Defense Spending

AP

Popes and Politicians Alike Need a Hand These Days

Immediately after Pope Francis became the leader of the world's 1.2-billion Catholics this week, he prayed for guidance. And it's little wonder. He is the newly elected CEO of the Vatican. The United States, despite a currency mantra of "In God We Trust," has also been forced to undergo serious soul-searching following its 2008 fiscal catastrophe.
AP

Looming US Spending Cuts Will Hurt Canadian Growth: Economists

MONTREAL - Canada likely faces slower economic growth even if the United States manages to avoid default on its debt or a credit rating downgrade, economists said Wednesday.The U.S. government's need to cut spending by between US$2 trillion and US$4 trillion over a decade would delay its recovery and drag down Canada's rebound because the two economies are so closely linked.