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budget deficit

Some top Democratic lawmakers are questioning the Gov. Wes Moore's approach to governing and are concerned about administration members’ lack of experience working in Maryland state government. (AP Photo/Susan Walsh)
Nov 26, 2023

Wes Moore’s second session will test his public messaging, political capital

Maryland Gov. Wes Moore’s second legislative session will be a test of his team’s public messaging strategy and the political capital he’s accrued in his first year.

Nov 7, 2023

Democratic lawmakers decline to rule out tax hikes for next year’s budget

Maryland lawmakers didn’t rule out the possibility of raising taxes while balancing the state budget amid projections of a structural deficit.

Maryland Senate President Bill Ferguson, D-Baltimore, said he feels “very good” with the state’s fiscal position and isn’t concerned about structural issues. (AP Photo/Julio Cortez, File)
Oct 12, 2023

With deficit looming, Md. Senate president ‘less stressed’ than Moore about budget

Two of Maryland’s top Democrats don’t share the same level of concern about the state’s budget cycle with looming projections of a structural deficit.

Maryland Gov. Wes Moore and Comptroller Brooke Lierman listen during a panel discussion with business owners in February. (AP Photo/Brian Witte)
Sep 18, 2023

Maryland’s $555M surplus reflects waning impact of COVID relief funds

Maryland emerged from the last fiscal year with a $555 million surplus, a fraction of its multibillion-dollar surpluses from the previous two fiscal years, the state comptroller said Monday.

“We've been very clear that we can focus on pathways to work, wages and wealth for all Marylanders. We can make sure we’re investing in industries of the now and industries of the future and make Maryland a real leader in the field,” Gov. Wes Moore said. “And, by the way, do it and not raise taxes on a single Marylander.” (AP Photo/Susan Walsh)
Sep 10, 2023

Wes Moore talks about Red Line and taxes, filling vacancies, and Orioles lease

Gov. Wes Moore pushed back on concerns about a Red Line bus network and said his administration has shown it can promote growth without raising taxes.

Former Budget Secretary David Brinkley said that, while lawmakers may not propose a change to the Blueprint during the legislative session that begins in January, he expects them to in the coming years. (File photo)
Sep 4, 2023

As Moore avoids specifics on deficit in state budget, conservatives warn of tax hikes

Gov. Wes Moore and members of his cabinet have shied from specifying how spending may change as the state approaches a projected structural deficit after years of surplus.

Jul 17, 2023

Ex-budget secretary expects Maryland’s structural deficit to grow

After starting the year with a large surplus, Maryland is projected to have a nine-figure structural deficit entering the next fiscal year.

Sep 11, 2020

US budget deficit hits record $3 trillion through 11 months

The U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday.

Dec 4, 2014

Some state universities freeze spending, hiring

The majority of Maryland’s public universities are implementing spending freezes, including restrictions on hiring and facility upgrades.

Sep 13, 2012

Budget deficit tops $1 trillion 4th year in row

WASHINGTON — The U.S. federal budget deficit increased by $191 billion in August and has topped $1 trillion for the fourth straight year. The deficit for the first 11 months of the 2012 budget year totaled $1.16 trillion, the Treasury Department said Thursday. That’s 6 percent less than the $1.23 trillion in the corresponding period […]

Apr 27, 2012

U.S. growth slowed to 2.2 percent in first quarter

WASHINGTON — The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year. The result suggests that the economy will continue to expand, slowly but steadily. The Commerce Department estimated Friday […]

Feb 10, 2012

Budget deficit drops to $27 billion in January

WASHINGTON — The federal budget deficit fell sharply in January compared to a year earlier, as an improving economy lifts income tax revenue. The deficit is on track to shrink this year, but the red ink will still run deep: it is forecast to top $1 trillion for the fourth year in a row. That’s […]

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