money is scarce, every choice counts: Bank, cash, or credit?

I have not touched a paper note for months. I don't even have money to pay for a taxi. Now we walk a lot, for long distances. Palestinians in Gaza use the Israeli currency, the shekel, in their daily transactions, and depend on Israel to supply banks with new banknotes and coins.
World news
Public health
fromFortune
1 month ago

Come 2030, the U.S. deficit will be worth 5.9% of GDP-more than the outlays for social security, and equal to spending on major health programs | Fortune

The U.S. faces escalating healthcare and social security costs driven by an aging population, with deficits projected to reach 6.9% of GDP by 2040, far exceeding sustainable levels.
SF politics
fromFortune
1 month ago

Nationwide voter revolt over property taxes collides with reality that every other revenue source has been slashed already | Fortune

Multiple states are pursuing property tax cuts during election years, facing resistance over impacts on local government and school funding, reminiscent of California's 1978 Proposition 13.
fromSan Jose Spotlight
1 month ago

East San Jose school district cuts dozens of jobs to plug deficit - San Jose Spotlight

The board has a really hard decision to make to help balance the budget. They're trying as best they can to limit the cuts so they don't affect the classroom. One of the ways to do that is cut at the district office and cut ancillary services. That's why we also saw a restructuring of staff at the district office level.
Education
UK politics
fromwww.independent.co.uk
1 month ago

Conservatives pledge to boost defence spending by bringing back two-child benefit cap

The Conservative Party plans to reinstate the two-child benefit cap and redirect the estimated £3.2 billion annually to defence spending and deficit reduction if elected.
#federal-deficit
fromFortune
3 weeks ago
US politics

The U.S. borrowed $50 billion a week for the past five months, finds the CBO: 'Our fiscal problems will not solve themselves' | Fortune

fromFortune
1 month ago
US politics

'The fiscal trajectory is not sustainable': CBO warns about the highest debt in U.S. history as Trump adds $1.4 trillion to 10-year deficit | Fortune

fromFortune
3 weeks ago
US politics

The U.S. borrowed $50 billion a week for the past five months, finds the CBO: 'Our fiscal problems will not solve themselves' | Fortune

fromFortune
1 month ago
US politics

'The fiscal trajectory is not sustainable': CBO warns about the highest debt in U.S. history as Trump adds $1.4 trillion to 10-year deficit | Fortune

UK politics
fromLondon Business News | Londonlovesbusiness.com
1 month ago

Fiscal drag caused by the freezing of personal allowances impacting people's finances - London Business News | Londonlovesbusiness.com

Chancellor Rachel Reeves' policies raise concerns about cost of living impacts despite claims of £1,000 annual improvement, with frozen tax thresholds until 2030 potentially offsetting gains.
fromFortune
4 weeks ago

America's never had such high national debt heading into an economic shock. We need a 'break glass' plan, think tank warns | Fortune

The country is almost certain to enter the next shock more indebted than we have ever been before, which may significantly hamper our ability to marshal an appropriate response. The U.S. has never experienced an economic shock as indebted as we are today. This situation leaves the U.S. immensely vulnerable.
US politics
from48 hills
1 month ago

The real story behind Muni's budget deficit - 48 hills

Despite some idealistic intentions, that framework is in fact what put Muni in the financial hole in the first place. Working from a scarcity mindset, namely trying to preserve an already pilfered service, is a losing battle. To guarantee the service that citizens and workers expect from a city like San Francisco requires a committed vision of the future, one that centers Muni as the public good that it is.
SF politics
fromwww.theguardian.com
1 month ago

Boring or bust: Reeves aims to project calm competence in spring budget

Like [Keir] Starmer, the chancellor is also fighting for her political life whether because the prime minister himself falls, or chooses to move his chancellor in a reset reshuffle. Against that backdrop, Reeves hopes to project calm and competence next week, after a tumultuous 18 months.
UK politics
#california-budget
UK news
fromLondon Business News | Londonlovesbusiness.com
1 month ago

Emergency government bailouts needed by third of councils over next three years - London Business News | Londonlovesbusiness.com

Over a third of councils and nearly half of social care councils are likely to need emergency government bailout agreements to set budgets within three years.
US politics
fromwww.independent.co.uk
1 month ago

IFS warns UK faces tax hikes or cuts to public services in bid to hit defence target

UK government must choose between tax increases or public service cuts to meet NATO's 3.5% defense spending target, requiring an additional £35 billion annually.
Major League Baseball
fromTalkNats.com
1 month ago

It's all about the money..... and the lack thereof! | TalkNats.com

MLB's revenue-sharing model and absence of a salary cap produce low profitability, encourage cost-minimizing ownership, and require CBA reforms for competitive balance.
Germany news
fromwww.dw.com
2 months ago

Germany: Local governments face financial collapse DW 01/07/2026

Germany's municipalities face severe budget shortfalls as automotive industry collapse slashes trade-tax revenues once underpinning wealthy towns like Weissach.
London politics
fromwww.standard.co.uk
1 month ago

Flagship London borough warns of looming financial crisis as it makes big council tax announcement

Westminster will keep almost all council tax frozen, add a small adult social care precept, but warns of severe budget shortfalls from government funding changes.
fromwww.thelocal.fr
2 months ago

OPINION: PM has steadied France, but sacrificed any hope of cutting the deficit

The Prime Minister, Sebastien Lecornu, was given little chance of survival, let alone finding a budget deal, when he was appointed for a second time in October. He deserves some credit for backing the heavy truck of the French political system out of a cul-de-sac (English for voie sans issue). Otherwise, what have we learned? That France still refuses to face up to a deficit crisis a half-century in the making;
France news
World news
fromenglish.elpais.com
1 month ago

Public debt: A ticking time bomb about to explode?

Global public debt is nearing $100 trillion and exceeds historical norms, becoming a structural economic burden while growth remains insufficient.
Education
fromBoston.com
2 months ago

BPS pauses new hiring amid deficit as district predicts hundreds of layoffs next year

Boston Public Schools enacted a partial hiring freeze to manage a $53 million deficit while closing three schools that may cost up to 400 jobs.
Germany news
fromThe Local Germany
2 months ago

German public spending rose slower than hoped in 2025

German public investment rose in 2025 but fell short of budgeted targets despite defence and infrastructure outlays, prompting vows to accelerate spending.
UK news
fromwww.bbc.com
2 months ago

Government to give cash payouts to people in financial crisis

Crisis and Resilience Fund provides £1bn yearly for three years to let councils deliver cash emergency support to low-income people.
Education
fromLondon Business News | Londonlovesbusiness.com
2 months ago

SEND crisis: Vast majority of councils warn of insolvency and call for reform amid huge deficits - London Business News | Londonlovesbusiness.com

Eight in ten councils expect insolvency by 2028/29 due to rising SEND high-needs deficits unless the Government writes off deficits and reforms the system.
US politics
fromFortune
1 month ago

Trump vows 'we will always protect Social Security, Medicare, Medicaid,' but his signature tax cut shortened their lifespans | Fortune

Tax policy changes have accelerated Medicare and Social Security insolvency by eliminating years of projected solvency, contradicting administration promises to protect these programs.
New York City
fromwww.amny.com
2 months ago

City faces multibillion-dollar budget gaps and not because of the economy, Comptroller says amNewYork

New York City faces a $2.2B shortfall this year and a projected $10.4B gap next year caused by prior underbudgeting and reliance on one-time fixes.
UK politics
fromTheregister
1 month ago

The UK government isn't spending much taxpayer cash on X

Most UK government departments ceased paid spending on X since July 2024, while the Department for Education spent £27,118.
UK politics
fromwww.theguardian.com
2 months ago

Scottish budget: SNP government cuts taxes for lowest earners

Scottish government raised income-tax thresholds modestly, cutting taxes mainly for low earners while using reserves, spending cuts, and borrowing to fund election pledges.
US politics
fromFortune
1 month ago

The 'alternative scenario' of an even bigger national debt disaster is in play after the Supreme Court ruled Trump's tariffs illegal | Fortune

Supreme Court invalidated major Trump tariffs, removing tariff revenues and potentially raising federal deficits and national debt toward 131% of GDP by 2036.
fromLondon Business News | Londonlovesbusiness.com
2 months ago

UK in danger of becoming a 'welfare state with a bankrupt country attached' - London Business News | Londonlovesbusiness.com

My reforms changed the welfare system to make work pay and brought workless households to an all-time low. But because of the post-Covid collapse in vetting and rise of health-related welfare claims, millions of workers could take home more from welfare than wages after tax. This is an outrageous state of affairs. The system must stop writing off thousands every day and incentives to work need to be restored to end this ruinous waste of human potential.
UK politics
fromwww.bbc.com
1 month ago

County council facing 'effective bankruptcy'

"If we don't get what we need [in terms of extra government help] then a Section 114 Notice will come in, which is effective bankruptcy. We'd then get administrators come in, in effect - they'd then make a plan for where the money gets spent in Worcestershire. It would be a catastrophe. We're going to have to halt projects that were put into the budget by the previous administration, things that maybe were 'nice to have', but we can't afford them."
UK politics
UK politics
fromwww.theguardian.com
2 months ago

The Guardian view on deepening poverty in the UK: a catastrophic Tory legacy has cut millions adrift | Editorial

Conservative policies from 2010–2024 left overall relative poverty unchanged, increased deep destitution, and forced millions into severe hardship despite many being in work.
US politics
fromPsychology Today
2 months ago

In the U.S., Who Deserves Financial Stability?

Cultural defaults like individualism and the American Dream shape attitudes toward social welfare and can help or hinder changemakers seeking equitable policy solutions.
US politics
fromFortune
2 months ago

Rethinking affordability: policy has to start with how households experience shocks | Fortune

Many households face persistent declines in economic well-being, so headline improvements often fail to restore household affordability.
US politics
fromNextgov.com
2 months ago

Partial shutdown appears imminent, if short lived, after failed Senate vote

Senate rejection of a spending package over DHS reform demands likely triggers a government shutdown this weekend unless negotiators reach a deal or pass a stopgap.
US politics
fromFortune
2 months ago

Deficits boost U.S. debt but also inflate corporate profits and stocks, so reducing red ink could trigger a financial crisis, analysts warn | Fortune

Budget deficits have become the primary driver of corporate profits and inflated stock valuations by channeling government spending into financial markets.
US politics
fromFlowingData
2 months ago

Job cuts for every federal agency

The federal workforce has shrunk by about 220,000 workers, while Immigration and Customs Enforcement grew roughly 30 percent amid expanded deportation efforts.
US politics
fromFortune
1 month ago

A U.S. 'debt spiral' could start in coming years when the interest rate on government borrowing exceeds economic growth, budget watchdog says | Fortune

Publicly held federal debt will rise from about 100% of GDP to over 106% by 2030 and 120% by 2036, driven by rising interest costs.
US politics
from24/7 Wall St.
2 months ago

Trump Administrations New Tax Rule Puts Social Security at Risk

A new $6,000 senior standard deduction boost in 2026 increases short-term senior tax savings but accelerates Social Security trust fund depletion by roughly six months.
US politics
fromFlowingData
2 months ago

Tariff revenue is nowhere close to enough

A unit-square visualization shows claimed tariff revenues cannot cover added governmental expenses as billion-dollar squares exceed available funds.
US politics
fromwww.aljazeera.com
1 month ago

CBO: US Federal deficits and debt to worsen over next decade

U.S. federal deficits and debt are projected to rise substantially over the next decade due to increased spending, higher debt service, tariffs, and immigration policies.
US politics
fromwww.mercurynews.com
1 month ago

Federal budget cuts lead this East Bay county to consider a new tax to fill the gaps

Contra Costa County may seek a 0.625% sales tax increase to raise ~$150 million annually to reduce budget shortfalls and preserve health services.
fromwww.aljazeera.com
2 months ago

Will eliminating fraud clear the US national deficit as Trump claims?

US president says massive' fraud has caused budget imbalance, but calculations do not support this. United States President Donald Trump has claimed that unearthing and ending fraud nationwide would eliminate the country's deficit. In particular, Trump has highlighted alleged public services fraud by Somalis in Minnesota and also said there is fraud in many other places. If we stop this fraud, this massive fraud, we're going to have a balanced budget, Trump said on Tuesday during a speech at the Detroit Economic Club.
US politics
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