If saved by the Supreme Court, the tariffs are also expected to shrink the economy and cause inflation to spike.

The federal budget deficit totaled $1.7 trillion in Calendar Year (CY) 2025, according to estimates from the Congressional Budget Office (CBO). The deficit in CY 2025 is $369 billion less than the ...

California's deficit is projected to reach nearly $18 billion next year, as spending is expected to offset, if not eclipse, strong tax revenues.

The national debt now stands at more than $38 trillion. The tariff revenue we rake in is just a drop in the bucket compared to that amount. The Trump administration has proposed using tariff revenue ...

The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data ...

Republicans pushed back against Governor Gavin Newsom's budget, with one state senator calling it "dangerously optimistic." ...

Central planning is bad, which means government spending is bad. Contra the most prominent number in economics (GDP), ...

The Newsom administration once overstated income by $165 billion over four years. Now Newsom has announced $42 billion in new ...

In his proposed budget, California Gov. Gavin Newsom is predicting a shortfall of $2.9 billion. That's much less than the $18 ...

The budget hole calls for sustainable revenue increases or serious spending cuts, the Legislature’s analysts say. But either would be unpopular with top Democrats.