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Deficit

All articles tagged with #deficit

Social Security Trust Fund Nears Insolvency, Urgent Reform Urged
business28 days ago

Social Security Trust Fund Nears Insolvency, Urgent Reform Urged

Seeking Alpha warns the Old Age and Survivors Insurance Trust Fund could be depleted by fiscal year 2031, with the annual deficit widening due to demographics, high cost‑of‑living adjustments, and revenue‑reducing policy changes. If no action is taken, benefits could be cut by about 24% across the board, impacting roughly 70 million retirees and risking broad economic strain, prompting calls for bipartisan reform similar to the 1983 Social Security Act overhaul.

via Seeking Alpha|
#business#deficit#insolvency
Tariff-driven gains help keep deficit under last year's pace through February
economy1 month ago

Tariff-driven gains help keep deficit under last year's pace through February

The U.S. deficit totaled $1.004 trillion through February, about 12% below the year-ago pace as faster revenues narrowed the gap; February alone posted a $308 billion shortfall. Customs duties rose to $151 billion in the first five months (up 294% year over year), helping offset a 17% drop in corporate tax receipts. Net interest payments on the roughly $39 trillion debt were $79 billion in February. The data may reflect timing on tariffs and possible refunds, with higher rates continuing to weigh on the fiscal outlook as the debt nears $39 trillion.

via CNBC|
#debt#deficit#economy
Democrats Criticize Trump’s New Legislation Amidst Voter Campaigns
politics9 months ago

Democrats Criticize Trump’s New Legislation Amidst Voter Campaigns

The House passed Trump's tax and spending bill, sparking outrage among Democrats due to its implications for increased immigration enforcement, cuts to social security, and a significant rise in the deficit, with critics calling it a 'corrupt kleptocracy.' The bill also intensifies deportation efforts and cuts social welfare programs, while adding $3.3 trillion to the national debt.

via The Guardian|
#deficit#democrats#immigration
Debate Rages Over Trump’s Tax and Spending Policies' Impact on Economy and Deficit
economy9 months ago

Debate Rages Over Trump’s Tax and Spending Policies' Impact on Economy and Deficit

Senate Republicans are close to passing a large tax and spending bill that extends many of Trump's previous tax cuts and increases spending in certain areas. However, experts like Citi's Nathan Sheets believe the bill will have minimal impact on the already large US deficit and won't significantly boost economic growth, which is more likely to be influenced by deregulation and trade policies. The bill's effect on the deficit is expected to be negligible, with the overall fiscal picture remaining large regardless.

via Barron's|
#deficit#economic-growth#economy