The number one crude oil exporter, Saudi Arabia, has projected a $39 billion deficit in 2015. The impact of lower oil prices, along with the decision not to cut production, is putting pressure on the country’s finances. The figure was part of the endorsed 2015 budget, which was made public in a statement read out on state-run television on Thursday. The estimated trade deficit will be Saudi Arabia’s... 

America, its government, businesses, and people are nearly $60 trillion in debt, according to the latest economic data from the St. Louis Federal Reserve. And private debt, not government borrowing, is the biggest reason for the huge deficit. Total US debt at the end of the first quarter of 2014, on March 31 totaled almost $59.4 trillion – up nearly $500 billion from the end of the fourth quarter... 

US President Obama on Sunday insisted that the nation needs additional tax revenue, some of which the government could acquire by closing or reducing loopholes and deductions. “There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit,” the president said in an interview aired on CBS. “And we can do it in a gradual way so that it... 

Provisional figures released by Greece’s national statistics authority have shown the country’s deficit and public debt for 2011 are worse than estimated. According to provisional data published by ELSTAT statistics agency on Monday, the 2011 deficit stood at 9.4 percent of gross domestic product and the public debt at 170.6 percent. “The revisions as regards the debt ratios are primarily... 

US Senator Jim Webb China is one of the biggest economies in the world and grew at more than 9 percent over the last year. It also has loaned more than $1 trillion to the U.S. to fund its deficit-spending. But at the same time, the U.S. sends foreign aid to China, which lawmakers of all stripes say is just plain nuts. “Why in the world would we be borrowing money and then turn around and giving... 

President Obama‘s budget, released Monday, was conceived as a blueprint for future spending, but it also paints the bleakest picture yet of the current fiscal year, which is on track for a record federal deficit and will see the government’s overall debt surpass the size of the total U.S. economy. Mr. Obama‘s budget projects that 2011 will see the biggest one-year debt jump in history, or nearly... 

WASHINGTON – In a chilling forecast, the White House is predicting a 10-year federal deficit of $9 trillion — more than the sum of all previous deficits since America’s founding. And it says by the next decade’s end the national debt will equal three-quarters of the entire U.S. economy. But before President Barack Obama can do much about it, he’ll have to weather recession...