US & Canada round-up: Watchdog finds US may have spent taxpayer dollars on Afghanistan schools that didn’t exist, and more

19 Jun 15

A round-up of recent public finance stories from the US & Canada you might have missed.

Watchdog: US may have spent taxpayer dollars on Afghanistan schools that didn’t exist

Though stories of the United States wasting taxpayer dollars to rebuild Afghanistan are common, the federal government always proudly pointed to its successes investing in education there. (Washington Post)

Government debt threatens to send US economy into death spiral, CBO warns

Rising federal debt threatens to choke economic growth within a decade, beginning a death spiral that will sap revenue from government programmes even as demands grow, forcing the government to borrow even more, Congress’ budget watchdog said in a frightening report. (Washington Times)

Ontario loses fiscal battle against “rust belt” states, report says

In the battle between Ontario and the so-called “rust belt” US states, this province comes out with a fiscal black eye. (Toronto Sun)

Janet Yellen sees nascent signs of pickup in US wage growth

BLOG: There are signs of a pickup in American workers’ wages, but the evidence isn’t yet definitive, Federal Reserve chairwoman Janet Yellen said. (Wall Street Journal)

Texas is spending $800m to increase border security

Texas governor Greg Abbott has approved spending $800m to amp up border security, causing speculation as to whether the state is creating its own border patrol. (Christian Science Monitor via Yahoo!)

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