Tag: budget deficit
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Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government
Even with the new spending restraints in the debt limit deal that cut borrowing by $1.5 trillion, the U.S. government’s deficits are still on course to keep climbing to record levels over the next few decades.
$24 billion projected budget deficit may test California’s resolve to grow safety net amid recession
California faces a projected deficit next year even if the U.S. avoids a recession. Despite the expected shortfall, policymakers say they’ll maintain spending on social programs though advocates are calling for more.
