Public finance stories from the United States and Canada you might have missed this week.

America could resemble Greece before 2020, says Pimco

America could begin to resemble Greece before the turn of the decade if it does not cut spending and raise taxes to tackle its debt, according to Bill Gross, head of the world's largest bond fund (Daily Telegraph).

Maine projects $756m budget deficit

An analysis by the budget bureau of the US state of Maine, which projects a $756m revenue deficit in the next two-year budget, is likely to renew debate over the sustainability of tax cuts passed, but not entirely paid for, by the current legislature (Morning Sentinel).

Canada missed last year's deficit reduction target, say sources

Federal officials have tidied up Ottawa’s books from last year and the final tally is expected to show Canada’s Conservative government has missed its deficit reduction target (The Star).

Deficit hawk David Walker stops in Atlanta

A failure of leadership is threatening to send the United States over a ‘fiscal cliff’ of debt that’s growing by $10m a minute, former US Comptroller General David Walker said this week (Atlanta Business Chronicle).

Indiana pensions get $360m infusion from budget surplus

Indiana governor Mitch Daniels has announced $360m from the state's budget surplus will shore up five pension funds (Indy Star).