"That's a dangerous thing," he said Thursday during an interview with Bloomberg TV, describing a scenario where demand and prices for Treasuries fall as foreign interest in the market declines.
Without the half-percent sales tax increase, which would generate an estimated $9 million per year for the city's general fund if voters approve it this November, Berkeley could face deeper cuts including shuttering a fire station, laying off police officers and reducing hours at city pools and recreation centers.
The World Bank's recent report argues that government intervention, when done right, can actually be an essential ingredient of economic success, reversing decades of opposition to industrial policy.
"My constituents are saving thousands of dollars and they know it. Republicans can and should take credit because the alternative would've been massive tax hikes under the Democrats had they won the 2024 election."
The tax provides more than $23 billion per year in revenue for federal highway and public transit programs. The federal gas tax has been in place, in one way or another, since 1919 and was last raised in 1993.
"The historical evidence reveals a striking pattern: government bonds have repeatedly generated substantial real losses during these extreme episodes. They have even underperformed equities and real estates which are traditionally regarded as risky assets."
This is not an argument against continuing to line things up just so, of course. It just means that the very orderly person will over time become a very familiar face to the people at The Container Store, to the point where they might remark to each other during their breaks about having seen him, again, purchasing more of those stackable, breakable containers that he's always getting.
A surge in capital gains tax, employers' National Insurance contributions and a boost in income tax receipts helped buoy the government's finances last month. An uptick in tax receipts, which far outstripped spending, created a 30.4bn surplus in January. The Office for National Statistics (ONS) said it was the highest surplus in any month since records began in 1993, without adjusting for inflation, and nearly double last January's 15.4bn figure.
According to the text that has now been adopted, the budget deficit is to be reduced to 5% of gross domestic product. There will be higher taxes on some businesses, including an extra tax on large companies' profits, which is expected to bring in around 7.3 billion ($8.6 billion) in 2026. The plan also boosts military spending by 6.5 billion, a move the premier last week described as the "heart" of the budget.
I have not touched a paper note for months. I don't even have money to pay for a taxi. Now we walk a lot, for long distances. Palestinians in Gaza use the Israeli currency, the shekel, in their daily transactions, and depend on Israel to supply banks with new banknotes and coins.
Like [Keir] Starmer, the chancellor is also fighting for her political life whether because the prime minister himself falls, or chooses to move his chancellor in a reset reshuffle. Against that backdrop, Reeves hopes to project calm and competence next week, after a tumultuous 18 months.
