Politics Jun 18 Congressional Budget Office raises federal budget deficit projection by $400 billion By Fatima Hussein, Josh Boak, Associated Press
Nation Oct 21 Watch 1:21 News Wrap: U.S. budget deficit rises to $1.7 trillion in 2023 fiscal year In our news wrap Saturday, new numbers from the U.S. Treasury Department showed the nation’s deficit has increased nearly 25 percent to $1.7 trillion in the last fiscal year, and at least four people have died in the torrential storm…
Politics May 23 Watch 6:08 Economist Mark Zandi on the potential impacts of the U.S. defaulting on its debt The impact of the U.S. defaulting on its debt would be felt by many Americans. It could include suspension of Social Security checks or a loss of food stamp benefits, to name just a few. Many economists argue it would… By William Brangham, Shoshana Dubnow
Economy Jul 01 CBO projects federal deficit will hit $3 trillion this year In an updated forecast Thursday, the CBO said the deficit for the current 2021 budget year, which ends Sept. 30, will be the second-largest in history, coming in shy of last year's record shortfall of $3.13 trillion. By Martin Crutsinger, Associated Press
Economy May 27 Biden budget to run $1.8 trillion deficit to finance spending plans The whopping deficit projections are being driven by Biden's costly plans for infrastructure and social spending, along with major new investments in domestic Cabinet agencies. By Andrew Taylor, Associated Press
Oct 16 U.S. budget deficit hits all-time high of $3.1 trillion By Martin Crutsinger, Associated Press The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic cut revenues and sent spending soaring. Continue reading
Oct 08 COVID-19 relief pushes U.S. budget deficit to a record $3.1 trillion By Andrew Taylor, Associated Press The massive figures were expected but still stunning, more than double the previous deficit record of $1.4 trillion that was registered during former President Barack Obama's first year in office. Continue reading
May 12 U.S. government sees record monthly deficit of $737.9 billion By Martin Crutsinger, Associated Press The sea of red ink is being created by a drop in revenue and a massive increase in spending to fund efforts to deal with the coronavirus pandemic. Continue reading
Jul 12 U.S. budget deficit totals $74.9 billion in June By Martin Crutsinger, Associated Press WASHINGTON — The federal government recorded a $74.9 billion deficit in June, a month when the government often runs a surplus, as corporate taxes dropped sharply compared to a year ago. Continue reading
Oct 26 Everything you need to know about the federal debt limit By Andrew Taylor, Associated Press With one week to go, Congress must act fast and come up with a way to raise the federal borrowing limit or face an unprecedented government default. Continue reading