Latest Government budget deficits News

US budget deficit rises to $209 billion in November

Dec. 11, 2019 2:39 PM EST

WASHINGTON (AP) — The U.S. budget deficit rose by 2% last month to $209 billion, another step in a journey back toward $1 trillion-a-year budget shortfalls. The Treasury Department reported Wednesday that the federal government took in $225 billion in tax and other revenue but spent a record $434 billion...

Saudi Arabia's deficit widens to $49B ahead of Aramco sale

Dec. 9, 2019 2:33 PM EST

RIYADH, Saudi Arabia (AP) — Saudi Arabia will reduce spending in 2020 as the budget deficit widens to $49 billion amid sluggish oil prices and deeper curbs on oil production by the heavyweight producer. King Salman announced Monday expenditures will reach $272 billion next year, a nearly 8% decrease from...

Alaska governor marks 1st year in office amid turmoil

Nov. 29, 2019 10:15 AM EST

JUNEAU, Alaska (AP) — Last December, poor weather scrambled Alaska Gov. Mike Dunleavy’s inaugural plans, a bumpy start to a turbulent year marked by budget disputes and a recall threat. Dunleavy told The Associated Press recently he hopes to move past the rancor. Whether he can repair strained...

Powell urges Congress to tackle growing budget deficit

Nov. 14, 2019 3:23 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell on Thursday urged Congress to tackle the growing budget deficit but also underscored the current health of the nation’s economy. Powell’s testimony before the House Budget Committee came a day after he told Congress’ Joint...

The Latest: Powell dismisses recession concerns

Nov. 14, 2019 11:30 AM EST

WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell’s testimony before the House Budget Committee on Thursday (all times local): ___ 11:30 a.m. Fed Chairman Jerome Powell says the United States has the “star economy” in the world at the moment and there is no reason...

US budget deficit surges to $134.5 billion in October

Nov. 13, 2019 5:10 PM EST

WASHINGTON (AP) — The federal government, which ended the 2019 budget year with its largest deficit in seven years, began the new budget year with a deficit in October that was 33.8% bigger than a year ago as spending hit a record. The Treasury Department said Wednesday that the deficit last month totaled...

US deficit hits nearly $1 trillion. When will it matter?

Oct. 25, 2019 7:08 PM EDT

WASHINGTON (AP) — The Trump administration reported a river of red ink Friday. The federal deficit for the 2019 budget year surged 26% from 2018 to $984.4 billion — its highest point in seven years. The gap is widely expected to top $1 trillion in the current budget year and likely remain there for...

US federal budget deficit soars to $984 billion, highest level in 7 years

Oct. 25, 2019 2:00 PM EDT
WASHINGTON (AP) — US federal budget deficit soars to $984 billion, highest level in 7 years.

As teachers strike, Chicago mayor offers $838M deficit fix

Oct. 23, 2019 5:41 PM EDT

CHICAGO (AP) — Chicago Mayor Lori Lightfoot, who's still trying to settle a nearly week-old teacher's strike, proposed a combination of debt refinancing, tax and fee hikes and assistance from the state Legislature on Wednesday to close a massive $838 million budget deficit. As Lightfoot spoke, thousands of...

The Latest: Chicago classes canceled for 6th day amid strike

Oct. 23, 2019 5:41 PM EDT

CHICAGO (AP) — The Latest on Chicago's budget woes and ongoing teacher strike (all times local): 4:35 p.m. Chicago Public Schools have cancelled classes for a sixth day as a teachers' strike remains unresolved. The nation's third-largest school district has kept school buildings open since the Chicago...