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News Articles: federal budget

The U.S. Treasury ran a surplus in April, as tax payments jumped by 22% from a year ago. The federal government is still on track to run a deficit of more than $1.5 trillion this year.

Tax revenue jumps 22% in April, but U.S. deficit still looms large

The U.S. Treasury ran a surplus last month, thanks in part to the April 15th tax deadline. But the federal government is still expected to end the year more than $1.5 trillion in the red.

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By:
  • Scott Horsley
House Speaker Mike Johnson speaks during a news conference with Majority Leader Steve Scalise and Majority Whip Tom Emmer following a closed-door caucus meeting on March 20. Congressional leaders announced they reached a deal on a FY2024 spending package.

Congress unveils final spending package, as Friday midnight deadline looms

The text accounting for about three-quarters of all federal discretionary spending was released early Thursday. Now, lawmakers are racing against the clock to vote before a Friday midnight deadline.

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By:
  • Barbara Sprunt
The government shortfall for the fiscal year that just ended is far greater than was seen during the height of the Great Recession. The national debt now exceeds the size of the U.S. economy.

$3.1 Trillion: Pandemic Spending Drives The Federal Budget Deficit To A Record

The government shortfall for the fiscal year that just ended was more than triple that of 2019. The national debt of $21 trillion now exceeds the size of the U.S. economy.

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By:
  • Jim Zarroli