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The Exchequer recorded a surplus of €1.2 billion in 2023, according to figures released by the Department of Finance. This compares with a surplus of €5 billion in 2022, with the decline driven by factors including increased public expenditure and the transfer of €4 billion to the National Reserve Fund (NRF) in February last year. An underlying deficit of around €6.5 billion was recorded for 2023 when “one-off” factors are excluded such as transfers to the NRF, proceeds from the disposal of bank equity and estimated “excess” corporation tax receipts. The latest Exchequer Returns show that corporation tax receipts amounted...

California Gov. Gavin Newsom (D) has asked the Biden administration to make federal aid available to California for flood relief, just months after billions of dollars in federal spending compounded the state’s budget surplus. In a statement Sunday, Newsom said that he had requested a federal emergency declaration, which would make federal funds available, in the ongoing deluge that has dropped heavy rains across his drought-stricken state. “I am requesting [Direct Federal Assistance] in order to meet critical emergency protection requirements in the form of personnel, mass care support, mass shelter support, mass evacuation support, equipment, and supplies,” Newsom wrote...

There’s a nationwide shortage of Tylenol and other common pain medications. Meanwhile, there’s plenty of Fentanyl coming in through America’s porous southern border for anyone who wants to get high — or dead. CBS News reported Thursday on our “national shortage” of children’s Tylenol and other medicines have “retailers like CVS, Target and Walgreens” placing strict limits on how much medicine people can buy. Even though companies like Johnson & Johnson are producing new meds “around the clock,” shortages could nevertheless last “into early next year.” One reason for the shortages is a spike in demand caused by the annual...

The State of California will suffer a $25 billion deficit in 2023-2024, despite enjoying a record-setting $98 billion budget surplus this year, according to new analysis from the nonpartisan Legislative Analyst’s Office. The new projections, released Wednesday, come just over a week after elections in which Democrats, including Gov. Gavin Newsom (D), were reelected to every statewide office after a year of lavish public spending. The Legislative Analyst’s Office explained that the deficit could be even worse, if a recession is particularly bad (original emphasis):

SACRAMENTO, Calif. — California is entering the next budget year with a record-smashing surplus of nearly $100 billion, Gov. Gavin Newsom said Friday. Newsom unveiled a revised budget plan of just over $300 billion for the next fiscal year, the highest in state history and fueled by surging tax revenues. The state has collected $55 billion more in taxes than officials expected in January, leaving it with an estimated $97.5 billion surplus.

California officials report that the state’s expected budget surplus has risen dramatically, and could reach $68 billion — more than twice the amount President Joe Biden requested from Congress on Thursday to fund weapons shipments to Ukraine. The Golden State is one of several that is experiencing a surplus after fears of shortfalls in the early days of the coronavirus pandemic. Massive transfers from the federal government, as well as rising tax revenues, have contributed to the excess cash.

ANSING, Mich. (AP) — Gov. Gretchen Whitmer on Friday vetoed Republicans' proposal to permanently cut the state income tax, make more seniors eligible for deductions and restore a child tax credit, saying it would reduce funding for basic government services. The veto, which was expected, may prompt negotiations between GOP legislative leaders and the Democratic governor, who has called for more targeted tax breaks for retirees and lower-wage workers....... While Michigan has a $7 billion budget surplus, her administration says it is largely one-time revenue that cannot be counted on in future years..... “This plan would have cut taxes for...

EAGLE PASS, Texas — The State acquired a large quantity of 30-foot wall panels from the Biden Administration to utilize in the construction of a border wall. The materials came from federal contracts cancelled in January 2021. “Texas is the first state ever to build a border wall,” Governor Abbott began in an exclusive interview. “A lot of the border wall is being built by border wall material that there was a contract for, Texas bought it from contractors who built the wall for President Trump. We’re building the exact same wall.” “In addition, a lot of people saw on...

CHARLESTON, W.Va. — The state has now collected more than a half-billion dollars more in revenue this fiscal year than was originally projected. The Justice administration announced Wednesday that revenue collections for January were $146.9 million ahead of estimates putting year-to-date collection totals at $540.8 million above estimates. Collections have topped estimates in each of the fiscal year’s first 7 months. The January surplus total represents the largest surplus amount. Gov. Jim Justice said the state continues to break all-time records. “These numbers just didn’t happen by someone rolling off a pickle truck,” Justice said. “When it comes down to...

California Governor Gavin Newsom reported Monday in his annual state budget proposal that the state expects a $45.7 billion surplus — thanks partly to $26 billion received from President Joe Biden’s so-called coronavirus “relief” bill. Newsom announced the surplus Monday in a $286.4 billion budget, including spending that “will make California the first state in the nation to offer universal access to healthcare coverage for all state residents, regardless of immigration status.”

After more than a week of state budget negotiations, Gov. Phil Murphy and Democratic legislative leaders on Monday announced a deal to increase a popular property tax relief program and expand earned income, child and dependent care tax breaks in New Jersey. The agreement also follows through on their promise to send income tax rebates of up to $500 to many low- and middle-income taxpayers who have dependents in exchange for a tax increase on high-income earners.

The federal government recorded a $160.3 billion surplus in April as revenues for the month jumped to an all-time high. But even with a flood of tax receipts, the deficit so far this year is running 37.7% higher than a year ago. The Treasury Department reported Friday that the deficit for the first seven months of the budget year that began Oct. 1 totals $530.9 billion, compared to a deficit of $385.5 billion for the same period a year ago. The Trump administration projected in March that this year’s deficit will hit $1.1 trillion, up from last year’s deficit of...

BREAKING - Top US Source says "deal is done" re #NAFTA. Joint statement from @USTradeRep & Canada's Freeland expected soon. I'm told #NAFTA deal was reached around 9:30pm tonight. Canada giving a larger % of its dairy market to US products in exchange for cultural protection & some form of dispute resolution process (formerly Ch 19).

[BEIJING] A hotel in the Chinese city of Shenzhen plans to charge its US guests an extra 25 per cent amid a trade war between Beijing and Washington, according to the Global Times, a tabloid published by the ruling Communist Party's People's Daily. The Modern Classic Hotel Group had put up a notice at its hotel informing guests of the extra charge on American guests, the paper said in a report dated Thursday. "We put up the notice last Friday. Our boss was really angry about the endless tariffs the US planned to impose on China, so we decided to...

WASHINGTON — The trade war between the United States and China showed no signs of yielding on Thursday, as Steven Mnuchin, the Treasury secretary, told lawmakers there was no clear path to resolution and Beijing blasted the administration over its approach. (whaah) Trump is doing great. The first US President, who I dare say that about.

This is a video clip. From CNBC. With yet more whining from China, about our great president. :D Donald is turning into a great, great, president. Best ever.

The Congressional Budget Office is reporting that the federal government took in $515 billion in April. With outlays only $218 billion, the $190 billion surprlus represents the largest in history. What's more, the CBO said that the surplus was $40 billion more than expected. Washington Times: Analysts said they’ll have a better idea of what’s behind the surge as more information rolls in, but for now said it looks like individual taxpayers are paying more because they have higher incomes. “Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year,” the...

(CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today. January was the first month under the new tax law that President Donald Trump signed in December. During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000. Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the...

WASHINGTON (Reuters) - The U.S. government had a $182 billion budget surplus in April, confounding market expectations for a deficit, according to Treasury Department data released on Wednesday. The budget surplus was $106 billion in April 2016, according to Treasury's monthly budget statement. The fiscal 2017 year-to-date deficit was $344 billion compared with $353 billion in the same period of fiscal 2016. When accounting for calendar adjustments, the surplus last month was $145 billion compared with an adjusted surplus of $146 billion the prior year. The adjusted deficit for the fiscal year to date was $373 billion compared with $314...

‘Thank goodness for Kevin McCarthy!” isn’t something one says every day, but in the matter of President-elect Donald J. Trump’s backward and destructive plan to resurrect 19th-century tariffs, the gentleman from California is invaluable. Trump wants to impose 35 percent tariffs on . . . somebody. He does not seem quite sure. One of the reasons for that is that Trump has the question of trade deficits mixed up in his head with the question of offshoring and, like most Americans, he does not understand either of them very well. The president-elect, writing on Facebook (because that’s what presidents-elect...