Budget Deficit | featured news

Gov. Arnold Schwarzenegger of California called for eliminating California’s welfare-to-work program, one of the deep cuts he proposed to close a $19 billion budget deficit in the coming fiscal year.

Spain will cut state employees' wages and slash investment spending, sparking immediate union anger with a bid to reassure markets that it can get its budget deficit under control and detain the spread of the European debt ...

Government economic forecasters say President Obama's healthcare overhaul will increase the nation's healthcare tab instead of bringing costs down. The report by economic experts at the Department of Health and Human Services, released late Thursday, says the healthcare remake will achieve Obama's aim of expanding coverage.

A growing number of school districts facing budget cuts are looking to advertising on their websites as a new revenue source.

Spurred by budget crises, California and Michigan together reduced their prison populations by more than 7,500 last year, contributing to what a new report says is the first nationwide decline in the number of state inmates since 1972.

Congressional Budget Office predicts long-term deficits vastly exceeding White House estimates.

State officials are trying to maneuver between saving money through early-release programs and maintaining the public’s sense of safety.

Greece's cabinet approved a sweeping new austerity program on Wednesday, the third in as many months, intended to rein in a bulging budget deficit and secure European financial support.

On the recession's front lines, governors are struggling to chart the road ahead for states staggered by unrelenting joblessness and cut-to-the-bone budgets even as Washington reports signs of economic growth.

"The worst probably is yet to come," warned Gov. Jim Douglas, R-Vt., chairman of the National Governors Association, at the group's meeting Saturday. He called the situation "fairly poor" in most states, adding that it "doesn't look too good."

The proposal by state Sen. Chris Buttars would chip away at Utah's $700-million shortfall. He's since offered a toned-down version: Just make senior year optional. At Utah's West Jordan High School, the halls have swirled lately with debate over the merits of 12th grade...