Spending cuts News

Time is running out for the USA. As the country approaches what has been called the fiscal cliff a compromise between Democratic and Republican politicians seems as far away as ever.

California Governor Jerry Brown says California's budget deficit has soared to $16 billion or about $7 billion more than his previously announced estimate of $9.2 billion in January.

Events were held at libraries throughout the United Kingdom on Saturday as part of the 'Save our Libraries' campaign. Over 400 UK libraries could be closed due to government budget cuts, the Guardian reports.

The release of the President's Budget has confirmed the rumours that NASA's moon mission would be scrubbed. With millions of other cuts and reductions to control the deficit, the budget was unveiled Monday.