Italian Government Divided Over Budget Cuts
Silvio Berlusconi’s coalition partners are opposed to the reforms other European leaders demand.
Fiscal Issues
Liam Fox Successor Faces Fiscal Challenges
The new defense minister may be the man to finally take control of the department’s finances.
The Folly of a Financial Transaction Tax
A bank levy will fail to raise revenue but not before urging companies to move their trades out of Europe.
Obama Calls for Tax Increases, Few Cuts
President Barack Obama’s latest plan for deficit reduction raises taxes by $3 for every dollar that is cut in spending.
Republicans Reject Tax Hike for Millionaires
Opposition lawmakers in the United States won’t consider tax increases. They argue that corporate taxes should actually be cut.
French Socialists Promise Growth, Fiscal Restraint
The left’s presidential candidates tried to convince voters that they will revive economic growth and reduce public expenditures.
Obama Proposes $447 Billion in New Deficit Spending
Money would go to infrastructure, tax cuts, schools and unemployment benefits.
French Government Reluctant to Cut Spending
Austerity in France means raising taxes.
Transatlantic Effort to Impose Fiscal Restraint
American and European conservatives push for balanced budget amendments, hoping to force their governments to cut spending.
Social Security Has to Be Changed
America’s public pension system has to be reformed if it is to remain solvent but Democrats are opposed to changes.
Higher Tax Rates Won’t Boost Revenue
Income tax receipts in the United States have remained exceptionally constant in recent decades, whatever the top rates.
Downgrade of American Debt Almost Inevitable
Despite a deal to cut government spending, the United States could lose their top credit rating.
World Anxious for Last-Minute Debt Deal
Investors are counting on American lawmakers to reach an agreement that would stave off default.
Debt Ceiling Talks Reach Impasse Over Taxes
Republicans won’t consider tax hikes. Democrats refuse to reform entitlements.
US Lawmakers Negotiating Budget Deal
Democrats and Republicans have identified $2 trillion in spending cuts over the next ten years.