WASHINGTON — The federal budget deficit is projected to hit a record $3.3 trillion as huge government expeditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said Wednesday. That’s more than triple the 2019...
$32 Million Deficit: Fresno’s Doom and Gloom Budget Projection
The coronavirus pandemic will cause a $32 million deficit for the next city of Fresno budget. "It is enormous. It will be a real challenge for the city to deal with that," assistant city manager Jane Sumpter told the Fresno City Council on Thursday. Also in Politics 101: Fresno City...
Budget Deficit to Break $1 Trillion Despite Strong Economy
WASHINGTON — An annual congressional report says the U.S. budget deficit is likely to burst through the symbolic $1 trillion barrier this year despite a healthy economy. Tuesday's Congressional Budget Office report follows a burst of new spending last year and the repeal in December of several taxes used to...