U.S. Faces Fiscal Crisis; Incoming Administration Plans Tax Cuts and Spending Reductions
The incoming U.S. administration faces a critical fiscal crisis marked by rising mandatory spending, insufficient revenue, and a soaring national debt; plans include tax cuts and spending reductions, but their effectiveness remains uncertain due to legal and political challenges.
U.S. Faces Fiscal Crisis; Incoming Administration Plans Tax Cuts and Spending Reductions
The incoming U.S. administration faces a critical fiscal crisis marked by rising mandatory spending, insufficient revenue, and a soaring national debt; plans include tax cuts and spending reductions, but their effectiveness remains uncertain due to legal and political challenges.
Progress
48% Bias Score
Spain Passes Energy Tax, Delays Diesel Levy
The Spanish government approved a temporary energy tax for 2025 with green investment incentives, delayed a diesel tax increase until March, extended social support measures, and made several other fiscal changes on December 2024.
Spain Passes Energy Tax, Delays Diesel Levy
The Spanish government approved a temporary energy tax for 2025 with green investment incentives, delayed a diesel tax increase until March, extended social support measures, and made several other fiscal changes on December 2024.
Progress
40% Bias Score
Trump's Debt Ceiling Proposal Shakes Up US Politics
President-elect Trump unexpectedly called for abolishing or extending the debt ceiling until 2029, a position at odds with traditional Republican stances, prompting debate about its economic and political implications, given the over \$36 trillion national debt.
Trump's Debt Ceiling Proposal Shakes Up US Politics
President-elect Trump unexpectedly called for abolishing or extending the debt ceiling until 2029, a position at odds with traditional Republican stances, prompting debate about its economic and political implications, given the over \$36 trillion national debt.
Progress
40% Bias Score
Colombia's Central Bank to Make Cautious Interest Rate Cut Amidst Uncertainty
The Bank of the Republic in Colombia will likely cut interest rates by a maximum of 50 basis points this Friday, a decision influenced by internal changes within the bank, concerns about inflation despite its recent decrease, and external risks such as potential US protectionism and fiscal uncertain...
Colombia's Central Bank to Make Cautious Interest Rate Cut Amidst Uncertainty
The Bank of the Republic in Colombia will likely cut interest rates by a maximum of 50 basis points this Friday, a decision influenced by internal changes within the bank, concerns about inflation despite its recent decrease, and external risks such as potential US protectionism and fiscal uncertain...
Progress
40% Bias Score
Germany's Economic Relief Package: Limited Impact Despite Tax Cuts and Child Benefit Increase
Germany's new economic relief package, effective January 2024, includes a €5 increase in child benefit to €255, tax bracket adjustments to counter cold progression, and increased child tax allowance. Despite this, the Institute of German Economy predicts many households will still have less net inco...
Germany's Economic Relief Package: Limited Impact Despite Tax Cuts and Child Benefit Increase
Germany's new economic relief package, effective January 2024, includes a €5 increase in child benefit to €255, tax bracket adjustments to counter cold progression, and increased child tax allowance. Despite this, the Institute of German Economy predicts many households will still have less net inco...
Progress
36% Bias Score
Japan Approves Tax Reforms to Fund Defense Spending, Raising Concerns About Fiscal Health
Japan's ruling parties approved tax reforms to fund a 43 trillion yen defense budget increase starting in 2026, raising corporate and tobacco taxes while also increasing income thresholds for young adults, despite concerns about reduced government revenue.
Japan Approves Tax Reforms to Fund Defense Spending, Raising Concerns About Fiscal Health
Japan's ruling parties approved tax reforms to fund a 43 trillion yen defense budget increase starting in 2026, raising corporate and tobacco taxes while also increasing income thresholds for young adults, despite concerns about reduced government revenue.
Progress
32% Bias Score
UK Economy Stagnates, Raising Recession Fears
Britain's economy showed zero growth in the third quarter of 2024, according to the Office for National Statistics, raising concerns about a potential recession under the new Labour government, while business confidence is at its lowest point of 2024, and household savings are being depleted.
UK Economy Stagnates, Raising Recession Fears
Britain's economy showed zero growth in the third quarter of 2024, according to the Office for National Statistics, raising concerns about a potential recession under the new Labour government, while business confidence is at its lowest point of 2024, and household savings are being depleted.
Progress
52% Bias Score
German Government Collapse Spurs Consideration of Expansionary Fiscal Policy
Following a no-confidence vote, German Chancellor Olaf Scholz's government fell, leading to snap elections in late February. Despite a robust economy, Germany faces challenges including energy dependence, aging infrastructure, and geopolitical pressures, prompting consideration of a more expansive f...
German Government Collapse Spurs Consideration of Expansionary Fiscal Policy
Following a no-confidence vote, German Chancellor Olaf Scholz's government fell, leading to snap elections in late February. Despite a robust economy, Germany faces challenges including energy dependence, aging infrastructure, and geopolitical pressures, prompting consideration of a more expansive f...
Progress
40% Bias Score
House Rejects Spending Bill, Triggering Federal Shutdown
The House rejected a compromise spending bill, triggering a federal government shutdown before Christmas due to Republican concerns over the national debt and the bill's inclusion of a two-year debt limit extension. 38 Republicans voted against the bill, despite support from advisory Department of G...
House Rejects Spending Bill, Triggering Federal Shutdown
The House rejected a compromise spending bill, triggering a federal government shutdown before Christmas due to Republican concerns over the national debt and the bill's inclusion of a two-year debt limit extension. 38 Republicans voted against the bill, despite support from advisory Department of G...
Progress
60% Bias Score
Germany Approves Tax Cuts to Offset Inflation
The German parliament approved tax cuts totaling 564 euros over two years, to offset inflation's impact on taxpayers; additionally, adjustments to the solidarity surcharges and child benefits were approved.
Germany Approves Tax Cuts to Offset Inflation
The German parliament approved tax cuts totaling 564 euros over two years, to offset inflation's impact on taxpayers; additionally, adjustments to the solidarity surcharges and child benefits were approved.
Progress
36% Bias Score
UK Debt Falls to Three-Year Low in November
In November, UK government borrowing fell to £11.2bn, defying forecasts of £13bn and marking the lowest November figure since 2019, owing to lower interest payments (£3bn) and higher tax receipts, offering Chancellor Rachel Reeves temporary respite from budget criticism.
UK Debt Falls to Three-Year Low in November
In November, UK government borrowing fell to £11.2bn, defying forecasts of £13bn and marking the lowest November figure since 2019, owing to lower interest payments (£3bn) and higher tax receipts, offering Chancellor Rachel Reeves temporary respite from budget criticism.
Progress
48% Bias Score
MAGA Movement Blocks Bipartisan Deal, Risks Government Shutdown
House Speaker Mike Johnson and Democrats reached a bipartisan deal to prevent a government shutdown, but the MAGA movement, spurred by Elon Musk's misinformation and Trump's and Vance's opposition focused on a debt-ceiling increase, blocked it, risking a shutdown and mirroring the three shutdowns du...
MAGA Movement Blocks Bipartisan Deal, Risks Government Shutdown
House Speaker Mike Johnson and Democrats reached a bipartisan deal to prevent a government shutdown, but the MAGA movement, spurred by Elon Musk's misinformation and Trump's and Vance's opposition focused on a debt-ceiling increase, blocked it, risking a shutdown and mirroring the three shutdowns du...
Progress
52% Bias Score