Spending Cuts | featured news

Congress approved a $38-billion spending cut package Thursday, sealing a deal to prevent a government shutdown before plunging into an even more far-reaching debate over spending on federal programs and benefits for the years to come.

In the run-up to a vote, Speaker John Boehner predicted Thursday a $38 billion package of spending cuts would clear the House with a bipartisan majority and said it marks a first step in a longer Republican campaign to rein in federal deficits

It looks like the media is about to have some more fun with Vice President Joe Biden. It appears Biden nodded off during part of President Obama's debt reduction speech today, and had the misfortune of being caught on camera ...

Despite Republican-led calls to strip funding from NPR, public broadcasting emerged largely unscathed in the federal budget compromise hammered out in Congress over the past week.

President Barack Obama, two years into a presidency that increased spending to prime a weak economy, is turning his attention to the nation's crushing debt and trying to counter a Republican anti-deficit plan with a framework of his own that tackles politically sensitive health care programs while also increasing taxes....

The spending deal to avoid a government shutdown had been agreed to last Friday, but the details of the $39 billion in cuts were not released until Tuesday.

The White House on Monday urged Republicans not to tie an increase in the U.S. debt ceiling to spending cuts and admitted that President Barack Obama's own vote against an increase in 2006 was a "mistake".

With a partial government shutdown just minutes away, President Obama and congressional leaders reached a tentative deal Friday night to cut ...

Garbage will pile up in the streets of the capital, the Statue of Liberty will close and families of soldiers at war could struggle to pay the bills if Congress fails to reach a budget deal and the government shuts down this weekend.

With a midnight deadline looming, the White House and Congress scrambled on Friday to break a budget impasse that threatens to shut down the U.S. government and idle hundreds of thousands of federal workers.