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Budget deficit

What will a Claudia Sheinbaum presidency mean for Mexico's economy?

by David Brancaccio , Ariana Rosas and Alex Schroeder
Jun 3, 2024
President-elect Claudia Sheinbaum must grapple with a hefty budget deficit, brought about in part by spending on infrastructure and social programs.
President-elect Claudia Sheinbaum will become Mexico's first female president when she takes office on Oct. 1.
Carl De Souza/AFP via Getty Images
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How California plans to solve its large budget deficit

by Matt Levin
Jan 12, 2024
It's not the only state with a problem.
Earlier this week, California Governor Gavin Newsom released a plan to offset a nearly $38 billion budget deficit.
Justin Sullivan/Getty Images
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National Debt

Federal Reserve losses contribute to federal deficit

by Sabri Ben-Achour
Oct 24, 2023
When the central bank makes money, it hands it to the Treasury. But now it's losing money as it pays interest to banks on their deposits.
The Fed is, among other things, a bank for banks, and it pays interest to those banks. Those interest rates have gone up. Above, the Eccles building, which houses Fed governors' offices.
Kevin Dietsch/Getty Images
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National Debt

Why the U.S. budget deficit grew so much in the last year

by Sabri Ben-Achour and Alex Schroeder
Oct 23, 2023
No surprise: Inflation, higher interest rates and the pandemic all play a role.
Chip Somodevilla/Getty Images
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What would it take to balance the federal budget?

by Kai Ryssdal and Sarah Leeson
Feb 8, 2023
You need the courage to make cuts, the wisdom to negotiate and luck, says Linda Bilmes, who worked in the Clinton administration.
In the last half-century, only two presidents have balanced the federal budget: Lyndon Johnson and Bill Clinton, above with Vice President Al Gore.
Paul J. Richards/AFP via Getty Images
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Biden faces economic obstacles beyond the pandemic's burdens

by David Brancaccio , Erika Soderstrom and Daniel Shin
Dec 29, 2020
The list includes dwindling trust funds for Social Security and Medicare and potential bubbles in the housing and stock markets.
Biden will confront "headwinds unlike those that have ever been faced by any modern president," says Eugene Steuerle of the Urban-Brookings Tax Policy Center.
Mark Makela/Getty Images
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Congress isn't just wrestling with a coronavirus relief package — it has a budget to pass, too

by Nancy Marshall-Genzer
Aug 5, 2020
Congress has to fund the government for the next fiscal year, which begins Oct. 1 — and it's slow going.
House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell after the funeral of Rep. John Lewis in Washington, D.C.
Drew Angerer/Getty Images
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Kai Explains

Breaking down the national debt and budget deficit

by Daisy Palacios and Kai Ryssdal
Oct 1, 2019
It's a new fiscal year for America. Let's look at our debt.
The National Debt Clock, a billboard-sized digital display showing the increasing U.S. debt, in New York City in 2011.
Stan Honda/AFP/Getty Images
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The budget deficit last topped $1 trillion in 2012, a very different time

by Scott Tong
Sep 13, 2019
Back then, the economy was struggling its way out of recession. Now? Not so much.
The U.S. Treasury Department announced Thursday the government deficit has topped $1 trillion for the first time in seven years. Above, the Treasury Department building in Washington, D.C.
Chip Somodevilla/Getty Images
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We're heading toward trillion-dollar deficits. Here are 5 things you need to know.

by Kimberly Adams
Apr 10, 2018
The Congressional Budget Office says deficits will nearly equal GDP by 2028. That can't be good, right?
The early morning sun strikes the U.S. Capitol in Washington, D.C. 
Photo by Win McNamee/Getty Images
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