Deficit Reduction | featured news

President Barack Obama offered strong praise Tuesday for a deficit reduction plan put together by a bipartisan group of senators, calling the measure's mix of tax hikes and spending reforms "broadly consistent" with his own approach to the current debt ceiling crisis.

President Obama said Friday Congress has a "unique opportunity to do something big" and stabilize the U.S. economy for decades by cutting deficits ...

Talks to reach a more ambitious deficit-reduction deal effectively broke down on Saturday, House Speaker John Boehner said, as he and fellow Republicans resisted any White House attempts that could increase taxes.

President Barack Obama pressed his case on Saturday for achieving deficit reduction, in part by ending tax breaks and singling out hedge fund managers, oil companies and billionaires to take the hit.

Vice President Joe Biden said Saturday the Obama administration wouldn't let middle class Americans "carry the whole burden" to break a deadlock over the national debt limit, warning that the Republican approach would only benefit ...

Congressional negotiators from both parties are set to sit down Thursday afternoon for their latest meeting on deficit reduction with Vice President Biden. The huddle, which begins at 1 p.m. at the Capitol, marks the group’s fifth meeting. On the agenda: the budget process, discretionary spending and the contentious issue of revenue. Here are some things to keep an eye on as the talks convene.

Republicans say the choice of House Budget Committee Chairman Paul Ryan to deliver the party's response to the State of the Union address signals the GOP's commitment to deficit reduction. The Wisconsin lawmaker was a member of President Obama's bipartisan fiscal commission, but voted against its recommendations.WASHINGTON – Republicans have tapped Wisconsin Rep.

Bernanke urged lawmakers to commit to reducing the nearly $2 trillion budget deficit, warning that the government can't borrow "indefinitely."