New York faces a $2.3 billion shortfall in revenue after December and January witnessed a steep drop in income tax collections, Gov. Andrew Cuomo (D.) and state Comptroller Tom DiNapoli announced on Monday. 
President Donald Trump announced on Thursday that civilian federal employees will not receive a pay raise in fiscal year 2019 in order to "put our Nation on a fiscally sustainable course." 
President Donald Trump's proposed budget for 2018 would reduce the deficit over the next decade by $160 billion and increase GDP at the same time, according to an analysis from the Congressional Budget Office. 
The Treasury is set to run out of cash in October, which may lead to a default on debt obligations or payment delays for government programs, according to a report from the Congressional Budget Office. 
Repealing the Affordable Care Act could reduce the deficit by as much as $1.07 trillion, according to a report from the Mercatus Center. 
The annual federal budget deficit is larger than expected and is now projected to reach $590 billion, according to estimates from the Congressional Budget Office. 
The deficit is estimated to more than double in 10 years, which is projected to push debt held by the public up to 77 percent as a percentage of Gross Domestic Product (GDP), according to Congressional Budget Office (CBO) estimates. 
The federal government collected a record amount of taxes in the first 10 months of fiscal year 2015, exceeding $2.6 trillion in revenue, according to the latest monthly Treasury Department statement. Despite the record revenue, the federal government ran a deficit of $465 billion. 