Thailand's government plans for a budget deficit of 450 billion baht ($12.7 billion) for the 2018 fiscal year, largely due to allocations for public investment, its finance minister said on Thursday (12/01). Thai officials have said they expect the deficit for fiscal 2017 to reach around 580 billion baht after initially forecasting a 390 billion baht deficit and then announcing new investment projects.

Outside analysts disagreed. Most stock quote data provided by BATS. Spending on investment for the 2018 fiscal year, starting on Oct. 1 this year, is expected to increase to 23 percent, compared with 21-22 percent in the previous fiscal year, Finance Minister Apisak Tantivorawong told reporters. That was up from about $34.6 billion in 2017, an increase of nearly 20 percent. U.S. federal outlays for 2020 total $6.6 trillion, which is $2.2 trillion more than in 2019. As interest rates rise, servicing that ballooning debt could pose challenging. Since the first day of FY 2018 (October 1, 2017) fell on a weekend, monthly benefit payments that are typically made that day were instead made during last fiscal year. All times are ET. That would still be below a high of $1.4 trillion reached in 2009, but in a vastly different economy. The $113 billion increase in the deficit comes from largely flat revenue coupled with increasing spending. But the numbers released by Mr. Mnuchin’s department suggest falling revenues were a far larger contributor to the rising deficit than higher spending. It's a long way from the Republican stance under President Barack Obama, when the GOP-led House demanded about $1 trillion in budget cuts over 10 years in exchange for a debt ceiling increase, leading to years of painful automatic reductions to federal spending. Interest was the fastest growing portion of the budget, increasing nearly 24 percent since last year. The surplus for September 2018 is more than $60 billion higher than it otherwise would have been. Personal income tax collections rose slightly over the past fiscal year, the Treasury data show, though in September they were lower than they were a year ago. "Those elected to Congress this year will face stark and difficult choices to put the debt on a downward path and protect our nation's social programs from insolvency," said Maya MacGuineas, the group's president.

A budget deficit typically occurs when expenditures exceed revenue. WASHINGTON — The federal budget deficit swelled to $779 billion in fiscal year 2018, the Treasury Department said on Monday, driven in large part by a sharp decline in corporate tax revenues after the Trump tax cuts took effect. All rights reserved. The spending deal (the Bipartisan Budget Act of 2018) was estimated to cost $68 billion, which would account for about 60 percent of the increase. Bangkok. "The president is very much aware of the realities presented by our national debt," Mulvaney said in a statement. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Government receipts were flat this year from last year. Here is the data for September 2018, which includes data for all of Fiscal Year 2018.

So he walks to school, Restaurant owner: We're back where we started in March, Here's how a Covid-19 vaccine could help the global economy, Fed Chair on stimulus: There's little risk of overdoing it, Mom of three: They shouldn't have to worry how we can eat the next day, Ohio mom facing eviction: I'm just thinking about my kids, Furloughed worker: 'I'm at the top of the roller coaster with no harness', Mom juggling work and remote learning: I can't maintain this. “Going forward, the president’s economic policies that have stimulated strong economic growth, combined with proposals to cut wasteful spending, will lead America toward a sustainable financial path.”. “President Trump prioritized making a significant investment in America’s military after years of reductions in military spending undermined our preparedness and national security,” Treasury Secretary Steven Mnuchin said in a statement. Government Budget in Cambodia averaged -3.78 percent of GDP from 1994 until 2018, reaching an all time high of -0.07 percent of GDP in 2008 and a record low of -8.60 percent of GDP in 2009. Why is the stock market soaring.

That is why we should plan for a bigger budget deficit than last year," Apisak said. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Thailand's government plans for a budget deficit of 450 billion baht ($12.7 billion) for the 2018 fiscal year, largely due to allocations for public investment, its finance minister said on Thursday (12/01). Federal Budget Surplus for September 2018: Federal Budget Surplus for September 2017: Debt Held by Public through Fiscal Year 2018: Debt Held by Public through Fiscal Year 2017.

"Thailand's economy has many engines that are about to be ignited. It is expected to reach nearly $1 trillion next year and continue growing indefinitely unless Congress acts to put the budget on a more sustainable path. Other deficit increasing legislation in FY 2018 added $32 billion to the 2018 deficit. There was a deficit of $779 billion in the 2018 fiscal year, the highest in six years, despite the fact that the Administration requested a $100 billion decrease in the deficit instead. That's not the real story," Mnuchin told CNN. The Committee for a Responsible Federal Budget, a think tank that warns of the dangers of rising debt levels, said the deficit could reach $1 trillion as soon as next year. When Republican leaders were against spending, Another 751,000 Americans filed first-time jobless claims, US economy grew in Q3 but the crisis isn't over, See how Texans are fighting to keep their businesses alive, Asian Americans facing historic unemployment during pandemic, 'Have to laugh to keep from crying': Business owner struggling amid pandemic, This fourth-grader doesn't have WiFi at home. Outlays were up $127 billion over FY 2017. Congressional Budget Office. The deficit is 3.9 percent of Gross Domestic Product (GDP), also up from 3.5 percent in 2017. The Agriculture Department saw a 7% bump from last year. The Treasury Department today released a fiscal year-end report showing that the deficit for FY 2018 increased to $779 billion, a $113 billion (or 17 percent) increase from FY 2017. Bangkok. Millions of Americans are out of work. The big revenue drop came on the business side. (Reuters Photo/Damir Sagolj). A Note from Michael Peterson on the Impact of the Pandemic, the harmful fiscal effects of policies enacted over the previous several months.

The deficit rose nearly 17 percent year over year, from $666 billion in 2017.

That's more than the cost of Medicaid, food stamps, and the department of Housing and Urban Development combined. To keep up to date on the current figure, follow @NationalDebt on Twitter or Facebook. LIFESTYLE- All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Treasury Department data show the federal budget deficit rose to $779 billion in fiscal year 2018, an increase of nearly 17 percent year over year. Treasury Department data show the federal budget deficit rose to $779 billion in fiscal year 2018, an increase of nearly 17 percent year over year. Thailand's government plans for a budget deficit of 450 billion baht ($12.7 billion) for the 2018 fiscal year, largely due to allocations for public investment, its finance minister said on Thursday (12/01). This index contains a complete list of all announcements and technical changes related to the Budget, as well as providing links to the documents they appear in. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. In late September, the House passed a bill that would extend individual tax cuts that are currently are slated to end in 2025, at a cost of $631 billion over a 10-year window. Deputy Prime Minister Somkid Jatusripitak, who also attended the budget meeting with senior government officials, said the budget deficit is not expected to have an impact on public debt to GDP which would still remain at around 45 percent. But this fiscal picture is a blunt warning to Congress of the dire consequences of irresponsible and unnecessary spending. Revenues are now nearly a percentage point lower than their average for the last 40 years, the Treasury Department said in its news release. The Budget deficit for 2017/18 is expected to be $18.2 billion, falling to $14.5 billion in 2018/19. It is now on pace to top $1 trillion a year before the next presidential election, according to forecasts from the Trump administration and outside analysts. One area of increased revenue came from Mr. Trump’s tariffs, which he has imposed on foreign steel and aluminum and $250 billion worth of Chinese imports. The Treasury Department released its final Monthly Treasury Statement for Fiscal Year (FY) 2020, showing a record $3.1 trillion deficit for... Democratic presidential nominee and former Vice President Joe Biden has proposed a significant agenda to address health care coverage and costs. The deficit rose to $779 billion in fiscal year 2018, up 17% from last year, according to final figures released Monday by the Treasury Department.

Revenue was up only $14 billion, or 0.4 percent. For the full 2018 fiscal year, corporate tax receipts were nearly $205 billion. That was a slowdown from previous years.

The White House has steadfastly defended its policies, arguing that the yawning gap is a reason to cut deeper into social programs to balance out increases to the military budget. The deficit increased significantly in FY 2018. All rights reserved. Cumulative Federal Deficit Through September 2018. Estimates for 2018-19 188 – 193 Medium Range Forecast 194 – 198 Concluding Remarks 199 – 203 This speech, together with the supplement and appendices relating to the 2018-19 Budget, is available at www.budget.gov.hk.

They rose by 0.5 percent between 2015 and 2016, when economic growth was considerably slower than it has been over the last year.

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