budget deficit

DUBAI, United Arab Emirates - Dubai's government expects to run a budget deficit of nearly half a billion dollars in 2012 as it works to move beyond its financial difficulties.

The government is expected to report Friday that it ran a $1.3 trillion deficit in the budget year that ended last month, the third straight year that it has operated more than $1 trillion in the red.

Billionaire Warren Buffett urged Congress to raise taxes on the nation’s wealthiest individuals to help cut the U.S. budget deficit, saying it won’t inhibit investment or job growth.

April 20 -- Laurence Kotlikoff, a professor of economics at Boston University and a Bloomberg columnist, talks about the U.S. budget deficit and federal debt, and the likelihood of a 'bond market crash' as a result.

Gov. Jerry Brown is proposing to slash funding for most areas of state government and maintain a series of tax increases for five years to close California's huge budget deficit.

Picketers hurled eggs at buses and blocked trucks from delivering produce to wholesale markets as Spanish workers staged a general strike Wednesday to protest austerity measures imposed by a government struggling to slash its budget deficit and overcome recession.

Hungary’s budget deficit is about one-half that of Greece, and it is outside the euro zone.

As interest rates on Greek debt spiral upward again, the question facing Europe is no longer whether Athens has the political will to cut spending and raise taxes to curb its gaping budget deficit, but whether Greece will run out of money before it gets the chance to do so.

A spike in interest rates on Greek bonds underscored concerns that Greece will run out of money before it gets the chance to curb its gaping budget deficit.

The Greek government Wednesday approved another round of tax increases and pay cuts for public employees as part of new austerity measures aimed at reducing the country's huge budget deficit and defusing a debt crisis that has rattled the European Union and its common currency.