COVID-19 relief pushes U.S. budget deficit to a record $3.1 trillion
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.
U.S. government sees record monthly deficit of $737.9 billion
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.
U.S. budget deficit totals $74.9 billion in June
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.
Everything you need to know about the federal debt limit
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.
The Senate Finance Committee's health care reform plan would cost $829 billion over 10 years, but would meet President Barack Obama's goal of reducing the federal budget deficit by 2019, according to a cost estimate released Wednesday.
President Barack Obama cast a new focus on the budget deficit Monday, announcing a goal of halving the $1.3 trillion gap by the end of his first term. Analysts weigh the goal.
President Barack Obama's $819 billion stimulus proposal now heads to the Senate with little GOP support. Economists examine whether the proposed measure can succeed at its goals.
President Bush said larger than expected tax revenue has cut the federal deficit, validating his tax cuts. Former Labor Secretary Robert Reich and Wall Street Journal writer Stephen Moore debate what the new numbers mean for the health of the…
The federal government is heading toward a record $480 billion deficit in 2004, according to a report released Tuesday by the Congressional Budget Office.
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