HKFP resolves tax investigation for HK$57k after auditors find an alleged HK$3k deficit, seeks assistance
Hong Kong FP Resolves Tax Audit with Payment Hong Kong Free Press (HKFP) has recently paid HK$57,692 to settle a nearly two-year-long tax audit. According to the audit, there was only an alleged tax shortfall of HK$3,020 found during an investigation covering their accounts from 2021 to 2022. This shortfall was estimated to be about […]
The Unseen Price of America’s Trade Deficit Is a Lasting Budget Deficit
The Real Story Behind America’s “Harmless” Deficit There’s been a lot of chatter about America’s trade deficit. Recently, a group of economists submitted a brief in a lawsuit against the Trump administration’s tariff policies, insisting that trade deficits are harmless. They argue that these deficits are merely the counterpart to capital inflows. In other words, […]
Harvard reports a deficit exceeding $110 million amid ongoing funding conflict with Trump
Harvard University Faces Financial Challenges Amid Political Strain Harvard University has described the past fiscal year as “extremely difficult,” largely influenced by ongoing tensions with the Trump administration. President Trump has withheld over $2 million in federal research funding, voicing concerns about Harvard’s alleged inability to tackle anti-Semitic behavior on campus. This has led to […]
National deficit reaches $1.8 trillion due to unprecedented debt interest expenses
Warnings About National Debt and Spending Maya McGuineas, the chairperson of the Committee for a Responsible Federal Budget, expressed concerns about the country’s $38 trillion debt, which she described as “unsustainable.” She urged lawmakers to prioritize reform of entitlement programs and restore fiscal discipline. The Congressional Budget Office (CBO) released projections this Wednesday indicating that […]
Budget Deficit Reached $1.8 Trillion In 2025, According To CBO
Federal Budget Deficit Reaches $1.8 Trillion The Congressional Budget Office (CBO) announced on Wednesday that the federal budget deficit for the fiscal year ending on September 30 hit $1.8 trillion. This figure is just $8 billion shy of the deficit recorded in fiscal year 2024. The CBO noted that revenues saw a rise of about […]
Trump has shown that we can reduce the U.S. trade deficit using tariff income.
Navarro Discusses Trade Deficits and Tariffs Peter Navarro, who served as a Senior Counselor to President Donald Trump, recently addressed the topic of tariffs and their impact on trade deficits. He emphasized that the U.S. has been facing a persistent trade deficit exceeding $1 trillion annually. According to him, this long-term deficit has resulted in […]
Guardians close in on AL Central lead after overcoming a 15 1/2 game deficit
CLEVELAND – George Valera connected for a two-run homer in the third inning, while Jose Ramirez contributed a two-run double in the seventh, helping the Cleveland Guardians rally from a 15.5 game deficit to claim the lead in their division, making history as the first major league team to defeat the Detroit Tigers on Wednesday […]
Colorado provides financial support to Planned Parenthood during a $1.2 billion budget deficit.
Colorado Democrats Approve Medicaid Refund Despite Budget Issues During a special legislative meeting last week, Colorado Democrats greenlit a Medicaid refund for Planned Parenthood, even though the state is grappling with a budget deficit that could reach $1.2 billion. House minority leader Rose Pugliese remarked that the Democrats, in this special session, seemed to be […]
Bitcoin moves closer to $100K as concerns grow over US trade deficit and issues in Chinese banks.
Key Points: The increasing US trade deficit, insider stock sell-offs, and struggling Chinese banks have caught the attention of global investors. Bitcoin sellers, including large holders and miners, continue to offload their assets, but broader economic weakness seems to be driving the market trends. Bitcoin (BTC) has recently dipped to its lowest price in 50 […]
Bessent: Annual U.S. tariff revenue might exceed $500 billion, reducing the deficit
Tariff Revenue Projections Surge U.S. Treasury Secretary Scott Bescent recently stated that the revenue generated from President Donald Trump’s tariffs might surpass $500 billion annually, with some forecasts even suggesting it could reach up to $1 trillion. During a cabinet meeting at the White House on Tuesday, Bescent remarked on this notable increase from earlier […]