The United States government has posted a budget surplus for January 2022, the first time in over two years, displaying a considerable change over the deficit registered during the same month last year as government revenue collection improved post-pandemic. For January 2022, the United States posted a $118.70 billion surplus, up from a deficit of…

Commentary The federal budget has degenerated into a farcical charade. Today, the federal government’s explicit debt is careening toward the unfathomable sum of $29 trillion. (Let’s set aside for now the much larger number that comprises Uncle Sam’s unfunded liabilities). The sums involved are mind-boggling. I wrote a few months ago about the trivialization of…

The Congressional Budget Office (CBO) has released a report showing how the Pentagon can cut $1 trillion in spending by tweaking its national defense strategy. The CBO’s Oct. 7 report comes as lawmakers look to boost the Department of Defense (DOD) budget by 5 percent, with supporters arguing that doing so is necessary to continue…

Canadian workers may be heading toward a slower rise in income and living standards unless public policy steps in to help, as an analysis of Canada’s business investment per worker since the 1990s shows signs of a “troubling outlook,” suggests a report by the C.D. Howe Institute. “Declining Vital Signs: Canada’s Investment Crisis” examines recent…

Senate Democrats pass a $3.5 trillion budget blueprint, what’s next for New York Governor Andrew Cuomo after his resignation, and President Biden says he has no regrets about pulling out of Afghanistan.

Senate Democrats pass a $3.5 trillion budget blueprint, what’s next for New York Governor Andrew Cuomo after his resignation, and President Joe Biden says he has no regrets about pulling out of Afghanistan.

Commentary The first thing any economist should do when reading a budget proposal is to analyze the basic macro assumptions and the results presented by the administration. When both are poor, the budget should be criticized. This is the case for the Biden budget plan. Same growth; a lot more debt and less employment. According…

Many in the Australian higher education sector feel left behind in the 2021-22 Budget after a difficult financial year with reduced international student revenue. Treasurer Josh Frydenberg announced $19 billion (US$14.8 billion) in funding for universities in his budget speech in Parliament on Tuesday evening. The measures include creating new employment pathways for students, funding…

The Australian housing and mortgage sectors are commending the federal governments new and expanded measures announced in the Federal Budget on Tuesday to help more Australians become homeowners and, in turn, drive economic recovery. Property Council of Australia (PCA) chief executive Ken Morrison said in a statement that the PCA commended the federal government for the…

OTTAWA—Parliament’s spending watchdog says the federal Liberals’ budget overestimates how much of an impact its stimulus measures will have on Canada’s economy. The budget last month outlined what the government said was $101.4 billion in new spending over three years aimed at helping the country climb out of the economic hole caused by the COVID-19…