deficit and debt

Obama's troubling fiscal outlook

Washington Post Editorial Board

When is an improving fiscal situation not really an improving fiscal situation? When it’s the United States’ current one. That’s the lesson of the White House’s annual budget update, known as the Mid-Session Review, which was published Tuesday by the Office of Management and Budget (OMB). Data in the report show the federal government is on course to record a $455 billion budget deficit this year, which is $128 billion less than the Obama administration had projected six months ago. 

U.S. budget deficit widens in January

Jason Lange, Reuters

The U.S. budget deficit widened in January, fueled in part by higher spending on government health care services.The federal government ran $18 billion into the red during the month, outstripping analyst expectations for a $10 billion deficit.