New York City's mayor is facing sharp criticism after declaring that his administration erased a massive $12 billion budget deficit while still funding public services, housing programs, libraries, ...

New York City Mayor Zohran Mamdani announced on Tuesday (May 12) that he has successfully delivered a balanced budget for fiscal year 2027, despite inheriting a $12 billion deficit. The $124.7 billion ...

Newsom and legislative leaders announced a balanced budget has been enacted, but the truth is California will continue overspending until the chronic deficit is addressed.

Accurately describing the state financial situation depends largely on a person’s definitions of “balanced” and “deficit.” Gov. Gavin Newsom and legislative leaders describe the 2026-27 budget they ...