budget deficit

The U.S. national debt recorded its third “depressing achievement” in the last 12 months, topping $34 trillion to close out 2023, according to the latest Treasury Department Debt to the Penny data. On Dec. 29, 2023, the national debt climbed approximately $90 billion in one day, to exceed $34.001 trillion. It took Washington roughly three […]

The U.S. annual budget deficit has increased 23 percent from last year, to just under $1.7 trillion, prompting one fiscal policy expert to remark that “we are a nation addicted to debt.” The budget deficit was $320 billion higher this year than the last, hitting $1.695 trillion, according to the Treasury Department’s final monthly treasury […]

The national debt eclipsed $33 trillion on Sept. 15, while the budget deficit is on track to reach $2 trillion in the current fiscal year. Experts say that the public is becoming numb to these figures because they have become the new normal in Washington. But while soaring debt and deficits are the status quo […]

As President Joe Biden on Monday touted his apparent deficit-cutting mettle, a nonpartisan fiscal policy research group warned of an “unprecedented” explosion in the federal budget deficit, which it said is on track to double to $2 trillion this year. In a Labor Day speech in Philadelphia on Monday, President Biden touted his economic policies […]

The U.S. government’s budget deficit surged in May from the same time a year ago, as federal revenues declined and Medicare spending soared, new Treasury Department data revealed. According to the Monthly Treasury Statement, the May shortfall surged to $240 billion, up from $66 billion a year earlier. The consensus estimate was a $236 billion […]

For the first four years as California governor, Gavin Newsom has touted a budget surplus. But after years of spending and funding some of the country’s most progressive policies, the state is now facing a budget deficit.

California could face a $25 billion budget deficit in 2023–24, despite raking in a record-setting $98 billion budget surplus this year, according to an analysis that comes days after midterms election, in a state where the Democratic party enjoys a supermajority. “The budget problem is mainly attributable to lower revenue estimates, which are lower than […]

WASHINGTON—The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month. In its monthly budget report, the Treasury Department said Monday that the deficit for […]

The Treasury Department says the U.S. budget deficit in the first 10 months of this budget year has hit a record high. The White House and Democrats say they’re still miles apart on a new stimulus package. We see how the president’s executive orders have changed things. Uber’s CEO says the company might stop services […]

WASHINGTON—The U.S. economy will grow at a “solid” rate of 2.2 percent this year, the non-partisan Congressional Budget Office forecast on Tuesday, but with federal budget deficits hitting $1.015 trillion. While the economy will be on good footing during this presidential election year, CBO also noted that conditions will lead to “higher inflation and interest […]