Discover how the U.S. federal budget works, its role in government spending, and its historical evolution, including details ...

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom’s office said the state faces a $2.9 billion budget deficit this year, ...

Fiscal deficit is one of the most important numbers in the Union Budget, yet one of the most misunderstood. In this episode of Budget Basics, we explain what fiscal deficit really means, ...

The budget hole calls for sustainable revenue increases or serious spending cuts, the Legislature’s analysts say. But either would be unpopular with top Democrats.

The federal budget deficit totaled $1.7 trillion in Calendar Year (CY) 2025, according to estimates from the Congressional Budget Office (CBO). The deficit in CY 2025 is $369 billion less than the ...

In his proposed budget, California Gov. Gavin Newsom is predicting a shortfall of $2.9 billion. That's much less than the $18 ...

California's deficit is projected to reach nearly $18 billion next year, as spending is expected to offset, if not eclipse, strong tax revenues.

The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data ...