The Congressional Budget Office raised its estimate of the projected federal budget deficit Wednesday and is now predicting that the deficit will reach $960 billion for the 2019 fiscal year, which ends on September 30, and reach $1 trillion for the 2020 fiscal year.
The monthly U.S. trade deficit fell by nearly 15% in January, thanks largely to a shift with China as the two countries continue to negotiate a new trade agreement.
The US logged its biggest monthly fiscal gap ever last month.
The federal government is running up its credit bill again.
The owners of MoviePass need another $1.2 billion.
The recent Republican tax cuts and the bipartisan agreement to raise federal spending have done a number on already high budget deficits. But the outlook could be even worse than we thought.
Federal Reserve Chairwoman Janet Yellen raised concerns Wednesday that deficits, which are expected to be driven higher by the tax plan now in Congress, may give policy makers little room to respond to a future recession.
Republicans have made a very big deal pitching their tax reform plan as an elixir for economic growth.
The Senate GOP's tax plan would increase the deficit by $1.4 trillion over the next 10 years, the Congressional Budget Office estimates.
Wisconsin's state budget would be $824 million short just to continue the current level of services.
A new study estimates changes Republican lawmakers made to Gov. Scott Walker's executive budget will result in a half-billion dollar deficit going into the next two-year spending plan.
Wisconsin transportation officials have proposed delaying road work, reducing funding for rail service and cutting aid for local governments' road projects to balance a looming deficit in the state's transportation fund.
New estimates show Wisconsin's transportation fund is headed for a $63.5 million deficit by mid-2015.
Major street construction and other transportation projects are a large portion of Madison's next city budget.
Major street construction and other transportation projects are a large portion of Madison's next city budget.
