Budget news

Here are some recent budget news updates:

US Budget News

• The US government has reached a deal to avoid a shutdown, with a spending bill that includes $1.3 trillion in spending over two years. (Source: The New York Times)
• The White House has proposed a budget that includes significant cuts to social programs, including Medicaid and the Children's Health Insurance Program. (Source: The Washington Post)
• The US budget deficit is projected to reach $1 trillion in 2020, according to the Congressional Budget Office. (Source: CNN)

Global Budget News

• The European Union has agreed on a budget for 2021-2027, which includes a 2% increase in spending on climate action and a 10% increase in spending on defense. (Source: The Guardian)
• The UK government has announced a budget that includes a 2.7% increase in spending on the National Health Service (NHS) and a 1.2% increase in spending on education. (Source: BBC News)
• The Australian government has announced a budget that includes a 2.5% increase in spending on healthcare and a 1.5% increase in spending on education. (Source: The Sydney Morning Herald)

State and Local Budget News

• California has passed a budget that includes a 10% increase in spending on education and a 5% increase in spending on healthcare. (Source: The Los Angeles Times)
• New York City has passed a budget that includes a 2.5% increase in spending on education and a 1.5% increase in spending on public safety. (Source: The New York Times)
• Texas has passed a budget that includes a 2.5% increase in spending on education and a 1.5% increase in spending on healthcare. (Source: The Dallas Morning News)

Budget Trends and Analysis

• A new report from the International Monetary Fund (IMF) warns that the global economy is facing a "fiscal cliff" due to rising debt levels and aging populations. (Source: The Financial Times)
• A new study from the Center on Budget and Policy Priorities finds that the US tax code is biased towards the wealthy and corporations, and recommends reforms to address income inequality. (Source: The Washington Post)
• A new report from the Government Accountability Office (GAO) finds that the US government's budget process is broken and recommends reforms to improve transparency and accountability. (Source: The Hill)