Latest news with #Deficit
CTV News
04-07-2025
- Business
- CTV News
CTV National News: Alarm bells over Canada's growing deficit
Watch New reports suggest the government will have to make cuts to public service to meet election promises without growing the deficit. Mike Le Couteur explains.
CBS News
04-07-2025
- Business
- CBS News
Medicaid cuts in "big, beautiful bill" worry some Tri-State Area families
The nonpartisan Congressional Budget Office estimates President Trump's "big, beautiful bill" will add $3 trillion to the deficit. To pay for that, lawmakers made deep cuts to safety net programs, including Medicaid, which is concerning for some families in the Tri-State Area. "What are we supposed to do?" Theresa Luoni, of Basking Ridge, New Jersey, is a full-time caregiver for her autistic twin sons. "They both get speech and occupational therapy through Medicaid, and they rely on these systems for not just their health care but their education," she said. She now worries what will happen to her family as the federal tax and spending bill passed by Congress aims to cut nearly $1 trillion from Medicaid. "So to think that there won't be a reduction in services is kind of silly when there's so much money being cut from the budget," Luoni said. Luoni is waiting to see what, if any, of her sons' services that are funded by Medicaid will be impacted. "I think all the parents of vulnerable children — whether you're living in poverty or have disabled children — are feeling the same way I am right now. Like, what are we supposed to do?" Luoni said. "How do you trade somebody's life over overtime?" The Congressional Budget Office estimates the Medicaid cuts could leave nearly 12 million Americans uninsured. "It's going to kick over 1 million New Yorkers off their medical coverage," said Nancy Hagans, president of the New York State Nurses Association. The legislation will eliminate federal taxes on tips and overtime pay, including for nurses like Hagans. "How do you trade somebody's life over overtime?" she said. "We are being asked as health care workers to say, I would rather receive an extra 50 cents over somebody else's life." One of the biggest changes will be strict work requirements for some Medicaid recipients. There are exceptions for poor parents of children under 14 years old. Rep. Mike Lawler praises increased cap on SALT deductions The 900-page bill boosts security and United States Immigration and Customs Enforcement, increases defense spending and extends Trump's 2017 tax cuts, which includes an increase in the child tax credit and raises the cap on state and local tax deductions. "This will cover, in my district, 90 percent of my constitutions will be able to fully deduct their state and local taxes, and I live in one of the highest taxed districts in the country," Rep. Mike Lawler said.
Time of India
01-06-2025
- General
- Time of India
The importance of nature for children
Deepanjali Singh is a published author, poet, painter, and educationist who loves working with children. Passionate about wildlife, she has authored a picture book for children that educates young readers about tigers LESS ... MORE Some of my happiest memories as a child are the ones with my maternal grandfather, who used to take me for an early morning walk from an early age. From when I was 2 years old, he would pick me up when I got tired. He would often show me birds, peacocks in the fields, cows in the cowshed, and the crops of the season, like sugarcane and wheat, as my nana's house was surrounded by fields and fruit trees in the garden. We cousins would spend our holidays running around, climbing trees, and plucking fresh fruit to eat as a snack when we got hungry. Now that I think of it, I guess this is where my love for wildlife, nature, and birding came from. He made me connect with nature from such an early age. Even today, no matter where we travel to, we as a family make it a point to connect with nature and undertake activities relevant to the surroundings, like birdwatching or an animal safari. It could also be something simple, like a nature walk without any plans. Times have changed. Life is busier now, and families have become nuclear. This change is so drastic that you see children who cannot eat a meal at a restaurant without watching a cartoon on a mobile. Parents are looking for easier escapes like malls rather than a picnic with cousins or a trip to the zoo. Do not undermine a simple walk around the colony, a small nature trail, just dipping your feet in a stream, a visit to a farm, or even a simple walk in a field. In today's time, global warming is a reality that brings the younger generation closer to nature. Let them play and admire trees, bugs, and butterflies. If we want to save the Earth and reverse global warming, it is important to connect our youngsters to nature. When children experience what it is like to play in a river, to run in a field, to climb a tree, to watch animals, and to see a bird up close, they start understanding why we need to protect this. It is only when we love something that we understand how and why to protect it. It is like this – how do you know what a butterfly is? Once you have seen one, you understand its beauty and its importance for the ecosystem, and then realise what it is like not to see one ever again. I encourage schools, and not just parents, to help children understand the importance of nature, to save water, play more, and grow plants. A simple walk in the park teaches a child so much. They notice ants, bugs, snails, earthworms, trees, plants, flowers, and the sky. Connecting children with nature is not just important for protecting the Earth, but also very good for their physical and mental health. Richard Louv, in his book Last Child in the Woods, written in 2005, came up with the term 'Nature Deficit Disorder', which means that in recent years, human beings—especially children—are spending less time outdoors, resulting in behavioural problems. When children spend more time indoors, they feel alienated from nature, have reduced attention spans, and become more vulnerable to negative moods. Connecting with nature has these benefits for children: Builds self-confidence Playing in nature involves less structured play than most indoor activities. How they interact and treat nature teaches them that they have control over their actions. Promotes creativity and imagination Children can interact more freely, design their own games, and come up with innovative ideas. They can build things with twigs and leaves or look at clouds and imagine different shapes, like animals, just by lying down on the grass. Increases responsibility Taking care of a plant teaches a child to take responsibility for a living organism, meaning if they do not water a plant, it will die. Similarly, if they do not protect trees, butterflies, and the environment, what are the ramifications for the future? Provides more stimulation Nature provides more stimulation to the five senses as compared to video games and confined environments. Nature gets us moving A child moves around more outdoors in nature rather than in an indoor activity where they are sitting in one place for a longer period. Not only does a walk get their blood moving, but it is also good for physical development and makes them more focused. Encourages critical thinking and reduces stress Interacting with nature in their backyard or parks in everyday life makes children aware of the Earth and what it does for us. Being in nature reduces stress, as in a natural environment our brain practises a natural phenomenon called light fascination, which creates feelings of pleasure and reduces stress. The way to build a child's bond with nature does not have to be an elaborate one. It can be a simple thing like the chorus of birds at dawn or a walk on the grass. Imagine a future where each child carries a love for nature to save the Earth. It is a tangible possibility and not just a dream if we encourage them to bond with this marvel and not mobile phones. Families get closer when we spend more time in nature. The digital age often pulls our children indoors, creating a disconnect with the natural world. Now more than ever, let us bridge this gap. By prioritising outdoor experiences, we invest in their health, their happiness, and ultimately, the future of our planet. Let the exploration begin today! Let us bring back the way we lived our childhood for our children. 'We must teach our children to smell the earth, to taste the rain, to touch the wind, to see things grow, to hear the sunrise and night fall—to care.' – John Cleal. Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.
Zawya
22-05-2025
- Business
- Zawya
Japan's portfolio reshuffle raises red flag for US: Mike Dolan
LONDON - Washington has plenty of homegrown reasons to be worried about the U.S. debt trajectory, but shifting Japanese investor preferences are adding one more question mark about who will keep funding America's rising deficit. Most U.S. investors would typically treat the ructions seen in Japan's bond market on Tuesday as a sideshow. But they come just as markets are absorbing the loss of the U.S. government's only remaining AAA credit rating and an impending U.S. budget bill that will likely bake in outsized deficits for years to come. And in that environment, the jolt in Tokyo could point to more trouble ahead for global bond markets. Tepid investor demand at a 20-year Japanese government bond auction saw borrowing rates on the country's 30- and 40-year sovereign debt soar 15-20 basis points to new records well above 3%. Twenty-year yields hit their highest since 2000. Japan has long faced its own mountainous debt problem of course. An eye-watering 260% debt-to-GDP ratio is by far the highest among all major economies, and new Prime Minister Shigeru Ishiba now has to grapple with these thorny fiscal metrics just as the Bank of Japan backs away from decades of bond market support. But the curious thing about Tuesday's long bond blowout was that there was little or no disturbance in JGBs of five years or less and only a relatively modest pop in 10-year yields. Some bond watchers put this discrepancy down to a strategic switch in thinking among Japan's giant pension and insurance funds. As the BoJ "normalizes" interest rates, these large investors appear to be reassessing their duration, currency risk and, perhaps worryingly for the U.S., their foreign debt holdings. 'DIMINISHING PRESENCE' According to strategists at Societe Generale, Japan's life insurers, who manage more than $2.6 trillion of assets, balked at zero or negative-yielding regular JGBs during the past decade of deflation and monetary life support. They chose to instead take on higher risk and earn higher returns in both ultra-long bonds at home and overseas debt. But this preference looks like it started shifting in recent years, with Japanese life insurers turning into net sellers of ultra-long debt during the first quarter of 2025, according to SocGen. What's more, this cohort appears to be retreating from overseas debt markets too, as soaring currency hedging costs due to rising yen volatility have turned effective yields on many foreign bond holdings negative. "Active purchasing of ultra-long-term JGBs and foreign bonds by Japanese life insurers has reached a turning point, making it unlikely for them to continue playing a supportive role," the French bank told clients. Pointing to net sales last year by Japanese investors of some $45 billion of European bonds, SocGen predicted a "diminishing presence" in foreign bond markets ahead that could add to volatility risks overseas and put upward pressure on the yen. This matters for overseas markets because of the scale of the money involved, especially in this nervy time when even a marginal retreat could chip away at sentiment for sovereign debt markets. Japanese investors overall held $2.3 trillion in foreign bonds as of the end of 2023, the last full year of data available, with about $1.4 trillion of that held by pension funds and insurers. And March U.S. Treasury Department international capital (TIC) data showed Japanese investors remain the single largest overseas grouping of Treasury holders, with $1.13 trillion of the market, some $350 billion more than is owned by Chinese entities. YEN FOR CHANGE Add Washington's trade tariff standoff with Japan to the mix, including speculation about the dollar's role in those negotiations, and the calculus around Japanese investments may shift further. Although Japanese officials deny they will make any commitment to allow the yen to rise as part of a bilateral agreement on trade, there's widespread acceptance that the U.S. administration would like to see a weaker dollar. President Donald Trump has routinely cited overseas currency capping as one irritant he aims to correct with his trade war. And overseas investors' fears of a large dollar drop could well generate the sort of investment outflows that catalyze a slide in the greenback. To be sure, the sheer size of the now $28.6-trillion Treasury market means shifting behavior of any one group of investors would just be at margins. But marginal buyers or sellers may pack a punch when markets are also repricing U.S. assets for more fundamental reasons. For America, any additional pressure on its biggest overseas creditor could be a case of "careful what you wish for." The opinions expressed here are those of the author, a columnist for Reuters. (by Mike Dolan; editing by Rod Nickel)
Bloomberg
21-05-2025
- Business
- Bloomberg
Risks Mount for US Financial Assets as Treasuries Teeter
The 30-year Treasury yield was firmly above 5% the last time I looked, at the highest since 2023 after a weak auction of 20-year debt. I am now officially worried about US bonds. Just last week, I was saying the downside risk from the tariff and economic picture hurts equities more than bonds. But the downgrade of the US credit rating by Moody's Ratings and the high-deficit budget being crafted in Congress have changed my view.
