Learn why state governments can't run fiscal deficits like the federal government, focusing on balanced-budget laws and their economic impact.

In a new projection from the nonpartisan Congressional Budget Office, the federal budget deficit - the gap between government revenue vs. spending - will be $1.9 trillion for the 2024 fiscal year. The ...

The U.S. federal budget deficit hit $1.8 trillion in the fiscal year ending on Sept. 30, the Congressional Budget Office (CBO) reported Wednesday. Moreover, President Donald Trump’s sweeping tariffs ...

President Donald Trump returned to the White House with a promise to slash spending by trillions of dollars and balance the federal budget. But, as the first fiscal year of his second term came to a ...

SPRINGFIELD (CNI) - Illinois is on track to run a more than $200 million deficit just three months into the current fiscal year, according to the Governor’s Office of Management and Budget. If nothing ...

Discover key arguments for and against a balanced federal budget, exploring potential impacts on national debt, taxpayers, and future economic stability.

SACRAMENTO, Calif. — California lawmakers return to the Capitol on Monday to begin a new legislative session shaped by an ...

By Ben Aris in Berlin Russia's federal budget will remain in deficit through at least 2042, according to a long-term forecast from the Ministry of Economic Development, reviewed by Vedomosti on ...

The federal government’s mid-year budget update shows a modest improvement in the deficit forecast in 2025–26, but much of this comes from a larger-than-forecast tax take. The update, known as the Mid ...

A combination of savings and higher tax takes have delivered an $8.4 billion improvement to the federal budget's bottom line, the mid-year update is expected to show when it is released on Wednesday.

Nigeria is testing the limits on several fronts with its federal budget for 2026 with a spending plan in excess of N58trn, or ...

Canada recorded a C$18.37 billion (US$13.40 billion) budget deficit for the first seven months of the 2025/26 fiscal year as ...