The 2024-2025 report released this week had four recommendations on how to address the city’s considerable fiscal challenges.

The US government posted a $1.695 trillion budget deficit in fiscal 2023, a 23% jump from the prior year as revenues fell and outlays for Social Security, Medicare and record-high interest costs ...

The Treasury Department reported on Friday that the budget shortfall increased by $64 billion to $1.3 trillion in the first ...

The data shows that tariff revenues are starting to build into a significant revenue contributor ahead of an August 1 ...

The U.S. budget deficit surged past the $1 trillion mark in February, less than six months into fiscal year 2025. According to the Department of the Treasury, the federal government so far has ...

During fiscal year 2022, the US budget deficit was slashed in half, falling to under $1.4 trillion, amid a winding down of pandemic-related spending and a jump in revenue from the surging economic ...

The U.S. federal budget deficit is expected to nearly double this year, growing to $2 trillion as a result of higher interest rates and lower tax revenue.

The U.S. budget deficit surged to a record of $1.9 trillion for the first seven months of this budget year, bloated by the billions of dollars being spent in coronavirus relief packages. The ...

The U.S. federal deficit totaled $2.8 trillion during the 2021 fiscal year, marking the second-highest budgetary shortfall on record, but a slight improvement from the previous year as the economy ...

US Budget Deficit Hits $2.77 Trillion in 2021, 2nd Highest As a percentage of the overall economy, the 2021 deficit represents 12.4% of GDP, down from the 2020 deficit, which was 15% of GDP ...