US & Canada round-up: Obama says US not opposed to other countries joining China-proposed AIIB, and more

1 May 15

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

US President Barack Obama said that the United States didn't oppose other countries joining the China-proposed Asian Infrastructure Investment Bank (AIIB) and that it looks forward to collaborating with the new multilateral institution. (

The Federal Reserve downgraded its view of the US economy after a winter in which growth nearly froze. The Fed offered no sign that a rate increase might be coming soon. (AP via Lebanon Daily News)

The Federal Conservatives tabled the first balanced budget in eight years. The budget, which offered perks for seniors and small businesses and boosted military spending, posted a slight surplus of about $1.4bn. (

Finance Canada is failing to properly manage billions of dollars in tax credits it offers to Canadians and, in many cases, does not know if they are relevant, effective or achieving the government’s goals, says the federal auditor general. (Ottawa Citizen)

FEATURE: It’s been compared to a cliff, a storm, even Greece, but no matter the analogy, the predicament remains the same: States across America are facing a public pension crisis of major proportions. (Philadelphia News)

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