Wednesday, February 3, 2010

Ocean of red ink

MOST rich-country governments will struggle with huge budget deficits in 2010. A decade ago small surpluses were common in many rich countries (although not in Japan), but these are long gone. As economies pull out of recession, government spending will have to be cut and, with luck, tax revenues will gradually rise again. But paying off debts will be an enormous and painful task, which could also prolong the pain inflicted by the economic slump. On Monday February 1st Barack Obama made a start for America, unveiling his budget for 2011 which proposes cutting or consolidated 120 programmes, with savings expected to total $20 billion.

Blowing hot and cold What to make of the latest row between China and America over Taiwan?

Space to thrive


A plan to overhaul America’s space agency is long overdue

Canada : Economic Outlook 2010