California controller says disappointing tax receipts will push state into bigger deficitOctober 9th, 2009 California controller warns of bigger deficitSACRAMENTO, Calif. — California's state controller is warning that disappointing tax receipts will push the state into a bigger budget deficit than expected.
CBO: Budget deficit hit record $1.4B in 2009 thanks to recession-fed drop in revenue, bailoutsOctober 7th, 2009 CBO: Budget deficit hit record $1.4B in 2009WASHINGTON — Congressional analysts say the federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week. The unprecedented flood of red ink flows from several factors, including a big drop in tax revenues due to the recession, $245 billion in emergency spending on the Wall Street bailout and the takeover of mortgage giants Fannie Mae and Freddie Mac.
NY comptroller blames mismanagement for East Hampton budget woesOctober 1st, 2009 NY audit finds financial woes in East HamptonEAST HAMPTON, N.Y. — A New York state audit of finances in a town filled with millionaires blames fiscal mismanagement for a deficit that required $15 million in bonding to cover budget shortfalls.
White House, Congress both predict $1.6 trillion deficit, differ on longer-term shortfallAugust 25th, 2009 Congress projects smaller deficit than White HouseWASHINGTON — Congressional budget analysts project a cumulative $7 trillion deficit from 2010-2019, a figure roughly $2 trillion less than the one projected by the White House budget office. The nonpartisan Congressional Budget Office, in a report that came out on the same day as the White House midyear budget review, said the deficit this year will total $1.6 trillion and that putting the nation on a sustainable fiscal course will require a mix of lower spending and higher tax revenues than the amounts now projected.
Putin: Russia to run deficit of 7.5 percent of GDP next year, says most country can affordJuly 30th, 2009 Russia to run 7.5 pct deficit in 2010MOSCOW — Russia will next year run a budget deficit equivalent to 7.5 percent of annual economic output, the highest deficit the country can afford without hurting economic stability, Prime Minister Vladimir Putin said Thursday. Russia is facing its biggest economic test in a decade and is this year running a budget deficit of 9.4 percent of gross domestic product — its first deficit in a decade.
Putin: Russia to run 7.5 percent budget deficit next year _ the most it can affordJuly 30th, 2009 Russia to run 7.5 pct budget deficit next yearMOSCOW — Russia will next year run a budget deficit equivalent to 7.5 percent of annual economic output, the highest deficit the country can afford, Prime Minister Vladimir Putin said Thursday. Russia is facing its biggest economic test in a decade and is this year running a budget deficit of 9.4 percent of gross domestic product — its first deficit in a decade.
Legislative leaders, Gov. Schwarzenegger set to discuss final details on California's budgetJuly 19th, 2009 Calif. lawmakers, Schwarzenegger to discuss budgetSACRAMENTO, Calif. — California officials are set for talks they hope will iron out the final details to closing the state's $26.3 billion budget deficit.
Compromise over California budget deficit remains elusive with IOUs just days awayJune 29th, 2009 Calif. Senate OKs budget headed for certain vetoSACRAMENTO, Calif. — The California Senate has approved a Democratic budget that faces a certain veto from Republican Gov.
Calif. lawmakers debate budget fix as state controller warns of IOUs as early as next weekJune 24th, 2009 Calif. Legislature begins debate over budget fixSACRAMENTO, Calif. — Lawmakers have begun a sharp debate about a Democratic plan to close California's projected $24 billion deficit but a quick resolution seems unlikely.
Calif. Legislature to vote on Democratic budget plan, even as governor warns he won't sign itJune 23rd, 2009 Calif. lawmakers to vote on Democratic budget planSACRAMENTO, Calif. — Lawmakers scheduled a Wednesday vote on a Democratic proposal to close part of California's $24.3 billion budget deficit, but the plan appears doomed to fail.
Democrats want higher taxes, fewer cuts to close California's $24.3 billion deficitJune 17th, 2009 Calif. Dems want higher taxes, fewer cuts than GOPSACRAMENTO, Calif. — An emerging Democratic plan to address part of California's $24.3 billion deficit appears unlikely to win support from the governor and GOP lawmakers, raising the prospect of another prolonged deadlock that could jeopardize the state's finances.
Schwarzenegger acknowledges poor economy makes this a bad time to sell California's assetsJune 13th, 2009 Schwarzenegger: A bad time to sell state assetsSACRAMENTO, Calif. — Gov. Arnold Schwarzenegger says it's the wrong time to consider putting California landmarks up for sale — less than a month after he proposed doing just that.
Budget deficit sets May record of $189.7 billion; total for year close to $1 trillionJune 10th, 2009 Budget deficit hits record for May of $189.7BWASHINGTON — The federal budget deficit soared to a record for May of $189.7 billion, pushing the tide of red ink close to $1 trillion with four months left in the budget year. The rising deficit reflects increased government spending due to the recession, and billions of dollars spent on bailouts for banks and other troubled companies.
Schwarzenegger says next year's budget deficit is $15B; will climb if voters reject measuresMay 12th, 2009 Schwarzenegger: Next year's deficit climbs to $15BSACRAMENTO, Calif. — Gov. Arnold Schwarzenegger is warning that California faces a $15.4 billion budget deficit in the coming fiscal year, nearly double the previous estimate.
Haryana becomes revenue deficit state again after budgetFebruary 12th, 2009 CHANDIGARH - After having been a revenue surplus state for nearly four years, Haryana has once again become a revenue deficit state, after the new budget for 2009-10 was presented to the state assembly Friday. Finance Minister Birender Singh said the revenue deficit in 2009-10 will be Rs.33.84 billion.
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