Explainer: Shutdown? Default? Washington’s risky new debt ceiling standoff
WASHINGTON, Jan 24 (Reuters) – Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.WHAT IS A GOVERNMENT SHUTDOWN?Congress is supposed to pass detailed spending legislation for each […]
Japan higher rates expand debt pile, balanced budget seen delayed again
Japan fiscal estimates assume higher interest rates than beforeBOJ’s move to widen 10-yr target band heaps pressure on ratesJapan seen to lag FY2025 budget balancing target by one yearTOKYO, Jan 24 (Reuters) – Japan raised its estimates for long-term interest rates over the coming few years in government’s twice-yearly fiscal projections issued on Tuesday, following […]
Japan warns of dire finances as BOJ struggles to contain yields
Japan’s finances intensified severity to unprecedented pointRounds of extra budget, stimulus measures aggravate financesPublic finance is the cornerstone of a country’s trust – finminEconomic revival comes first before fiscal reform in long runParliament debate begins, all eyes on new BOJ governor nomineeTOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi […]
U.S. December deficit quadruples as outlays grow, debt ceiling nears
WASHINGTON, Jan 12 (Reuters) – The U.S. government’s December budget deficit quadrupled from a year earlier to $85 billion as receipts shrank slightly and outlays grew to a new December record, the Treasury Department said on Thursday as it neared the $31.4 trillion federal debt limit.The results confirmed forecasts that revenues would start to ease […]