France’s Bleak Budget: Job Cuts, Tax Hikes, and a Growing Debt Crisis
Michel Barnier’s plan to cut public spending by over €40 billion sparks backlash from both the Left and the Right.
Michel Barnier’s plan to cut public spending by over €40 billion sparks backlash from both the Left and the Right.
Getting the numbers right is the first step toward closing the budget gap. Here is the first step; when will we see the next?
The U.S. government has faced a sharp rise in debt costs in the past year—but that was only the beginning. The numbers presented here should scare Congress into debt panic.
Inflation has given tax revenue an artificial boost over the past couple of years. Price stability is back now, yet government spending keeps growing at unsustainable rates.
At the start of 2024, there was a trend break on the market for sovereign debt that suggests investors may be asking a risk premium to buy U.S. government debt.
If this odd change in the yield curve continues, it will turn into an open vote of no confidence in U.S. government debt.
Buried in a pile of technical data are pieces of information that suggest investors are getting seriously worried about the growing pile of U.S. debt.
The U.S. economy is doing well, but the slowly growing uneasiness on the market for federal government debt could easily grow into a problem big enough to derail it.
There is only one way that Congress can permanently end its budget deficits. Here is how to get the job done.
In 2023, the federal government borrowed $2.5 trillion. So far this year, things are only getting worse.
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