Recession, Taxes | featured news

Congressional leaders of both parties will meet with the president in an effort to reach a deal to avoid across-the-board tax increases and spending cuts that could push the economy into recession.

In a recession, state lawmakers are taxing personal vices. It’s good for you, they say, but it’s really better for their budgets.

The U.S. economy is no longer on the edge of collapse, but Americans must reduce the budget deficit, Treasury Secretary Timothy Geithner said Sunday.