Negotiators are seeking to salvage the credibility of the World Trade Organization at a meeting in Bali this week, as the lack of agreement over farm subsidies threatens to end 12 years of talks on a global trade pact.
The head of the Congressional Budget Office gave a bipartisan conference committee three choices for cutting the U.S. deficit: increase taxes, make deep cuts in entitlement spending or cut other programs.
The patchwork of tiny rice paddies that have decorated the terraced hillsides and alluvial plains of Japan for centuries is under threat as the government presses aging farmers to consolidate holdings or switch crops.
Congressional aides are looking at reductions to mandatory programs outside of Social Security and Medicare to replace automatic spending cuts hurting research and the Pentagon, said two aides involved in the process.
Croatia’s budget deficit will widen past the European Union’s ceiling this year and next as slow growth and rising borrowing costs hamper efforts by the bloc’s newest member to consolidate its public finances.