News
Source | France Prepares to Unveil Broad Spending Cuts
The government is considering additional budget savings of as much as €4 billion ($5.8 billion) for this year and €10 billion for 2012 in order to stick to its deficit targets and make up for softer-than-expected economic growth, said several trade unionists who spoke to French Prime Minister Francois Fillon on the phone.
National Journal | Congressional Budget Office Predicts $1.3T Deficit in 2011, Third Largest in 65 Years
The gross domestic product is expected to increase by 2.3 percent this year and 2.7 percent for 2012. The national unemployment rate, according to CBO data, should remain above 8 percent until 2014.
Econ Comments
RCM | The Soprano State Gets Downgraded
It's merely a description of the financial gimmicks used by politicians in New Jersey over the last decade, the only state ever cited for fraud in its financial disclosure statements by the Securities and Exchange Commission.
Reports
CBO | Budget and Economic Outlook: An Update
The United States is facing profound budgetary and economic challenges. At 8.5 percent of gross domestic product (GDP), the $1.3 trillion budget deficit that the Congressional Budget Office (CBO) projects for 2011 will be the third-largest shortfall in the past 65 years (exceeded only by the deficits of the preceding two years).
