• Tue, December 17, 2024

by: The Australian Financial Review

A decade of deficits and a modest $5.5b election war chest

The budget is not estimated to return to surplus for at least a decade, and cumulative deficits over the next four years will be almost $22 billion larger than forecast in May.

by: CNN

Trump formally clinches Electoral College victory

Over 530 presidential electors will meet in all 50 states and DC to cast their votes for president and vice president. After the meetings, the official votes will be sent to Congress to count on January 6,

by: USA Today

Elon Musk and SpaceX face federal reviews over security, NYT reports

The New York Times reported that Musk and SpaceX had violated federal reporting protocols by not fully reporting his contacts with foreign leaders.

by: National Post

Freeland defended by Liberal MPs, as Trudeau's feminist reputation is questioned

Trudeau has been largely out of public view grappling with the fallout from Freeland's bombshell decision to resign from his cabinet the same day she was set to present the Liberals' fall fiscal update on Monday, saying she was doing so after the prime minister told her last Friday that he no longer wanted her in the role.

by: MSNBC

Indiana congresswoman says she will spurn GOP caucus to help Elon Musk's DOGE group

I do not need to be involved in circuses," Rep. Victoria Spartz wrote on social media, suggesting she'll be prioritizing the so-called Department of Government Efficiency.

by: Australian Broadcasting Corporation

Federal politics live: Treasurer Jim Chalmers unveils mid-year budget update, deficits $21.8bn billion deeper than expected

Treasurer Jim Chalmers will unveil the mid-year budget update today, which is expected to confirm the budget is headed back into years of deficits after two consecutive surpluses. Follow all the updates in our live blog.

by: Irish Examiner

Murphy endorsement meets criticism as FF and FG accused of using Ceann Comhairle role as a 'bargaining chip'

At their respective parliamentary party meetings, Micheál Martin and Simon Harris proposed members support Ms Murphy's candidacy

by: Sky News Australia

Victorian government to implement recommendations for construction crackdown after damning reports of CFMEU corruption

Contractors will be required to report criminal activity on Victorian government worksites in a new crackdown on construction industry corruption after damning reports arose about the Construction, Forestry,

by: Politico Europe

Britain's Winston Churchill shortage

LONDON — In 1974, the Tory MP and noted diarist Alan Clark declared himself "sick of Plymouth" — the town on England's south coast he represented for 18 years — and its "introspective, minuscule horizons."

by: MSN

Robert F. Kennedy, Jr. and the Disruptors take over DC! PLUS, Vets defend Hegseth on the Hill | Will Cain Show

Senator Tommy Tuberville joins Will Cain to give an update on President-elect Donald Trump's cabinet nominees as he sets to meet with Robert F. Kennedy, Jr. Plus, Lt. Col. Stuart Scheller discusses his push for Pete Hegseth on Capitol Hill.

by: MSN

Ankeny City Council appoints a new mayor to fill Mark Holm's vacancy

Bobbi Bentz will serve the remainder of former mayor Mark Holm's term and is the first woman to serve in the role.

by: MSN

The days of secrecy and dishonesty are over, says Sean Hannity

Fox News host Sean Hannity gives his take on the final weeks of President Biden's term on 'Hannity.' "Gold Shaw Farm is a dream in the making, nestled in Peacham, VT. Founded in 2016 by Morgan and Allison Gold, this 158-acre farm-in-progress is on a mission to become a thriving, regenerative homestead. Follow their journey on Wild Encounters!"

by: MSN

'Ridiculous lacking response' of government is reason for concerns over drones

State officials are asking for federal assistance in the investigation into mysterious drone sightings around New Jersey and New York. Rockland County executive Ed Day joins Katy Tur on residents' concerns and how he believes the government should be responding.

by: MSN

Donalds-Endorsed Disaster Tax Relief Bill Signed Into Law, Delivers Immediate Aid To Floridians

After two years of delays, the Federal Disaster Tax Relief Act of 2023 (H.R. 5863), endorsed by Congressman Byron Donalds (R-FL), has been signed into law by the President, providing crucial tax relief to disaster victims across the country,

by: MSN

Trump tariffs will be a mix of negotiating tactics and actual policies, says Wolfe Research's Marcus

Tobin Marcus, Wolfe Research head of policy and politics, joins CNBC's 'The Exchange' to discuss what to expect from the new Trump administration on tariffs, what his base case is, and more.

by: MSN

Ethics complaint filed against Councilmember on allegations of 'harassing and retaliatory behaviors'

Donna Purvis' lawyer tells WHAS11 her client is aware of the ethics complaint and "will respond to the allegations made through the appropriate process."

by: MSN

North Dakota Health and Human Services looking for input on new Medicaid strategy

North Dakota Health and Human Services (NDHHS) is looking for your input on a draft of next year's Medicaid Quality Strategy plan.

by: MSN

Gov. Inslee suggests 'wealth tax' to avoid cuts to education and police

Gov. Jay Inslee proposed a tax on personal wealth above $100 million in hopes of plugging a budget shortfall and averting cuts.

by: MSN

Winners and losers from the 3-month CR

Negotiations over a short-term spending bill turned out to be more painful and prolonged than leaders in either party expected. Why it matters: Agreeing to a three-month bill should not be this hard.

by: MSN

Trump's EV subsidy rollback raises alarm for Hyundai and battery makers

U.S. President-elect Donald Trump is expected to repeal subsidies for electric vehicles (EVs) and scale back support for the EV industry. The incoming Trump administration will also likely impose tariffs on battery materials imported to the United States.

by: MSN

GOP senators voice reservations about RFK Jr.'s views on agriculture and abortion

by: MSN

Columbia County commissioners release statement on incorporation and consolidation

Columbia County Board of Commissioners Chairman Doug Duncan has released a statement regarding the incorporation and consolidation of the county.

by: MSN

Key Bridge federal government funding included in Continuing Resolution

The Baltimore BRIDGE Relief Act has been included in the Continuing Resolution, according to Maryland Senators Chris Van Hollen and Ben Cardin.

by: MSN

China Warns UK Over Spy Allegations and Political Manipulation

China has accused the United Kingdom of creating unnecessary trouble over a recent incident involving a spy and a national security case. The situation has sparked fresh tensions between the two nations,

by: MSN

Potential scenarios for Prime Minister Justin Trudeau and the Liberals

The Liberal government was thrown into disarray this week when Chrystia Freeland stepped down from cabinet as finance minister, reviving calls for Prime Minister Justin Trudeau to step down or call an election.

by: MSN

Climate neutrality: OECD and EU countries best equipped to lead the way, says report

Under the Paris Climate Agreement, nations around the globe committed to achieving climate neutrality by 2050. But how determined are OECD and EU countries in pursuing this goal? A recent monitoring report by the Bertelsmann Stiftung reveals that Sweden,

by: MSN

Frank Bellotti, former Massachusetts attorney general and political heavyweight, dead at 101

Frank Bellotti, Massachusetts' former three-term attorney general and one-time lieutenant governor, died Tuesday at 101, his family said in a statement. Bellotti was unsuccessful in his three bids to take over the Governor's Office but still held an influential post in local politics.

by: MSN

Canada pushes net-zero electricity target to 2050 as Alberta vows legal challenge

The federal government has pushed its target to achieve a net-zero electricity grid back 15 years to 2050 as part of new clean electricity regulations announced Tuesday — though officials maintain that target date was always the goal.

by: MSN

Democrats divided over Biden administration response to reported drone sightings

The Biden administration's response to mounting public concern over alleged drone sightings in the Northeast is dividing Democrats on Capitol Hill, where some lawmakers are defending the executive assurances that there's no threat to public safety and others are bashing the various agencies for not providing proof to back those claims.

by: MSN

Beijing says China and US can achieve "great things" together

China's foreign minister has said that Beijing and Washington can achieve "many great things" if they work together rather than against one another.

by: MSN

Scottish Government to cease use of WhatsApp by spring, says Forbes

Scottish Government to cease use of WhatsApp by spring, says Forbes - The Scottish Government had been criticised for its handling of informal messages from the pandemic.

by: MSN

Tuberville: Trump and RFK Jr. came to 'agreement' on abortion

Sen. Tommy Tuberville (R-Ala.) said on Tuesday that Robert F. Kennedy Jr. told him he has come to an agreement with President-elect Trump on the issue of abortion, concluding the matter will be left to the states to decide.

by: MSN

AOC played the inside game - and insiders rejected it (for now)

ANALYSIS: The progressive Democrat went from being an insurgent to trying to be an ally of the Democratic caucus. The vote for Oversight shows the limits of that strategy, Eric Garcia reports

by: MSN

Republican Senator Says RFK Jr. Assured Him He And Trump Have An 'Agreement' On Abortion

"He is not much older than me, so he's got a lot more knowledge than I do," the Republican said of RFK Jr. The post Republican Senator Says RFK Jr. Assured Him He And Trump Have An 'Agreement' On Abortion first appeared on Mediaite.

by: MSN

Virginia's 13 electors cast their ballots for president and vice president

Virginia's 13 electors cast their ballots for Vice President Kamala Harris for president, and Minnesota Governor Tim Walz for vice president.

by: MSN

All those mysterious drone sightings? The government says don't worry about it

A string of mysterious drone sightings over the East Coast of the U.S. has provoked a lot of anxiety about where they're coming from and who's flying them. A coalition of government agencies, however,

by: MSN

How Congress can end DC's lawfare and one-party federal bias

As we prepare for a new presidency, we need to think about fixing Washington, DC. No, I'm not just talking about the "drain the swamp" sense of reforming — and hopefully shrinking — the federal bureaucracy.

by: MSN

Australia's government spends its way to bigger budget deficits

Australia's government on Wednesday trimmed its likely budget deficit for the current fiscal year, but flagged bigger shortfalls ahead due to "unavoidable spending" on health, cost-of-living relief and veterans care.

by: MSN

Biden's Cabinet stand by statements of support as term draws to a close

With a month left in office, Biden's Cabinet reaffirms support, stating confidence in his leadership and fitness despite ongoing controversy and debate.

by: MSN

'Collateral damage': Former GOP finance chair warns Trump tariffs would be a disaster

Former House Financial Services Chair Jeb Hensarling (R-TX) has a stark warning for President-elect Donald Trump and the GOP Congress in the Wall Street Journal: tariffs are not going to balance the budget.

by: MSN

National security expert says Pentagon likely too 'embarrassed' to admit drone activity

A veteran soldier and national defense expert believes that if the Pentagon is refusing to reveal the source of a recent flurry of drone activity, it's likely because they are involved. "Usually when they don't say anything it's because the information will embarrass them in some way,

by: MSN

More world leaders from Argentina and El Salvador invited to Trump's inauguration

More world leaders are confirming they have been invited to President-elect Donald Trump's inauguration, and Argentine President Javier Milei is disclosing his plans to travel to Washington, breaking an American political tradition that kept foreign heads of state away from the transfer of power.

by: MSN

Donald Trump Sues Iowa Pollster Who Said He Trailed Harris: What We Know

President-elect Donald Trump is suing an Iowa pollster over a survey released before November's presidential election that showed Vice President Kamala Harris leading in the state. The lawsuit, filed on Monday,

by: MSN

Hamas: Ceasefire-Hostage Deal "Possible" After Doha Talks

After a brief statement from Hamas regarding the hostage negotiations, Becky Anderson and Jeremy Diamond report on what we know and what is still unclear.

by: MSN

Arkansas Gov. Sarah Huckabee Sanders appoints retired Colonel and Director of Military Affairs as Secretary of Veterans Affairs

Gov. Sarah Huckabee Sanders said she is appointing a retired Colonel with experience in state government as secretary of the Arkansas Department of Veterans Affairs.

by: MSN

John Spratt, South Carolina congressman and fiscal steward, dies at 82

Mr. Spratt, an Ivy League and Oxford graduate whose father was a prominent lawyer and banker in York, combined the authenticity of a local son with the erudition of a pedigreed pr

by: MSN

Space Force must grow to counter China and Russia, lawmaker says

The leader of the House Armed Services Committee said Tuesday the Space Force needs to grow in size to overcome increasing threats from China and Russia. Rep. Mike Rogers, R-Ala., was a key player in establishing the Space Force five years ago.

by: MSN

Gloomier economy to shape election as government spends another $19 billion

The Albanese government will spend an extra $19 billion on childcare, healthcare and other priorities as it prepares to face voters without the economic recovery it had hoped for, the mid-year budget has revealed.

A decade of deficits and a modest $5.5b election war chest

The budget is not estimated to return to surplus for at least a decade, and cumulative deficits over the next four years will be almost $22 billion larger than forecast in May.
The article from the Australian Financial Review discusses the federal government's financial outlook as outlined in the mid-year economic and fiscal outlook (MYEFO). It highlights that Australia is facing a decade of budget deficits, with the current year's deficit projected at $1.1 billion, significantly lower than previously forecasted due to higher commodity prices and a stronger labor market. Despite this, the government's financial position remains weak with gross debt expected to reach $1 trillion by 2026-27. The article also notes that the government has a modest $5.5 billion set aside for pre-election spending, which is considered insufficient for significant policy announcements or voter incentives. Treasurer Jim Chalmers has emphasized fiscal responsibility, focusing on managing inflation and cost-of-living pressures rather than engaging in expansive spending. The piece also touches on the political implications, suggesting that the opposition might use the government's fiscal constraints to their advantage in the upcoming election campaign.

Read the Full The Australian Financial Review Article at:
https://www.afr.com/politics/federal/a-decade-of-deficits-and-a-modest-5-5b-election-war-chest-20241218-p5kz6x