The US budget deficit reached a record $1.147 trillion for the first five months of fiscal 2025, fueled by increased spending and factors such as tariffs.
Scott Bessent's confirmation as U.S. Treasury Secretary positions him to tackle significant economic challenges, including tax cuts and rising budget deficits.
Scott Bessent's Senate confirmation as U.S. Treasury Secretary marks a significant step in Trump's administration's economic focus on tax cuts and spending.
Experts urge Hong Kong to issue more bonds and tap into reserves to tackle its structural budget deficit, emphasizing the need for aggressive measures to ensure fiscal stability.