budget

What is Washington doing with the billions of dollars coming into the Pentagon? Defending the interests of other nations.

2020 has revealed the strange paradoxes of our time. We can develop a vaccine for a global pandemic in less than a year, but one little hiccup in the supply chain, and it’s easier to find water in the Sahara than to find toilet paper at Safeway.

California’s 2020-21 $202 billion state budget spends about three times as much per state resident, adjusted for inflation, as 30 years ago. But look around and you won’t see your tax dollars at work. You will see public schools in disrepair, potholes large enough to take out your rear axle and century-old water pipes bursting. …

Severe limitations on travel and the virtual shutdown of the hotel industry during the coronavirus pandemic is wreaking havoc on the treasuries of state and local governments, a sobering new report reveals. Tax revenues that hotels generate for New York’s state and local governments will crater by $1.3 billion this year, according to an analysis …

Los Angeles officials announced plans to slash the city’s police budget by up to $150 million in order to reinvest the funding in communities of color, as protests against police brutality and the death of George Floyd continue to rock the city. The city will “identify $250 million in cuts so we can invest in …

The coronavirus pandemic could lead to a quicker expansion of sports betting and internet gambling in the US as states deal with huge budget deficits and look for new tax revenue wherever they can find it. Most major sports remain shut down due to the virus, but European soccer and Asian baseball have begun play, …

Radio broadcasting giant iHeartMedia is aiming to cut $250 million in costs this year, including furloughs and pay cuts, as it looks to weather the economic fallout from the coronavirus pandemic iHeart Chairman and Chief Executive Bob Pittman said in a Tuesday statement that iHeart’s senior management team and some other employees “voluntarily agreed to …