The budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020.

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The federal government ran the second-highest monthly surplus on record this April as tax revenues were pushed higher by a change in the deadline for corporate tax payments. In its monthly budget report, the Treasury Department said Wednesday that the ...

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The federal government ran a bigger deficit in January, pushing the imbalance so far this budget year up 6.2 percent from the same period a year ago. The Treasury Department said Wednesday the deficit for January stood at $17.5 billion ...

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The federal deficit for the first three months of the budget year is up slightly from the same period a year ago, reflecting the absence of a special payment from mortgage company Freddie Mac that helped narrow the gap in ...

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(AP) The federal government started the new budget year with a higher deficit in October, but the increase reflected quirks in the calendar rather than a deterioration in the government’s budget outlook. The Treasury Department says the deficit last month ...

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WASHINGTON — President Barack Obama proposed tax increases on wealthy individuals and some corporations Monday, setting the stage for an ideological battle that won’t be resolved until after the November election — if then. Obama’s proposed tax hikes put him ...

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WASHINGTON — The federal deficit was lower in the first quarter of the 2012 budget year than the same period last year. Yet, the imbalance remains high by historical standards and should keep lawmakers debating tax increases and spending cuts ...

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WASHINGTON — President Barack Obama will announce new steps Monday to reduce government waste, arguing that inefficiency, fraud and abuse are especially troubling during tough economic times. Obama was to sign an executive order creating the Campaign to Cut Government ...

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WASHINGTON — Republicans on Friday muscled a bill toward House passage that would kill federal loans to struggling homeowners as the GOP and Democrats waged their latest fight over how to balance frugality and compassion at a time of massive ...

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WASHINGTON — Congress’ budget analysts are estimating that this year’s federal deficit will exceed $1.3 trillion, slightly below last year’s total but still a huge ocean of red ink. The nonpartisan Congressional Budget Office said the enormous shortfall is a ...

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