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Donald Trump aims to balance budget in decade targets 3% growth

Donald Trump aims to balance budget in decade targets 3% growth

US President Donald Trump is aiming to balance the federal budget in a decade with substantial cuts to safety-net programmes, combined with a tax overhaul to speed up the economy and achieve an ambitious growth rate of three per cent, the White House has said.

US budget deficit totals $107.1 billion in August

US budget deficit totals $107.1 billion in August

The federal government recorded a deficit of USD 107.1 billion in August, slightly lower than the July deficit.

Significant drop in US budget deficit

The federal government uses a fiscal year that begins in October; on that basis, the 2014 fiscal year ended in September saw a deficit of USD 483 billion, the lowest of Barack Obama's presidency, it said.

US budget deficit to drop to 583 billion this year

The US government budget deficit in 2014 will come down to USD 583 billion, a drop of USD 100 billion over the previous year.

Fitch affirms US ratings, removes downgrade danger

Fitch Ratings on Friday affirmed the United States` credit ratings at "AAA" with a stable outlook, removing the distant danger that it might downgrade the world`s largest economy.

US 2013 deficit falls to $680 bn, half of 2009 peak

The US budget deficit plunged 37.5 percent in fiscal 2013 to less than half its level four years ago on sharp spending cuts and surging revenues, the Treasury said Wednesday.

US posts $98 billion budget deficit in July

The United States ran a budget deficit in July, although government revenues increased from a year earlier due to tax hikes and a strengthening economy, a report from the Treasury showed on Monday.

Obama presents $3.77 trn budget; vows to make US magnet for jobs

US President Barack Obama on Wednesday presented USD 3.77 trillion annual budget which he said will not only reduce the budget deficit but will also make America "a magnet for good jobs" and put the country on the path of economic prosperity.

US budget targets deficit reduction by another $1.8 trillion

In all, the Budget proposes 215 cuts, consolidations, and savings proposals, which are projected to save more than USD 25 billion in 2014.

US economy shrinks 0.1% in Dec qtr; first time in over 3 years

The unexpected contraction adds to the concerns about the struggling global economy which is already battling the European debt turmoil and slowing growth in many developing countries including India.

America's deficit problem is more than fiscal: US economist

The US needs to address its budget deficit, but measures to be taken should not bring counterproductive effects as the nation also face jobs and growth "deficits", said Lawrence Summer, a US economist and President Barack Obama's former economic adviser.

US budget deficit crosses $1 trillion-mark for 4th straight year

The US budget deficit has crossed USD 1 trillion-mark for the fourth year in a row but a modest improvement in economic growth helped narrow the gap by USD 207 billion compared with last year.

US budget deficit hits $198 bn in March

The US federal government has registered a budget deficit of about USD 198 billion in March, the second largest monthly budget gap in the current fiscal year, the Treasury Department said Wednesday.

US reports $232 billion budget deficit

The US Treasury Department announced Monday that the federal government registered a USD 231.7-billion budget deficit in February.