deficit
Coverage of deficit in the Nexus archive.
- Why a Costly US Bond Sale Is a Warning to Bessent
The US government sold 30-year bonds at the highest interest rate in a quarter century, which reflects investors' demand for greater compensation to fund the nation’s growing deficit. Standard Chartered CIO for North Asia, Raymond Cheng, provided commentary on the long-term sustainability of such yields.
- France faces budget showdown as presidential election looms
France is facing a budget showdown as the presidential election approaches. Minister David Amiel addressed this issue by urging the opposition to help cut the deficit and warned them against leaving difficulties for the next leader.
- RTD will not increase fares to close more than $200M deficit, but will move forward with service reductions
RTD will avoid fare increases to address a $200 million deficit but will implement 10% service reductions to save $20 million. The board approved a 9-6 vote to prioritize cost-saving measures, including service adjustments based on ridership needs and efficiency standards, with changes effective by May or June 2024. A High-Volume Event Service pilot with the Broncos was also approved.
- France’s Lescure Wants 2027 Budget That Brings Deficit Below 5%
France’s Lescure proposes a 2027 budget aimed at reducing the deficit below 5%. The plan targets achieving a deficit under 5% by that year.
- Jersey City punts on 15% tax increase, but the big bills are still coming
Jersey City has postponed a 15% tax increase, but officials acknowledge the city's significant deficit remains unavoidable despite a state government bailout.
- UK borrowed more than expected in May
The UK borrowed more than expected in May, resulting in a £23.3bn deficit. This highlights the financial challenges Andy Burnham may face if he becomes prime minister.
- Mayor Lurie’s budget closes $642M deficit: Few layoffs, but hundreds of City Hall jobs go unfilled
Mayor Lurie's budget addresses a $642M deficit by eliminating over 400 vacant City Hall positions instead of implementing widespread layoffs, which had occurred earlier in the year with 127 job cuts. The strategy aims to save money through reduced turnover and slower hiring.
- Lurie’s budget spares city jobs for now — but axe may still fall next year
Lurie’s budget avoided layoffs for city jobs in the current year due to a surprise surplus and hiring freeze, but a projected $1B deficit by 2029 could lead to future job cuts.
- France Sticks to Plans to Narrow Deficit as Iran War Weighs
France remains committed to its fiscal plan to reduce the deficit despite ongoing tensions related to the Iran war. The article mentions Roland Lescure, though no further details about his role are provided.