Readers Question: What is Canada’s National debt? It is a little hard to decipher as there seem to be two different measures. Net Federal Debt – NetDebt owned by federal government Gross General Government Debt The second statistic – Gross General Government debt includes debt by local and state governments and so gives a higher …
In one sense the US is facing a debt crisis. The level of government borrowing has risen sharply as a % of GDP, and given current spending commitments, the forecast for borrowing is to continue to grow. Nevertheless, despite disputes over raising debt ceiling, the US doesn’t currently face a crisis like Greece or other …
Hello. You mention national debt and public sector debt. Are they the same? Yes, the official measures is the public sector net debt. Often people refer to this as the national debt. (there once was an official statistics called national debt, but this was discontinued quite a while back). However, when people talk of national …
Is US Economy Heading to Recession For 2024 Election – Six Warning SignsWatch this video on YouTube The US economy is currently booming with economic growth of over 3%, record employment figures and core inflation falling to 2%. It has been labelled the Goldilocks economy – everything is appearing to go well, but last year, …
The economist recently warned that governments are living in a fiscal fantasyland, failing to confront dire and growing levels of debt. High inflation and rising interest rates have caused a surge in debt interest payments. By next year, the UK’s debt service payments will be similar to the entire education budget. It is a similar …
The current US administration is proposing tax cuts which ‘The Committee for a Responsible Federal Budget’, estimates it will include $5.8 trillion of total tax cuts over the decade and a net cost of $2.2 trillion through 2027. The problem with these tax cuts It is unclear how these tax cuts will be financed. An …
The first admission about writing on the economic policies of Donald Trump is that nobody can be entirely sure what it will be – perhaps even Donald Trump himself. Campaign promises are one thing, but the reality of a Republican controlled Congress, may be something else. I don’t think it unreasonable to think that the …
In 2009, US and EU unemployment rates both stood at 10% – but since then EU unemployment has increased to 12% and US unemployment fallen to 7.9%. (see: US v EU unemployment) These contrasting fortunes in unemployment are a reflection of diverging rates of economic growth. Whilst, Europe has entered a double dip recession, the …