International
United Nations on brink of financial collapse

MxM News
Quick Hit:
The United Nations is teetering on the edge of a financial collapse, with internal projections showing the organization could run out of money to pay salaries and suppliers by September.
Key Details:
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The UN has reportedly already slashed $600 million from its $3.7 billion operating budget this year, freezing hiring and moving some jobs out of New York in a desperate bid to avoid default.
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A memo shows the Trump administration is weighing a full halt in payments to the UN, potentially triggering a $1.1 billion deficit this year.
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Late or missing payments from 41 countries—including the U.S., China, Argentina, and Mexico—totaled $760 million last year, with just 49 member states paying on time.
Diving Deeper:
The United Nations is confronting a full-scale financial emergency that could leave it unable to pay staff or fund its core functions within months, according to a report published this week by The Economist. Secretary-General António Guterres has already slashed the UN’s core operating budget by $600 million—about 17%—in a bid to avoid a shutdown, but the crisis appears to be spiraling beyond his control.
Internal UN projections now warn that without additional cost-cutting or a surge in payments, the organization will run a $1.1 billion shortfall by year’s end. That would exhaust its reserves and leave the global body unable to fund its General Assembly, peacekeeping missions, or human rights operations as early as September. Guterres, in a letter seen by The Economist, has warned that the peacekeeping budget could run dry by mid-year.
The UN’s budget problems stem from a mix of chronic late payments and uncollected dues. Member states are required to pay their assessed contributions annually, based largely on the size of their economies. But many now pay late—some not at all. In 2024, nearly 15% of total contributions arrived in December, undermining the UN’s ability to manage expenses throughout the year. As of now, 41 countries—including the U.S., Argentina, and Venezuela—owe a combined $760 million in unpaid dues. Just 49 nations paid on time.
The U.S. and China, each responsible for about 20% of the UN’s total budget, are among the most consequential delinquents. While China did pay its bill in 2023, the money didn’t arrive until December 27th—too late to be fully spent, triggering a rebate under UN rules that forced the organization to return unused funds to all members, even those who hadn’t paid. The UN now estimates that it will have to issue a $300 million rebate in 2026 and a $600 million rebate in 2027—roughly 17% of its entire operating budget.
The situation with the United States is potentially more destabilizing. A White House memo reportedly indicates that President Trump is considering a total suspension of America’s $2.3 billion in annual dues as part of a broader reevaluation of U.S. involvement in international organizations. Trump had previously frozen payments to global bodies, dismantled USAID, and ordered a sweeping review of U.S. commitments to multilateral institutions, including the UN.
Under Article 19 of the UN Charter, any country that fails to pay its dues for two consecutive years risks losing its voting rights in the General Assembly. The U.S. currently owes around $3 billion—just shy of the $4.5 billion threshold that would trigger the rule. If Trump follows through, the U.S. could lose its vote by 2027.
This would not be the first time a major power tested the limits. During the Cold War, both France and the Soviet Union withheld payments over disputes regarding peacekeeping missions. To avoid enforcing the penalties, the General Assembly simply stopped holding votes—paralyzing the body out of fear that enforcing the rule would break it entirely.
Today, with cash drying up and political will fraying, UN diplomats are again sifting through precedents from the past—searching for answers, and bracing for what could be a seismic blow to the institution.
Daily Caller
‘Not Held Hostage Anymore’: Economist Explains How America Benefits If Trump Gets Oil And Gas Expansion

From the Daily Caller News Foundation
Economist Steve Moore appeared on Fox Business Tuesday to discuss what he called the significance of expanding domestic oil and gas production in the United States.
President Donald Trump’s Executive Order 14154 aims to secure U.S. energy independence and global leadership by awarding 10-year oil and gas leases. During an appearance on “The Bottom Line,” Moore said that if Trump’s energy policies succeed then America will no longer have to rely on foreign oil.
“If Trump goes forward with what he wants to do, and our energy secretary is all in on this, produce as much oil and gas as we can here at home in Texas and North Dakota and Oklahoma and these other states. Then we’re not held hostage anymore to what’s happening in the Middle East,” Moore said. “That’s what’s so frustrating. We have more of this stuff than anybody does.”
WATCH:
Moore then pointed to some of former President Joe Biden’s early decisions, particularly the cancellation of pipelines. Moore said these actions left the U.S. vulnerable to external energy crises.
“I don’t want to overemphasize the Strategic Petroleum Reserve. It’s good that we have this sort of safety knot in case you have some kind of blow up in the Middle East, like we have now. But, ultimately, what Joe Biden did was the most sinister of all,” Moore said. “You guys remember what was the first thing when he became president? He canceled pipelines. He destroyed our energy infrastructure.”
During his first term, Trump signed executive orders to advance major pipelines, including instructing TransCanada to resubmit its application for a cross-border permit for the Keystone XL Pipeline, which is designed to transport oil from the tar sands of Alberta, Canada to refineries on the Gulf Coast. On his first day in office, Biden revoked the permit for the Keystone XL Pipeline, effectively halting its development.
Business
Trump makes impact on G7 before he makes his exit

Trump Rips Into Obama and Trudeau at G7 for a “Very Big Mistake” on Russia
At the G7 in Canada, President Trump didn’t just speak—he delivered a headline-making indictment.
Standing alongside Canada’s Prime Minister, he directly blasted Barack Obama and Justin Trudeau, accusing them of committing a “very big mistake” by booting Russia out of the G8. He warned that this move didn’t deter conflict—it unleashed it, and he insists it paved the way for the war in Ukraine.
Before the working sessions began, the two leaders fielded questions. The first topic: the ongoing trade negotiations between the U.S. and Canada. Trump didn’t hesitate to point out that the issue wasn’t personal—it was philosophical.
“It’s not so much holding up. I think we have different concepts,” Trump said. “I have a tariff concept, Mark [Carney] has a different concept, which is something that some people like.”
He made it clear that he prefers a more straightforward approach. “I’ve always been a tariff person. It’s simple, it’s easy, it’s precise and it just goes very quickly.”
Carney, he added, favors a more intricate framework—“also very good,” Trump said. The goal now, according to Trump, is to examine both strategies and find a path forward. “We’re going to look at both and we’re going to come out with something hopefully.”
When asked whether a deal could be finalized in a matter of days or weeks, Trump didn’t overpromise, but he left the door open. “It’s achievable but both parties have to agree.”
Then the conversation took an unexpected turn.
Standing next to Canada’s Prime Minister, whose predecessor helped lead that push, Trump argued that isolating Moscow may have backfired. “The G7 used to be the G8,” he said, pointing to the moment Russia was kicked out.
He didn’t hold back. “Barack Obama and a person named Trudeau didn’t want to have Russia in, and I would say that was a mistake because I think you wouldn’t have a war right now if you had Russia in.”
This wasn’t just a jab at past leaders. Trump was drawing a direct line from that decision to the war in Ukraine. According to him, expelling Russia took away any real chance at diplomacy before things spiraled.
“They threw Russia out, which I claimed was a very big mistake even though I wasn’t in politics then, I was loud about it.” For Trump, diplomacy doesn’t mean agreement—it means keeping adversaries close enough to negotiate.
“It was a mistake in that you spent so much time talking about Russia, but he’s no longer at the table. It makes life more complicated. You wouldn’t have had the war.”
Then he made it personal. Trump compared two timelines—one with him in office, and one without. “You wouldn’t have a war right now if Trump were president four years ago,” he said. “But it didn’t work out that way.”
Before reporters could even process Trump’s comments on Russia, he shifted gears again—this time turning to Iran.
Asked whether there had been any signs that Tehran wanted to step back from confrontation, Trump didn’t hesitate. “Yeah,” he said. “They’d like to talk.”
The admission was short but revealing. For the first time publicly, Trump confirmed that Iran had signaled interest in easing tensions. But he made it clear they may have waited too long.
“They should have done that before,” he said, referencing a missed 60-day negotiation window. “On the 61st day I said we don’t have a deal.”
Even so, he acknowledged that both sides remain under pressure. “They have to make a deal and it’s painful for both parties but I would say Iran is not winning this war.”
Then came the warning, delivered with unmistakable urgency. “They should talk and they should talk IMMEDIATELY before it’s too late.”
Eventually, the conversation turned back to domestic issues: specifically, immigration and crime.
He confirmed he’s directing ICE to focus its efforts on sanctuary cities, which he accused of protecting violent criminals for political purposes.
He pointed directly at major Democrat-led cities, saying the worst problems are concentrated in deep blue urban centers. “I look at New York, I look at Chicago. I mean you got a really bad governor in Chicago and a bad mayor, but the governor is probably the worst in the country, Pritzker.”
And he didn’t stop there. “I look at how that city has been overrun by criminals and New York and L.A., look at L.A. Those people weren’t from L.A. They weren’t from California most of those people. Many of those people.”
According to Trump, the crime surge isn’t just a local failure—it’s a direct consequence of what he called a border catastrophe under President Biden. “Biden allowed 21 million people to come into our country. Of that, vast numbers of those people were murderers, killers, people from gangs, people from jails. They emptied their jails into the U.S. Most of those people are in the cities.”
“All blue cities. All Democrat-run cities.”
He closed with a vow—one aimed squarely at the ballot box. Trump said he’ll do everything in his power to stop Democrats from using illegal immigration to influence elections.
“They think they’re going to use them to vote. It’s not going to happen.”
Just as the press corps seemed ready for more, Prime Minister Carney stepped in.
The momentum had clearly shifted toward Trump, and Carney recognized it. With a calm smile and hands slightly raised, he moved to wrap things up.
“If you don’t mind, I’m going to exercise my role, if you will, as the G7 Chair,” he said. “Since we have a few more minutes with the president and his team. And then we actually have to start the meeting to address these big issues, so…”
Trump didn’t object. He didn’t have to.
By then, the damage (or the impact) had already been done. He had steered the conversation, dropped one headline after another, and reshaped the narrative before the summit even began.
By the time Carney tried to regain control, it was already too late.
Wherever Trump goes, he doesn’t just attend the event—he becomes the event.
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