US deficit

US posts $98 billion budget deficit in July

The United States ran a budget deficit in July, although government revenues increased from a year earlier due to tax hikes and a strengthening economy, a report from the Treasury showed on Monday.

Aug 13, 2013, 17:26 PM IST

Obama’s budget plan to cut deficit by $1 trillion: CBO

The Obama budget deficit would hit a low point of USD 399 billion, or 2.0 percent of gross domestic product, in 2017.

May 18, 2013, 10:57 AM IST

Obama urges smart government spending cuts

The uncertainty caused by the government spending cuts is already having an effect on US economy, Obama said in his remarks Monday to the National Governors Association at the White House, reported Xinhua.

Feb 26, 2013, 13:32 PM IST

Obama calls for balanced mix of spending cuts and tax reforms

The US President Barack Obama on Saturday asked the Congress to act to avoid a series of harmful and automatic spending cuts, called sequester, by finding a balanced mix of cuts and tax reforms.

Feb 09, 2013, 16:59 PM IST

US budget deficit crosses $1 trillion-mark for 4th straight year

The US budget deficit has crossed USD 1 trillion-mark for the fourth year in a row but a modest improvement in economic growth helped narrow the gap by USD 207 billion compared with last year.

Oct 13, 2012, 10:21 AM IST

US federal government has $69.6 billion deficit

The US federal government registered a budget deficit of about USD 69.6 billion in July, bringing the total budget gap for the first 10 months of this fiscal year near the USD 1 trillion mark, the US Treasury Department reported.

Aug 11, 2012, 13:54 PM IST

Bernanke to testify on US economy and deficit

US Federal Reserve Chairman Ben Bernanke will likely tell members of Congress on Thursday that the slowly improving economy may need more help from the Fed and that cutting the deficit too quickly could backfire.

Feb 03, 2012, 00:00 AM IST

Lawmakers abandon deficit-cutting effort

Lawmakers abandoned their high-profile effort to rein in the country's ballooning debt on Monday in a sign that Washington likely will not be able to resolve a dispute over taxes and spending until 2013.

Nov 22, 2011, 08:53 AM IST

US rating likely to be downgraded again: Merrill

The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.

Oct 23, 2011, 23:12 PM IST

US crude falls to 5-wk low on US deficit concern

US crude fell to near a five-week low on Wednesday after ratings agency Moody's assigned a negative outlook to the United States, stoking concern that demand may fall as the world's top oil user faces longer-term fiscal and economic challenges.

Aug 03, 2011, 10:13 AM IST

Moody's expects to affirm US rating, negative outlook

The United States will likely keep its top-notch credit rating from Moody's for now, despite the "limited magnitude" of the deficit reduction plans being discussed in Washington, the ratings agency said on Friday.

Jul 30, 2011, 08:59 AM IST

S&P threatens downgrade of US financial companies

Standard & Poor's on Friday raised the pressure on debt negotiators in Washington, saying it could downgrade insurers, securities clearinghouses, mortgage agencies and a laundry list of other firms without a deal soon to lift the US debt ceiling and cut the deficit.

Jul 16, 2011, 10:29 AM IST

Obama to raise 10-year deficit to $9 trillion

The Obama administration will raise its 10-year budget deficit projection to approximately USD 9 trillion from USD 7.108 trillion in a report next week, a senior administration official a news agency on Friday.

Aug 22, 2009, 11:52 AM IST

US deficit estimate to be trimmed to $1.58 tr

The Obama administration will trim its budget deficit forecast for fiscal 2009 to USD 1.58 trillion, after scrapping money earmarked for bailing out more banks, officials said on Wednesday.

Aug 20, 2009, 09:10 AM IST