Currently browsing tag

Fiscal policy

No chicken, no cafes: Egyptians scrimp as prices leap

CAIRO (AP) — Money had already been tight as food and electricity bills climbed for weeks. So Ashraf Mahrous, a 45-year-old civil servant, warned his wife, “Black days are ahead,” when Egypt floated its pound and hiked fuel prices this month. Mahrous is now looking for a side job. Rising …

Fiscal Foolishness

Over all, Chris Wallace was better than I expected. But he was pretty bad on fiscal issues. First of all, still obsessing over the debt? Still taking leads from the Committee for a Responsible Federal Budget? Federal debt simply isn’t a pressing issue; there is no possible reason to make …

Renzi’s referendum gamble could be double or pits

Defeat in Italy’s upcoming constitutional referendum could cost PM Matteo Renzi his job, and leave important reforms unfinished. A victory too could end badly. It could leave a strong Renzi government, but also pave the way for one led by the radical 5-Star party. Italy’s constitutional referendum could cost Prime …

Is Portugal about to go down the same road as Greece?

LISBON, Portugal (AP) — An anti-austerity alliance including radical leftist parties takes power. A shaky economy and huge debts menace the national economy. The rest of Europe watches with a wary eye. Sound familiar? It’s not Greece, but another eurozone country: Portugal. A nation that just months ago was hailed …

Indonesian president reshuffles Cabinet to boost economy

JAKARTA, Indonesia (AP) — Indonesia’s president announced a Cabinet reshuffle Wednesday, replacing key economic ministers with the aim of speeding up infrastructure spending to revive sputtering growth and stabilize the sliding rupiah. The Cabinet shake-up comes amid increasing public dissatisfaction with the lagging performance of Indonesia’s economy since Jokowi took …

Report: Social Security disability fund to run dry next year

WASHINGTON (AP) — The 11 million Americans who receive Social Security disability face steep benefit cuts next year, the government said Wednesday, handing lawmakers a fiscal and political crisis in the middle of a presidential campaign. The trustees who oversee Social Security and Medicare said the disability trust fund will …

London ‘draining life’ from rest of UK economy

LONDON (AP) — There’s London. And then there’s the rest of the country. A tale of two Britains has increasingly emerged since the Great Recession. While the government trumpets the country’s recovery from the financial crisis and its status as the world’s fastest-growing developed economy, the rhetoric hides an increasing …

Brazil’s WCup: Anger over waste, poor planning

CUIABA, Brazil (AP) — Pedestrians tiptoe across a road scarred with deep puddles, piles of gravel and a detour sign. Black oily slush leaves no room for missteps or steering mistakes. The debris in this small city in western Brazil is part of the grand-scale mess of unfulfilled promises. Unfinished …