Friday, May 17 2013 6:16 PM EDT2013-05-17 22:16:47 GMT
Saturday's Powerball drawing is creeping toward record territory yet again. The May 18 lottery drawing is now worth $600 million, officials announced Friday. It's a $50 million jump from the $550 millionMore >>
Powerball officials say the jackpot has climbed to an estimated $600 million, making it the largest prize in the game's history and the world's second largest lottery prize.More >>
Friday, May 17 2013 5:35 PM EDT2013-05-17 21:35:21 GMT
RICHMOND, VA—When it comes to risk of corruption, Virginia ranks as one of the nation's worst states. The problem is largely due to a lack of public access to government information. Now, a state lawmakerMore >>
When it comes to risk of corruption, Virginia ranks as one of the nation's worst states. The problem is largely due to a lack of public access to government information.More >>
Friday, May 17 2013 4:43 PM EDT2013-05-17 20:43:21 GMT
NEW KENT, VA—A lightning strike is being blames for a fire at a West Point church that caused thousands of dollars worth of damage. The steeple of the First Baptist Church in King William County wasMore >>
A lightning strike is being blames for a fire at a West Point church that caused thousands of dollars worth of damage.More >>
Friday, May 17 2013 4:37 PM EDT2013-05-17 20:37:02 GMT
RICHMOND, VA—Richmond was just one city to join a nationwide rally Friday, opposing a resolution that would lift a current ban prohibiting gay leaders and scouts. "Scouting is not about sex, it's not aboutMore >>
Richmond was just one city to join a nationwide rally Friday, opposing a resolution that would lift a current ban prohibiting gay leaders and scouts.More >>
WASHINGTON (AP) - A new government report is predicting the budget deficit will drop below $1 trillion for the first time in President Barack Obama's tenure in office.
The Congressional Budget Office analysis says the government will run a $845 billion deficit this year, a modest improvement compared to last year's $1.1 trillion shortfall, but still enough red ink to require the government to borrow 24 cents of every dollar it spends.
The agency also projects that the economy will grow just 1.4 percent this year if $85 billion in across-the-board spending cuts take effect as scheduled March 1. Unemployment would average 8 percent.
The report predicts the deficit would dip to $430 billion by 2015. That would be a relatively low 2.4 percent when measured against the size of the economy.
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