French Government Announces 60 Billion Euro Spending Cuts and Tax Hikes to Tackle Deficit

Published on October 11, 2024

France’s government’s 2025 budget is planning 60 billion euros ($65.68 billion) worth of spending cuts as well as tax hikes in a bid to reduce its spiraling fiscal deficit. The new measures, announced on Thursday by new Prime Minister Michel Barnier’s administration, aim to bring the deficit down to 5 percent of GDP by next year, from the current 6.1 percent. This is the first step towards meeting the European Union’s EU 3 percent limit by 2029, it said. France’s national debt is projected to reach nearly 115 percent of GDP in 2025, with interest payments set to become the largest budgetary item, surpassing defense and education....

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Auroras Illuminate Skies but Geomagnetic Storm Could Hamper Hurricane Recovery Efforts: NOAA

October 11, 2024
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Coast Guard Rescues Man Floating on Cooler 30 Miles Off Florida Coast

October 11, 2024
A U.S. Coast Guard helicopter crew on Thursday rescued a man spotted floating on a cooler in the sea, dozens of miles off Florida’s Gulf Coast after Hurricane Milton struck.The Coast Guard said an Air Station Miami helicopter crew rescued the captain of a fishing vessel called “Capt. Dave” 30 miles off Longboat Key.He was transferred to Tampa General Hospital to undergo further treatment, official