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Budget deficit hits record $438 billion, CBO says

Oct. 7, 2008
The federal budget deficit hit a new record in the just-completed 2008 budget year under the latest estimates from the Congressional Budget Office. The record $438 billion shortfall for the budget year that ended last week is up from $162 billion posted last...
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Deficit spending worries bailout critics

WASHINGTON, Nov. 30 (UPI) -- Unprecedented deficit spending being used to battle the U.S. financial downturn could be planting the seeds of the next crisis, critics say.
Balanced budget not Obama's first priority

Balanced budget not Obama's first priority

WASHINGTON, Nov. 26 (UPI) -- Balancing the federal budget during Barack Obama's first term would be a mistake, an economic adviser to the president-elect said.

Obama could face $1 trillion deficit

WASHINGTON, Nov. 23 (UPI) -- U.S. President-elect Barack Obama faces record deficits in the U.S. budget that could soar to more than $1 trillion, analysts say.

The U.S. bailout includes borrowing costs

WASHINGTON, Oct. 20 (UPI) -- The U.S. Congressional Budget Office estimates the federal deficit could reach $700 billion in the current fiscal year, which began this month.

Some experts say deficit worries can wait

WASHINGTON, Oct. 17 (UPI) -- Worries about the federal deficit can wait until the U.S. economy perks up again, several economic analysts said.

U.S. deficit could hit $1 trillion

NEW YORK, Oct. 15 (UPI) -- The U.S. government could rack up a $1 trillion budget deficit this fiscal year, depending on how the bank bailout program is accounted for, analysts say.

U.S. deficit bigger than expected

WASHINGTON, Oct. 15 (UPI) -- The U.S. government racked up a record $455 billion deficit in fiscal 2008, an even larger shortfall than expected, officials revealed Tuesday.

Candidates' basic economic ideas unchanged

WASHINGTON, Sept. 23 (UPI) -- Neither major-party presidential candidate altered his economic platform despite an economic landscape with a potential $1 trillion budget deficit next year.

Next president gets $500 billion deficit

WASHINGTON, Sept. 10 (UPI) -- If the next U.S. president decides to keep President George Bush's tax cuts in place, the federal budget deficit will swell, officials say.

Federal deficit swells to $407 billion

WASHINGTON, Sept. 9 (UPI) -- Congressional budget reports indicate the U.S. federal deficit has grown to $407 billion.

Japan seeks budget for stimulus package

TOKYO, Aug. 22 (UPI) -- The Japanese economic stimulus package will be funded with a supplementary budget instead through deficit-covering bonds, it was announced Friday.

Federal deficit looks to swell 20 percent

WASHINGTON, July 28 (UPI) -- The gap between the U.S. government's spending and income may reach a record $482 billion in 2009, the Office of Management and Budget projected Monday.

Schwarzenegger to invoke wage cuts

SACRAMENTO, July 23 (UPI) -- The pay of 200,000 California workers may be cut to the federal minimum wage to help balance the state budget, the San Francisco Chronicle reported Wednesday.

U.S. deficit reaches $268 billion

WASHINGTON, July 17 (UPI) -- The U.S. government's deficit has reached an estimated $268 billion over the first nine months of fiscal 2008, the Congressional Budget Office says.

Budget resolution squeaks through House

WASHINGTON, June 5 (UPI) -- The U.S. House, 214 to 210, Thursday approved a $3 trillion domestic and defense budget blueprint that includes discretionary funds for 12 appropriations bills.
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Vietnam Veterans Memorial Visited in Washington
View Caption
Veterans etch the names of their friends inscribed on the Vietnam Veterans Memorial on the 50th anniversary of the Vietnam War on May 26, 2012 in Washington, DC. More than 58,000 names of the servicemen who were killed or missing in the war are engraved on The Wall. UPI/Pat Benic