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The Washington Post reports some surprising news on the state of the federal budget; higher than expected tax revenues combined with lower than expected spending on financial rescues to produce a first half fiscal performance than originally forecast.
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His goal is to cut the deficit in half this fiscal year, which ends Aug. 31.
According to my rough calculations, keeping the child credits and the cutout while rolling back the rest would close only about half the fiscal gap.
One reason is that they require more from the 35 state governments, which account for half the fiscal burden and many of the problems in electricity, education and agriculture, to name a few.
We've also seen that almost half that fiscal black hole is directly due to Brexit, with the OBR saying leaving the EU will cost £58.7bn over the next five years.
Can Dish Network Keep Beating Estimates In The Second Half Of Fiscal 2018?
Nintendo today reported [PDF] it swung to a net loss of 2.01 billion Yen ($24.5 million) in the first half of fiscal 2010 after recording a handsome 69.49 billion ($850 million) profit in the same time frame last year.
Marketing and advertising expenses also decreased during the quarter and the first half of fiscal 2010 for Campbell Soup, thanks to lower media rates and transfering marketing spending to trade promotions.
America had a half-hearted fiscal stimulus, largely offset by state and local cutbacks.
The Washington-based IMF used its influential half-yearly fiscal monitor to demolish the argument that economic growth would suffer if governments in advanced Western countries forced the top 1% of earners to pay more tax.
The Washington-based institution used its half-yearly fiscal monitor to single out the US for particular criticism, saying that Donald Trump's fiscal stimulus – a package of tax cuts and spending increases – was leading to a bigger budget deficit at a time when it should be on the way down.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com