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Government Spending

'Bumpy start': World Bank trims China growth forecast to 7.6%
​The Chinese economy continues to cool, and the World Bank has lowered its 2014 forecast to 7.6 percent growth, down from an earlier 7.7 percent. The global recovery remains shaky as 2014 kicks off with a “bumpy start”.

07.04.2014 11:19

Japan hikes sales tax first time in 17 years
Japanese consumers stocked up on necessities or splurged on luxury goods before April 1, when sales tax increased for the first time since 1997 from 5 to 8 percent. Tax revenues will help combat deflation and tackle the country’s $10 trillion public debt.

01.04.2014 11:00

‘US looking for a major enemy to justify its defense spending'
As US spending on defense reaches $1 trillion a year and defense giants such as Boeing gain increased lobbying power, the US must justify this money by creating tangible enemies around the world, political analyst Patrick Hennigsen told RT.

30.03.2014 19:49

​UK continues mass experiment in human despair
UK Chancellor of the Exchequer George Osborne has confirmed that the Tory-led government's policies to cut public spending are set to continue, but the food banks don't lie.

20.03.2014 06:59

US considers relaxing prison sentences for lesser drug offences
Shorter prison sentences for less serious drug trafficking offenses could dramatically cut US federal prison spending and herald the beginning of a new justice system under a new proposal being endorsed by Attorney General Eric Holder.

13.03.2014 10:28

Britain hires US-blacklisted company to sell off army kit
The UK’s Ministry of Defence has hired a Kuwaiti firm blacklisted by the US government to sell off its leftover equipment in Afghanistan. Agility Logistics landed an army contract to set up desert auctions for gear not valuable enough to take back.

11.03.2014 12:12

Pensions in Ukraine to be halved - sequestration draft
The self-proclaimed government in Kiev is reportedly planning to cut pensions by 50 percent as part of unprecedented austerity measures to save Ukraine from default. With an “empty treasury”, reduction of payments might take place in March.

06.03.2014 11:33

​What price taxation? Swiss privacy and the truth about offshore banking
Nowhere was the unedifying hubris of the bankster classes more obvious than in Swiss real estate. Not the private banking halls off Zurich’s Paradeplatz but rather their office portfolio in the heart of the USA.

04.03.2014 11:34

Troika ‘governor’ of European ‘colonies’: Lawmakers fed up with debt crisis tactics
​European lawmakers are calling into question the ability of the Troika to effectively deal with the crisis, and many are attacking its methods. An investigation report due in April will look at the handling of the Greek sovereign debt debacle.

26.02.2014 08:38

Four more cancers to be covered by insurance program for 9/11 first-responders
The United States Department of Health and Human Services program that provides care to first-responders injured during the September 11, 2001 terrorist attacks will now extend coverage to victims with four types of cancer previously not considered.

21.02.2014 20:36

All washed out: What floods reveal about UK political elite
The terrible impact that the ongoing floods have had over large parts of Britain - and the government response to the disaster - tells us much about the political system we now live under and in whose interests our government acts.

20.02.2014 08:00

US House raises $17.2 trillion debt ceiling, no strings attached
The US House of Representatives has agreed to raise the government’s borrowing cap until March 2015, without specifying the exact limit. It's a huge shift as the bill was approved for the first time in three years with no conditions from Republicans.

12.02.2014 14:38

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