The $6.5 billion San Francisco budget was officially signed Thursday morning with a celebration. But it also came with financial warnings: Midyear cuts could happen within months and deficits are projected for years to come.
The financial uncertainty leaves services and department budgets at risk for slashing if the economic situation worsens and state and federal cuts come in larger than anticipated. Read More
Rep. Thaddeus McCotter (R-Mich.) wants to eliminate his own job. Well, not the whole congressman thing, but the plum position he holds as chairman of the House Republican Policy Committee. Read More
First the good news: Federal tax collections in June, an important month for receipts because of payments due from those who pay quarterly estimated taxes, are up from June of last year. Read More
The federal budget deficit in May 2010 wasn't as bad as May 2009.
As seen in the most recent Monthly Treasury Statement, the May 2010 deficit of $135.9 billion came in about 28% lower than the $189.7 billion shortfall that occurred during the preceding May. Read More
Jonathan Chait cites the compromise between former president George H.W. Bush and Senate Democrats to increase taxes and cut spending as conservatism's 'one success' in the past few decades. While this may be a somewhat harsh assessment of conservatives' political successes, I think Chait makes a good point on the merits of the senior Bush's tax compromise. Read More
Don’t worry about an extra fee on that gum purchase just yet.
Department of Public Works Director Ed Reiskin said in February charging additional “litter fees” was being explored as a way to help close The City’s budget deficit. Read More
From a mid-Market Street location today, Mayor Gavin Newsom will unveil how he has closed The City’s $483 million budget deficit.
At 3:30 p.m., Newsom will present details of his proposed city and county budget for the fiscal year that begins July 1 at the Luggage Store, 1007 Market St. The location is a nonprofit arts organization known as The 509 Cultural Center. Read More
As our own Susan Ferrechio reported yesterday, Democrats are having an awfully hard time rounding up the votes for their “extenders” bill in both the House and Senate. Read More
With TARP, the stimulus. the GM/UAW Bailout and Obamacare, you’d think Democrats would be exhausted from their efforts to spend money. But no, their zeal for spending is apparently inexhaustible: Read More