Canadian federal government budget deficit shrinks dramatically
The Canadian government is out with its latest budget numbers and they’re stark, thanks to much lower spending and a boost from resource revenues. The April-November budget deficit is C$3.55 billion compared to C$73.7 billion a year ago. To be clear, a decade ago a year-long deficit of $10 billion was seen as a large […]
BoA say US federal government will forced to default on a portion of its daily obligations
Bloomberg (gated) have the report of comments from BoA concerning US politics. Specifically the potential for a Reepublican controlled House of Representatives to refuse funding on debt ceiling negotiations “We think it is likely that by late summer or early fall, the federal government will temporarily be forced to default on a portion of its […]