Tag Archive
US budget deficit seen at record $1.845tn
However unexpected it might be it is also as inevitable. According to the Congress forecast, the US budget deficit is now expected to reach a staggering figure of record 1.845 trillion dollars in financial year ending this September. This amount is equivalent to 13.1 per cent of the country’s total output. The deficit for the... »
Senate OKs break for home buyers
The Senate on Wednesday night has voted collectively to give a USD 15,000 tax break to the home buyers by the end of this year. The proposal, forwarded by Georgia Republican Sen. Johnny Isakson, is aspired to rejuvinate the dipping housing industry. This adds another part to the President Barack Obama’s mammoth economic-stimulus bill.... »
Geithner, Bernanke work on $700bn bailout overhaul
US Treasury Secretary Timothy Geithner Federal Reserve Chairman Ben Bernanke and other top banking officials met on Friday to develop the administration’s plan for refurbish the $700 billion bailout program and improve regulation of the monetary system. Speaking to the Associated Press on the condition of anonymity, a senior administration official has revealed that the... »
