Budget Deficit Soars

“The U.S. government deficit spiked 12 percent to $342 billion during the first two months of fiscal year 2020, according to data from the Congressional Budget Office,” Fox Business reports. “The CBO says the U.S. budget deficit will average $1.2 trillion a year from 2020 to 2029, amounting to 4.4 percent to 4.8 percent of gross domestic product.”

BING NEWS:
  • Burlington’s budget deficit more than originally estimated
    Mayor Emma Mulvaney-Stanak and Burlington department heads discussed the city’s budget deficit on Thursday. The deficit was bigger than originally thought when the last estimate was released in ...
    04/25/2024 - 11:59 am | View Link
  • Burlington budget deficit balloons to $13M
    Burlington’s multi-million dollar budget deficit is higher than original projections. The Weinberger administration had estimated a $9 million shortfall, but it actually comes to more like $13 million ...
    04/25/2024 - 11:07 am | View Link
  • BTV Mayor Emma Mulvaney-Stanak addresses $13.1 million FY25 budget deficit
    The mayor emphasized a commitment to transparency with City staff, union leaders, City Councilors, and Burlington residents as FY25 budget planning continues. “One of my commitments to the residents ...
    04/25/2024 - 10:57 am | View Link
  • Socorro ISD weighs wage cuts, skips raises to balance $33M deficit
    The Socorro Independent School District began its discussions on how to reduce the district's $33 million deficit.
    04/25/2024 - 5:54 am | View Link
  • U.S. trade deficit in goods widens in March to highest level in almost a year
    The U.S. trade deficit in goods widened 1.7% to $91.8 billion in March, according to the Commerce Department’s advanced estimate released Thursday.
    04/25/2024 - 2:08 am | View Link
  • More
BING SEARCH:
  • Budget Deficit: Definition, Causes, Effects
    A budget deficit occurs when spending exceeds income. The term applies to governments, although individuals, companies, and other organizations can run deficits. A deficit must be paid. If it isn't, then it creates debt. Each year's deficit adds to the debt. As the debt grows, it increases the deficit in two ways. First, the must be paid each year.
    04/23/2024 - 8:23 am | View Link
  • Why did the budget deficit grow so much in FY 2023? And what does this ...
    The federal budget deficit—the difference between government spending and revenues—increased from 5.4% of GDP in FY 2022 to 6.3% of GDP in FY 2023. Adjusting for...
    04/23/2024 - 7:11 am | View Link
  • Budget Deficit: Causes, Effects, and Prevention Strategies
    What Is a Budget Deficit? A budget deficit occurs when government expenses exceed revenue. Many people use it as an indicator of the financial health of a country. It is a term more...
    04/23/2024 - 3:15 am | View Link
  • The federal deficit surges, nearly tripling in the last nine months
    The Treasury Department said Thursday that the budget gap from October through June was nearly $1.4 trillion — a 170% increase from the same period a year earlier. The federal government ...
    04/22/2024 - 7:22 pm | View Link
  • The Budget and Economic Outlook: 2021 to 2031
    CBO projects a federal budget deficit of $2.3 trillion in 2021, nearly $900 billion less than the shortfall recorded in 2020. At 10.3 percent of gross domestic product (GDP), the deficit in 2021 would be the second largest since 1945, exceeded only by the 14.9 percent shortfall recorded last year.
    04/22/2024 - 2:43 pm | View Link
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