deficit

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Stimulus Widens Unemployment Coverage

Part-timers would be eligible; plan expands health-care options

(Newser) - The Obama stimulus plan will include a $7 billion provision intended to force states to extend unemployment insurance to part-time workers, reports the Wall Street Journal. A separate plan subsidizes COBRA payments and allows uninsured workers who get laid off to buy into Medicaid, and all three measures are riling...

Obama: Expect Trillion-Dollar Deficits

(Newser) - Barack Obama delivered yet another dose of sobering economic news today—the nation should expect to run trillion-dollar deficits for multiple years, the Washington Post reports. The once unthinkable sum—we're already well on our way toward it in fiscal 2009—is more than double the previous high. Obama acknowledged...

Forget the Deficit: Spend, Spend, Spend!

We need massive fiscal expansion, not budget restraint: Krugman

(Newser) - As the incoming administration prepares a massive fiscal stimulus to jolt America's floundering economy back to life, some are worrying about what billions in spending will do to the budget deficit. On the contrary, writes Paul Krugman in the New York Times: Deficit spending now will help, not harm, the...

Bush Unveils Record-Busting $3T Budget

Critics on both sides immediately pounce on 'irresponsible' plan

(Newser) - As expected, President Bush unveiled a record-busting $3.1 trillion federal budget plan today. It met fierce opposition from congressional Democrats—as well as some Republicans, reports the New York Times. Harry Reid called the budget “fiscally irresponsible and highly deceptive, hiding the costs of the war in Iraq...

Canadians Invade US as Loonie Climbs
Canadians Invade US as Loonie Climbs
Oct 29, 2007 11:47 AM CDT

Canadians Invade US as Loonie Climbs

Exchange rate nears all-time high, sparking spending—and gloating

(Newser) - The commodity-heavy Canadian loonie rose above US$1.04 this morning—just short of its 1957 all-time high of $1.06—on news that Mexico would cut oil production 20%, reports the National Post. Now that the currency tables have turned, Canadian shoppers and vacationers couldn't be happier, the Guardian reports....

Inflation Eases, Trade Deficit Narrows

New data is mostly positive, and unlikely to influence interest rates

(Newser) - With the exception of energy and food, inflation at the wholesale level rose less than expected last month, while the US trade deficit got slimmer, thanks to an increase in exports. Still, a rise in energy costs in July led to an unexpected .06% uptick in the producer price index...

Improved Deficit Can't Last
Improved Deficit Can't Last
Jul 13, 2007 5:24 AM CDT

Improved Deficit Can't Last

US faces huge future budget crunch

(Newser) - The federal deficit is falling: The OMB yesterday predicted a $205 billion deficit for 2007, down from last year and half of what it was at the peak in 2004. But the fiscal good news is not likely to last, the Christian Science Monitor reports. The OMB also predicts the...

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