Budget Deficit | featured news

The Senate Finance Committee's healthcare reform bill would cost an estimated $829 billion over 10 years and reduce the budget deficit by $81 billion, congressional budget analysts said on Wednesday.

Faced with a total budget gap of $215 billion for fiscal years 2009 and 2010, most U.S. states looked to their prison and university budgets for relief, according to a report released on Thursday.

The Obama administration next week will project a federal budget deficit for fiscal 2009 of about $1.58 trillion, slightly less than previously predicted, a senior administration official said.

The U.S. economy is no longer on the edge of collapse, but Americans must reduce the budget deficit, Treasury Secretary Timothy Geithner said Sunday.

Gov. Arnold Schwarzenegger and the state's top legislators who are trying to close out a budget deal have canceled their planned meeting tonight because of an apparent scheduling snafu and will instead aim to meet...

Washington Post-ABC News Poll | Public view of president slips on key issues, such as health-care reform, economy and federal budget deficit.

California Governor Arnold Schwarzenegger and lawmakers failed on Wednesday night to agree to balance the state's budget by closing a $26.3 billion deficit, but officials said talks would continue.

President Obama, Governor Schwarzenegger and other esteemed politicos may routinely distance themselves from the potential windfall that would accompany legalizing and taxing cannabis, but amid California's latest and deepest financial crisis the state Board of Equalization has tagged a whopping revenue figure to such a notion.

Bank of America and other big institutions plan to enforce a cutoff, making it harder to cash vouchers. To protect IOU holders from third-party speculators, the SEC defines the vouchers as securities.

California's lawmakers failed to agree on a balanced budget by the start of its new fiscal year on Wednesday morning, clearing the way to suspend payments owed to the state's vendors and local agencies, who instead will get "IOU" notes promising payment.