Arab Today, arab today qnb group budget deal does not change longterm us fiscal outlook
Last Updated : GMT 07:08:14
Arab Today, arab today
Arab Today, arab today

QNB group: Budget deal does not change long-term US fiscal outlook

Arab Today, arab today

Arab Today, arab today QNB group: Budget deal does not change long-term US fiscal outlook

Doha - QNA

The main benefit of this budget deal is that it avoids another government shutdown over the next two years. The deal will increase discretionary spending in the short-term, easing the pain of sequestration. However, the budget deal keeps government spending lower than envisaged before the sequestration, which will lead to an additional drag on US economic growth of about 0.5% of GDP in 2014. QNB Group therefore forecasts the US economy to grow by only 1.5% next year. Critically, the budget deal does not eliminate the potential for a renewed fiscal crisis. The deal does not include an increase in the US debt ceiling, which will again become binding on February 7, 2014. Unless this ceiling is raised, the US government will not be able to fund its operations, which would raise again the risk of an unprecedented default on US government debt. Over the medium term, the problem of containing health and social security entitlements has not been addressed by this budget deal. According to the Congressional Budget Office, these entitlements are expected to rise significantly to about 15.0% of GDP by 2023 as a large portion of the US population, the so-called baby boomers, retire. This represents a significant challenge to keep the fiscal deficit under control while having sufficient room to address the growing infrastructure needs of the US economy. The current budget deal leaves it to a subsequent Congress to address this challenge. Overall, the budget deal does not change the US long-term fiscal outlook, according to QNB Group. While it avoids another government shutdown, it does not address the challenge of reducing entitlements over the medium term. Moreover, it does not address the risk of a possible government default once the US debt ceiling becomes binding again early next year. As a result, QNB Group keeps to its current forecast of 1.5% US growth in 2014.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today qnb group budget deal does not change longterm us fiscal outlook Arab Today, arab today qnb group budget deal does not change longterm us fiscal outlook

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday