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.

Tagged with: budget deficit

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

Tagged with: budget deficit University System of Maryland

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 ...

Tagged with: budget deficit income taxes

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 ...

Tagged with: budget deficit businesses commerce department consumers Economy gas prices Government great recession gross domestic product growth hiring investment job spending

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: ...

Tagged with: Barack Obama budget deficit Congress congressional budget office george w. bush tax cuts treasury department

ANNAPOLIS — Gov. Martin O’Malley said Wednesday he would prefer to raise the state’s sales tax instead of the one on gas to address the budget deficit and pay for road and highway repairs, but noted that revenue proposals are ...

Tagged with: Annapolis budget deficit democrat General Assembly increase Martin O'Malley maryland sales tax Taxes Thomas V. Mike Miller Jr.

Maryland’s lawmakers are back in Annapolis on Wednesday for the 430th legislative session. The General Assembly faces a host of major fiscal issues, including a $1.1 billion budget deficit and a push by powerful lawmakers and interest groups to raise more ...

Tagged with: Annapolis budget deficit gasoline tax house of delegates Martin O'Malley maryland Michael E. Busch offshore wind power senate speaker Thomas V. Mike Miller Jr.

ANNAPOLIS — Gov. Martin O’Malley isn’t ruling out tax proposals during October’s special session on legislative redistricting. O’Malley said Wednesday his administration has had several meetings on how the state will address a projected budget deficit of about $1 billion ...

Tagged with: Annapolis budget budget deficit Congress General Assembly legislative session Martin O'Malley Maryland Association of Counties Ocean City special session

WASHINGTON — The Senate emphatically passed emergency legislation Tuesday to avoid a first-ever government default, rushing the legislation to President Barack Obama for his signature just hours before the deadline. The vote was 74-26. Obama signed the bill little more than ...

Tagged with: budget budget deficit credit rating harry reid john boehner mitch mcconnell senate timothy geithner washington

WASHINGTON — The federal budget deficit is nearing the $1 trillion mark for a third straight year, putting pressure on Congress and the Obama administration to come up with a plan to rein in government spending. The Treasury Department says ...

Tagged with: Barack Obama budget budget deficit Congress government spending treasury department