Content Tagged As budget_deficit

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  • Budget deficit shrinks

    February 12, 2014 7:41 PM

    WASHINGTON- The government's budget deficit is predicted to shrink to its lowest level in six years if trends continue. It's down more than 36% from a year ago which signals more improvement in the U.S. economy. From October to January, the deficit was $184-billion, down $106-billion from the... more »
  • Lawmakers use amnesty to offset budget deficit

    January 24, 2014 12:51 PM

    BATON ROUGE - The state's operating budget is back in balance, after lawmakers agreed to use nearly $32 million from Louisiana's recent tax amnesty period to plug a deficit. The shortfall stemmed from a revision in the state's income estimates, because of worse-than-expected tax collections in the current fiscal year... more »
  • Lowest budget deficit in 5 years

    October 30, 2013 7:50 PM

    WASHINGTON- The U.S. government has run a budget deficit below $1 trillion for the first time in five years. The deficit is the gap between what the government takes in and spends. The deficit has an imbalance of $680-billion, down from more than a trillion last year. ... more »
  • Budget deficit on track below $1 trillion

    June 12, 2013 7:56 PM

    WASHINGTON- The government says the budget deficit is on track to finish below $1 trillion for the firs time since 2008 even though it widened last month by $139 billion. Steady economic growth and higher tax rates boosted the government's revenue by 15% this year while government spending barely increased.... more »
  • Obama: Budget shrinks deficits and expands economy

    April 10, 2013 10:18 AM

    WASHINGTON - President Barack Obama is sending Congress a $3.8 trillion spending blueprint that strives to achieve a "grand bargain" to tame runaway deficits. It would raise taxes on the wealthy and trim popular benefit programs including as Social Security and Medicare. The president's budget projects deficit reductions of $1.8... more »
  • Growth in budget deficit slows

    February 12, 2013 7:13 PM

    The federal government reports a rare surplus for January and the Treasury Department says its on track for the smallest budget deficit since President Obama took office. The surplus was almost $3 billion dollars. It lowered the deficit through the first four months of the budget year to $290 billion,... more »
  • Moody's pressures Congress to deal with deficit

    January 2, 2013 3:42 PM

    WASHINGTON- Moody's Investors Service says Congress must go beyond its deal this week and come up with a plan to shrink the budget deficit if it wants to keep the U.S. government's top credit rating. The credit rating agency says in a statement that it expects lawmakers in the coming... more »
  • Senate GOP leader: Obama should offer deficit plan

    November 13, 2012 3:28 PM

    WASHINGTON - Senate Republican Leader Mitch McConnell says it's up to President Barack Obama to present a deficit reduction plan rather than a campaign slogan to Congress. The Kentucky Republican said that like House Speaker John Boehner, he is ready to support new revenue as part of a deal that... more »
  • US government runs $120 billion October deficit

    November 13, 2012 1:30 PM

    WASHINGTON - The federal government started the 2013 budget year with a $120 billion deficit, an indication that the nation is on a path to another $1 trillion-plus deficit. The Treasury Department says the October deficit was 22 percent higher than the same month last year. Officials said last year's... more »
  • Group of major CEOs urges tax hikes, spending cuts

    October 25, 2012 1:55 PM

    WASHINGTON - CEOs from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending. With a sea of red ink confronting the nation, the deficit and how to tame it has become a looming theme in the presidential campaign. The... more »
  • U.S. budget deficit rises

    August 10, 2012 7:42 PM

    The federal budget deficit increased by $70 billion last month and is on track to top $1 trillion for the fourth straight year. The budget year ends in September and the Treasury Department says the deficit stands at $974 billion. Its about eleven and a half percent less than last... more »
  • Lafayette budget deficit stirs debate

    March 28, 2012 8:20 AM

    LAFAYETTE - Next year's Lafayette city-parish government budget might need to be $5 million leaner. A discussion on Tuesday about the need for two new fire stations expanded into a debate over how the administration and council will find the estimated $5 million in new revenue that might be needed... more »
  • Government on pace for smaller deficit

    January 12, 2012 7:40 PM

    The federal deficit was lower in the first quarter of the budget year than last and is seen as modest progress for a nation struggling with trillion-dollar deficits. The imbalance is high by historical standards and should keep Congress debating tax increases and spending cuts into the year leading up... more »
  • Budget Deficit Improves

    December 12, 2011 7:15 PM

    The federal government is on pace to run a budget deficit under one trillion dollars for the first time in four years. The Treasury Department says the deficit is $236 billion for the first two months of the budget year but $55 billion lower than the same two months last... more »
  • Federal deficit tops $1T for third straight year

    August 10, 2011 1:16 PM

    WASHINGTON - The nation's budget deficit has topped $1 trillion for a third straight year, adding pressure on Congress and the White House to make more progress on a long-term plan to shrink the growing imbalance. The Treasury Department says the deficit through July totals $1.1 trillion. Three... more »
  • Federal budget deficit hits April record

    May 12, 2010 2:11 PM

    The month of April was not a good one for the U.S. economy, as the federal budget deficit hit an all-time high. Treasury Department officials say the April deficit soared to $82.7 billion, the largest deficit ever for that month. Economists say the lack of income tax payments... more »
  • Rapides schools eye options to avoid layoffs

    April 29, 2010 6:24 AM

    Rapides Parish school officials are shaping a plan to help avoid layoffs. Superintendent Gary Jones said he is fine-tuning details of a plan that aims to save money while sparing employees' jobs. The plan centers on a 10 percent cut from the general fund that will affect at least 30... more »
  • Jindal proposes cuts to fill deficit

    April 16, 2010 12:31 PM

    Gov. Bobby Jindal proposes cutting about $60 million from state agencies and public colleges and tapping into an array of one-time funds to close a $319 million budget deficit. The $29 billion budget must be rebalanced before the fiscal year ends June 30. Jindal unveiled his recommendations Friday. ... more »
  • Baton Rouge delegation meets with Gov. Jindal

    December 21, 2009 5:15 PM

    Baton Rouge area lawmakers filed into the governor's mansion early this afternoon. They met with Governor Bobby Jindal to help develop a plan for a $248 million dollar budget shortfall. The deficit is mostly because of low tax revenue. Some lawmakers say the state should have made better... more »
  • State budget deficit grows

    December 17, 2009 2:09 PM

    The state's budget picture just keeps growing worse. The latest state revenue forecast adopted Thursday dropped income estimates by another $197 million this year, leaving the state with a midyear deficit to close. Economist Greg Albrecht, with the Legislative Fiscal Office, says sales tax revenue has plummeted, and the uptick... more »
  • West Feliciana looks to raise money for schools

    November 18, 2009 4:15 PM

    The number two school district in the state is facing financial woes. The West Feliciana School System is facing a $1.2 million budget deficit. Administrators are trying to find a way to raise money to make up for a lack of tax revenue and increase in expenditures. The... more »

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