The Latest Breaking News from Deficit

Arthur Laffer, the Reagan-era guru of trickle-down economics, was unchastened by the deficit explosion back then, which effectively disproved his theory that cutting taxes on the rich would increase government tax revenue. According to a recent Washington Post writeup, Laffer continues to be unchastened now, even as Britain reels from…

PHILADELPHIA — For the 10th time, the Flyers found themselves facing a two-goal deficit. For the eighth time, they failed to find a way to come back, falling 5-2 to the Calgary Flames on Monday at the Wells Fargo Center.

The massive deficits across 32 local authorities have sparked fears of major tax rises or deep cuts to services.

The National Association of Head Teachers says more than half of schools say they’ll go into deficit this academic year and nine out of 10 schools in England are expecting to have run out of money by the next school year. Separate research from survey app Teacher Tapp found that…

Japan marked a trade deficit for the 15th month in a row in October as both imports and exports reached record highs

Nine out of 10 schools in England are expected to run out of money by the next academic year, with those in London among the worst hit. So is the future of education at risk forever? Katie Strick reports

COLUMBUS, Ohio — Standing behind his players in the first period, Flyers coach John Tortorella summed up their play in two words: “We suck.”

SUNRISE, Fla. — The Florida Panthers did not have much trouble with the Washington Capitals for the first two periods of their 5-2 win Tuesday in Sunrise. They were well on their way to 50 shots on goal, converted on a power play and every one of the Capitals’. Even…

DETROIT — Adversity met the Pistons at their doorstep once again as they dug themselves into a 14-point deficit caused by turnovers, sloppy play and bad free-throw shooting.