budget deficit

A government report released Tuesday estimates that this year's budget deficit will rise to $544 billion, an increase over prior estimates that can be attributed largely to tax cuts and spending increases passed by Congress last month. The deficit and debt picture over the long-term has also worsened considerably.

Providing political ammunition to both parties, Congress' official budget analyst projected Tuesday that this year's federal deficit will drop to $426 billion, the lowest shortfall of Barack Obama's presidency.

The U.S. government ran a $53.2 billion surplus in December, signaling further improvement in the nation's finances.

President Barack Obama says the United States isn't "some banana republic" or a "deadbeat nation." He told workers at a Missouri auto plant, "We don't run out on our tab."

We haven’t gotten to this point yet, but you can see the storm clouds ‘a gathering. One of the most compelling New Jersey stories in recent days is the growing move by New Jersey towns and cities tomake up for budget shortfalls by imposing charges for emergency services and more onerous, imposing a plethora of fees and fines, forced on the public purely for money...

The budget deficit fell sharply in January compared to a year earlier, as an improving economy lifted income tax revenue.