The Canadian province of Quebec says it will trim its budget deficit in the years ahead as it brings in more tax revenue and restrains new spending, despite trade tensions with the US https://t.co/Xg6po07YfZ ...

Indonesia is facing an uphill battle to maintain the budget deficit legal limit of 3% of gross domestic product as Middle East tensions drive oil prices well beyond initial forecasts https://t.co/qjyRvnnd8D ...

Russia plans to scale back this year’s budget spending to rein in a widening deficit https://t.co/rSSNlSzqcw ...

Federal Budget Deficit - The federal budget deficit exceeded $1 trillion in the first five months of fiscal year 2026, although it decreased by $142 billion or 14% compared to the same period in fiscal year 2025 [1] Federal Spending and Revenue - Federal spending reached just over $3.1 trillion, an increase of $64 billion or 2% from the previous year [2] - Federal tax revenue rose by $206 billion or 11%, totaling nearly $2.1 trillion [2] Tax Revenue Sources - The increase in federal tax receipts was primarily due to higher collections from individual income taxes and payroll taxes, which accounted for about two-thirds of the increase [3] - Individual income tax collections increased by $99 billion or 10%, while payroll tax collections rose by $34 billion or 5% [6] Tariff Collections - Customs duties, including tariffs, totaled $144 billion, up $109 billion or 308% from the previous year [6] - Some tariff collections may be refunded due to a Supreme Court ruling on the constitutionality of certain tariffs, which could impact future revenue [7] Corporate Tax Revenue - Corporate income tax collections decreased by $33 billion or 23% due to increased tax deductions from the 2025 reconciliation bill [8] Mandatory Spending Programs - Spending on Social Security increased by $48 billion or 8% to $676 billion, driven by cost-of-living adjustments and expanded eligibility [9] - Medicare spending rose by $34 billion or 9% to $475 billion, attributed to higher enrollment and increased payment rates [10] - Medicaid spending also increased by $22 billion or 8% to $285 billion [11] Interest Expenses - Net interest costs on the national debt totaled $433 billion, an increase of $31 billion or 8% from the previous year, due to a larger national debt and higher interest rates [12] Departmental Spending Changes - Spending on the Department of War rose by $14 billion or 4%, and the Department of Veterans Affairs increased by $11 billion or 7% [13] - The Environmental Protection Agency (EPA) saw a significant decrease in spending by $20 billion or 74% due to a lack of comparable outlays from the previous year [13] - The Department of Homeland Security experienced a spending decline of $12 billion or 23% due to reduced disaster spending [14]

China sets the most modest growth target in more than three decades. Not since 1991 when we saw big disinvestment in heavy industry in places like northeastern China have we seen a growth target for a full year this low. And also they're setting a range not like last year where it was around 5% which the Chinese economy did hit that.This time it's going to be a range between 4 and a.5% to 5%. That gives more wiggle room, more flexibility. If the stresses facing the economy externally and internally as they ...

Tax the Rich. Why That Chant Is Louder Than Ever. - Barron'sSkip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.# Tax the Rich. Why That Chant Is Louder Than Ever.By [Abby Schultz]ShareResize---ReprintsA proposal called the Billionaires Income Tax was revi ...

showing the trade deficit surging in December. This is important too. 70 billion up 33% from November.Let's discuss it all with David Zervos. He's the chief market strategist at Jeffre. David, it's great to see you.I mean, is it bad. I kind of want to talk trade deficit a little bit. Like it's was that just a one-mon aberration.What's going on here. >> I think look, I've never gotten very excited about one month or even three months of data. I think you need to see the trend and the trend has been that uh t ...

France’s strategy to reduce its budget deficit this year remains "very uncertain," the country's audit court says https://t.co/xEEhPvlzaZ ...

Economic Indicators - The dollar index (DXY00) is down -0.04%, influenced by a smaller-than-expected decline in US jobless claims and a larger-than-expected drop in January existing home sales [1] - US weekly initial unemployment claims decreased by -5,000 to 227,000, indicating a slightly weaker labor market than the expected 223,000 [2] - January existing home sales fell -8.4% month-over-month to a 16-month low of 3.91 million, below expectations of 4.5 million [3] Currency Movements - The Chinese yuan has strengthened, reaching a new 2.5-year high, which is putting additional pressure on the dollar [1] - The euro (EUR/USD) is up by +0.09% amid mild dollar weakness, although gains are limited by a decline in German bund yields [5] - The yen (USD/JPY) is down by -0.24%, with the yen reaching a 2-week high against the dollar, supported by lower T-note yields [6] Interest Rate Expectations - Swaps markets are pricing in a 6% chance of a -25 basis point rate cut at the next Federal Open Market Committee (FOMC) meeting on March 17-18 [4] - The FOMC is expected to cut interest rates by approximately -50 basis points in 2026, while the Bank of Japan (BOJ) is anticipated to raise rates by +25 basis points in the same year [4] - There is a 3% chance of a -25 basis point rate cut by the European Central Bank (ECB) at its next policy meeting on March 19 [5]

Tariff revenue helped shrink the US budget deficit by 17% in the first four months of the fiscal year, showcasing one of the stakes as the Supreme Court weighs whether President Trump had the authority to impose most of his duties https://t.co/BnYRr2rcKI ...