May 10, 2015
by Jacqueline Jones
The Illinois supreme court on Friday overturned the 2013 Illinois Pension Law that attempted to reduce the state's pension deficit by eliminating automatic cost of living increases and extending the retirement age. The law itself would apply to four of the state's five state-funded retirement ...[read more]
January 6, 2014
by Taylor Gillan
Thousands of UK criminal trial lawyers staged a half-day strike on Monday to protest planned government cuts to legal aid. The fee cuts, which would reduce their pay by as much as 30 percent, are part of an attempt by the government to lessen the country's deficit. Lawyers refused to attend court ...[read more]
December 1, 2011
by Meagan McElroy
On December 1, 2004, the EU Commission announced its decision to take Greece to the European Court of Justice (ECJ) over accusations that the country disguised its violations of EU budget restrictions on reported deficits between 1997 and 2003. An EU report alleged that Greece under-reported its ...[read more]
November 3, 2011
by Meagan McElroy
On November 3, 2006, the Bush administration announced that it would require proof of US citizenship for Medicaid recipients born to illegal immigrants under one year of age. The administration cited the Deficit Reduction Act (DRA) in instituting the new policy, which mandates strict citizenship ...[read more]
August 27, 2011
by LaToya Sawyer
Spain's major political parties, the Socialist Workers' Party (PSOE) and the Popular Party (PP), reached an agreement on Friday to modify the country's constitution with provisions that will regulate the limits of the national deficit in order to avoid risks of debt crisis and a bailout. The ...[read more]
June 25, 2010
by Hillary Stemple
The Romanian Constitutional Court on Friday ruled that a government plan to reduce pension funds by 15 percent was unconstitutional, jeopardizing a pending billion dollar loan from the International Monetary Fund (IMF) needed to stabilize the Romanian economy. The planned decrease in the pension ...[read more]
November 10, 2009
by Sarah Miley
The Supreme Court of Kansas has announced that it may have to shut down state courts for one week every month as a result of an $8 million judiciary budget deficit created by a legislative oversight. The shortfall resulted from the state senate cutting $11 million from the judiciary budget under ...[read more]
September 28, 2009
by Jaclyn Belczyk
UK Chancellor of the Exchequer Alistair Darling on Monday urged banks to cut back on bonuses immediately instead of waiting for legislation following an agreement reached at last week's G-20 summit. In a speech to the Labour Party conference, Darling said that he hoped banks around the world ...[read more]
May 13, 2008
by Devin Montgomery
California Governor Arnold Schwarzenegger has abandoned a 2007 plan to release approximately 22,000 lower risk prisoners who have less than 20 months of their sentences remaining, according to a Tuesday report in the Sacramento Bee. The proposal was intended to cut a multi-billion dollar... ...[read more]
December 21, 2007
by Mike Rosen-Molina
California Gov. Arnold Schwarzenegger is considering a mass release of more than 20,000 nonviolent prisoners in hopes of staving off a projected $10 billion to $14 billion budget deficit over the next two fiscal years, the Sacramento Bee reported Friday. Only prisoners with less than 20 months ...[read more]

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