New York City is getting a fresh face in its government. Zohran Mamdani, the mayor-elect, has chosen Dean Fuleihan to be his first deputy mayor. This is a big deal because Fuleihan is a seasoned pro with over 40 years in government. He's known for his skills in managing money, which is crucial for a city with a massive budget of around $120 billion. Mamdani's choice...
A recent proposal by a prominent political figure involves using tariff money to send out annual checks to people. The idea is to give everyone $2, 000 each year, but not to those with high incomes. This plan is similar to the stimulus checks given during the COVID-19 pandemic. However, experts are raising concerns about the numbers. They say that sending out these ...
Britain's finance chief, Rachel Reeves, has hinted that the Labour government might need to raise taxes to meet its financial goals. This is a big deal because the government promised not to raise taxes on working people during the election. Reeves mentioned that sticking to this promise would mean making tough choices, like cutting back on important investments. Sh...
San Diego is making strides in fixing its money problems, but there's still a long road ahead. The city has made big improvements in the last year by cutting costs and bringing in more money. Even with these gains, they're still looking at a $110 million shortfall in the 2026-27 budget. Looking at the next five years, things are better than they were before. The tot...
The crypto world is keeping a close eye on the US Senate's recent budget deal. This agreement could finally put an end to the longest government shutdown in history. The deal, which has enough votes to pass, is a big step towards reopening the government. Bitcoin's price has been on a wild ride during this shutdown. It first shot up to a new high of $126, 080 but th...
In a move that could reshape the UK's tax landscape, Finance Minister Rachel Reeves is reportedly considering a significant income tax increase. This proposal is part of a broader strategy to meet fiscal targets and address economic challenges. The plan involves raising income tax by 2 pence while simultaneously cutting National Insurance contributions by a similar ...
MetroHealth System is in a tight spot. They're looking at a $31 million shortfall for 2026. This isn't new for them. It's the fourth year in a row they're in the red. They're not alone. Many hospitals are struggling with money. But MetroHealth's problems are getting worse. They just okayed a $2. 2 billion budget for 2026. It's got to get the final thumbs up from Cuy...
NATO's new defense spending target of 5% of GDP by 2035, set at the 2025 summit, is a big deal. But it's not as straightforward as it seems. The plan splits spending into two parts: 3. 5% for traditional defense and 1. 5% for broader security needs. The problem? No one knows exactly what counts as the latter. This lack of clarity could lead to some creative bookkeep...
The UK's money boss, Rachel Reeves, has warned that the upcoming budget will be tough. She blames past governments for the current mess, pointing to Brexit and years of tight spending. She says the country isn't producing as much as it should, which means less money coming in. This makes it hard to pay off debts and fund important services. But it's not all about th...
Many countries have rules to control their spending. These rules are supposed to keep things in check. But sometimes, they can cause more problems than they solve. Take Britain, for example. The country has two main fiscal rules. One says that tax revenues must be higher than day-to-day spending. The other says that debt must fall as a percentage of GDP. These rules...