Aug 20, 2016

U.S. Army fudged accounts by trillions of dollars, auditor finds

The United States Army’s finances are so jumbled it had to make trillions of dollars of improper accounting adjustments to create an illusion that its books are balanced. The Defense Department’s inspector general, in a June report, said the army made $2.8 trillion in ...

China eyes huge deficit to cushion reforms, slowing growth

Dec 30, 2015

China eyes huge deficit to cushion reforms, slowing growth

China could run its biggest budget deficit in perhaps half a century next year as leaders turn to government spending to arrest the slowdown in the economy, policy advisers say, after a year of easing monetary policy has brought disappointing results. The government is ...