2014 Event Japan passes a $29 million fiscal stimulus package to improve the economy; the funds will be allocated to supporting small businesses, stimulating local economic activity, and strengthening areas damaged by destructive natural forces 2013 Event A Pontifical Commission is established by Pope Francise to investigate current accounting practices and implement new strategies for greater fiscal transparency and fiscal responsibility among all Vatican offices 2013 Event The 'fiscal cliff deal' is approved in the U.S. House of Representatives 2012 Event Italy's former Prime Minister Silvio Berlusconi receives a sentence of four years for fiscal fraud 2012 Event The 'immediate and severe' fiscal emergency declared by the U.S. city San Bernardino, California, allows it to declare bankruptcy without negotiating with creditors 2010 Event Arnold Schwarzenegger, Governor of California, responds to a fiscal state of emergency by requiring most state employees to take three days of unpaid leave per month 2010 Event U.S. President Barack Obama proposes a $3.8 trillion budget for fiscal 2011 which projects a record-high budget deficit of $1.6 trillion in fiscal 2010 1982 Event U.S. budget deficit reaches more than $110 trillion for fiscal year 1982 1982 Event AT and T looses record $7 BILLION for fiscal year ending on this day
