While the federal deficit has started to shrink under President Trump, his plans could make the long-term situation worse.

The Nova Scotia government's projected $1.24-billion deficit and its plans to reduce it have become a topic of debate following the release of the province's budget for the 2026-27 fiscal year.

WASHINGTON, Feb 11 (Reuters) - The U.S. government posted a $95 billion budget deficit in January, down $34 billion or 26% from a year earlier as revenue ‌gains including customs duties outpaced growth in outlays, the Treasury Department said ‌on Wednesday

The US budget deficit was already on shaky ground before the Iran war, and reports that Pentagon will seek an additional $200bln in military funding only complicates the fiscal risk outlook.

Cincinnati government will face lean times in the next year. City budget officials have warned city departments to prepare for possible 5% cuts. The city is facing a projected $29.5 million deficit in a $548 million general fund budget for the next fiscal year.

CT Comptroller Sean Scanlon projected that Gov. Ned Lamont is months away from the first formal budget deficit of his administration.

Houston's elected "financial watchdog" Controller Chris Hollins issued a stark warning to city leaders that municipal government is sinking deeper and deeper into the red.