Government budget deficits

FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)
May 28, 2020 - 5:58 pm
WASHINGTON (AP) — The White House took the unusual step on Thursday of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was...
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A general view of the Philippe-Chatrier tennis court with its new retractable roof during a media tour at Roland Garros stadium in Paris, Wednesday, May 27, 2020. The French open will moving to September from the end of May because of the outbreak of the COVID-19 disease. (AP Photo/Michel Euler)
May 27, 2020 - 5:43 pm
The Latest on the effects of the coronavirus outbreak on sports around the world: ___ The athletic department at the University of Kansas has told donors it will make across-the-board pay cuts and furloughs as it faces a budget shortfall of up to 20 percent, even if full football and basketball...
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Emma Hamlet prepares orders received online to be picked up at the Long Beach Surf Shop store her family owns, Wednesday, May 27, 2020, in Long Beach, N.Y. Long Island has become the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it enters the first phase of the state's four-step reopening process. (AP Photo/Mary Altaffer)
May 27, 2020 - 4:50 pm
NEW YORK (AP) — Long Island became the latest region of New York to begin easing some restrictions put in place to curb the spread of the coronavirus. Gov. Andrew Cuomo lobbied the president for help with transportation projects. New York City Mayor Bill de Blasio said efforts to fight the virus...
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A child plays on a grid in the San Agustin neighborhood of Caracas, Venezuela, Saturday, May 16, 2020. President Nicolas Maduro is relaxing quarantine measures over the weekend by allowing children and older adults out of their homes for a few hours each day. (AP Photo/Matias Delacroix)
May 17, 2020 - 12:12 am
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — California resident who attended church on Mother's...
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Mayor Michael Hancock listens as chief financial officer Brendan Hanlon speaks during a briefing in Denver on Thursday, May 14, 2020, on the state of the Denver's budget, city employee furloughs and the resumption of business after closures due to the coronavirus. (AAron Ontiveroz/The Denver Post via AP)
May 14, 2020 - 10:04 pm
DENVER (AP) — Denver Mayor Michael Hancock said Thursday that thousands of city employees, including himself, will be furloughed for eight days this year to help close what is expected to be a $226 million budget gap caused by the coronavirus, joining mayors across the country that have made the...
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FILE- In this May 30, 2018, file photo the East Front of the U.S. Capitol in Washington is seen under stormy skies. The federal government piled up a record deficit in April, traditionally a month of big budget surpluses. The sea of red ink is being created by a drop in revenue and a massive increase in spending to fund efforts to deal with the coronavirus pandemic. The Treasury Department said Tuesday, May 12, 2020 that the government racked up a shortfall of $737.9 billion last month. That was more than three times larger than the previous record monthly deficit of $235 billion set in February. (AP Photo/J. Scott Applewhite, File)
May 12, 2020 - 4:34 pm
WASHINGTON (AP) — The federal government piled up a record deficit in April, traditionally a month of big budget surpluses. The sea of red ink is being created by a drop in revenue and a massive increase in spending to fund efforts to deal with the coronavirus pandemic. The Treasury Department said...
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FILE - In this March 18, 2020, file photo, Defense Secretary Mark Esper speaks as President Donald Trump listens during press briefing with the coronavirus task force, at the White House in Washington. The government’s $3 trillion effort to rescue the economy from the coronavirus crisis is stirring worry at the Pentagon. Bulging federal deficits may force a reversal of years of big defense spending gains and threaten prized projects like the rebuilding of the nation’s arsenal of nuclear weapons. Esper says the sudden burst of emergency spending to prop up a stalled economy is bringing the Pentagon closer to a point where it will have to shed older weapons faster and tighten its belt. (AP Photo/Evan Vucci, File)
May 12, 2020 - 12:13 am
WASHINGTON (AP) — The government's $3 trillion effort to rescue the economy from the coronavirus crisis is stirring worry at the Pentagon. Bulging federal deficits may force a reversal of years of big defense spending gains and threaten prized projects like the rebuilding of the nation's arsenal of...
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A police officer talks to a man meditating in a beach reopened for sport activities after the lockdown measures imposed by the government in Barcelona, Spain, Friday, May 8, 2020. In last minute negotiations, Spain's government has secured enough parliamentary support to extend later on Wednesday the country's state of emergency. Spain has recorded over 25,600 deaths from the new coronavirus. (AP Photo/Emilio Morenatti)
May 08, 2020 - 5:24 pm
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — COVID-19 deaths spike in Ohio nursing homes. — Miss...
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Gov. Gavin Newsom discusses his plan for the gradual reopening of California businesses during a news conference at the Display California store in Sacramento, Calif., Tuesday, May 5, 2020. Newsom has scolded two rural counties for allowing some businesses to reopen in defiance of his statewide coronavirus restrictions. (AP Photo/Rich Pedroncelli, Pool)
May 07, 2020 - 11:00 am
SACRAMENTO, Calif. (AP) — California will have a budget shortfall of $54.3 billion because of the economic devastation wrought by the coronavirus, Gov. Gavin Newsom's administration announced Thursday, a stunning reversal for a state that had a $21 billion surplus a year ago. The state has been...
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In this Jan. 11, 2019 photo, the Detroit skyline is seen from Windsor, Ont. Detroit's fiscal future faces a new daunting foe in the coronavirus. Detroit Mayor Mike Duggan on Tuesday, April 14, 2020, announced some layoffs, pay cuts for other employees and and a reduction in some services. He warned that Detroit could be subject to a return to state oversight if action isn't taken quickly. (AP Photo/Carlos Osorio)
April 15, 2020 - 1:31 pm
DETROIT (AP) — Barely surviving the 2008 economic meltdown and humbled by its 2013 bankruptcy, Detroit’s fiscal future now faces another daunting foe in the coronavirus. The state-forced shutdown of its three casinos, auto plants and other businesses to slow the spread of the COVID-19 virus is...
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