#fiscal-austerity
#fiscal-austerity

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Iran's government budget reveals tough road ahead as currency hits new low

Iran's currency collapse and soaring inflation will reduce real incomes, raise prices, force spending cuts, and increase taxes, worsening living standards next year.

fromFortune

3 weeks ago

The most likely solution to the U.S. debt crisis is severe austerity triggered by a fiscal calamity, former White House economic adviser says | Fortune

One way or another, U.S. debt will stop expanding unsustainably, but the most likely outcome is also among the most painful, according to Jeffrey Frankel, a Harvard professor and former member of President Bill Clinton's Council of Economic Advisers. Publicly held debt is already at 99% of GDP and is on track to hit 107% by 2029, breaking the record set after the end of World War II. Debt service alone is more than $11 billion a week, or 15% of federal spending in the current fiscal year.

US politics

#french-politics

fromwww.dw.com

3 months ago