BATON ROUGE - The first snapshot of next year's state budget shortfall has been unveiled to lawmakers, and it's grim. Gov. Bobby Jindal's budget advisers said Friday the state is short $963 million to continue running all existing programs and account for inflationary growth in the budget year that begins... more »
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 »
WASHINGTON - The federal budget deficit has topped $1 trillion for a fourth straight year. But the deficit for the just-ended 2012 budget year is $207 billion less than last year. The deficit totaled $1.1 trillion for 2012.
The government's revenue was boosted by a modest improvement in economic... more »
WASHINGTON - A new estimate puts the deficit for the just-completed 2012 budget year at $1.1 trillion, the fourth straight year of trillion dollar deficits on President Barack Obama's watch. The result was a slight improvement from the 2011 deficit of $1.3 trillion. The bleak figures from the Congressional Budget... more »
The Obama administration says the federal deficit hit a near-record $1.3 trillion for the just-completed budget year. That means the government had to borrow 37 cents out of every dollar it spent as tax revenues continued to lag while spending on food stamps and unemployment benefits went up as the... more »