budget deficit

Vallejo, Calif. files for bankruptcy protection

SAN FRANCISCO -- The city of Vallejo filed for bankruptcy protection Friday to deal with a ballooning budget deficit caused by soaring employee costs and declining tax revenue.

Democrats plan breaking deficit discipline promise again

WASHINGTON -- Democrats are finding more excuses to ignore the promise they made when they took over Congress that they wouldn't pass laws increasing the budget deficit.

Gutsy move by another GOP gov. needed on budget

F ormer Gov. Pete Wilson famously -- or infamously, depending on your politics -- raised taxes to help tame a behemoth budget deficit. I asked him recently whether, 17 years later, he had any regrets.

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