Budget Deficit, Federal Budget | featured news

President Barack Obama unveiled his proposed Fiscal Year 2014 budget plan Wednesday in the White House Rose Garden, offering a combination of new spending initiatives and tax increases aimed at creating jobs and reducing future budget deficits. In his remarks, Obama called his plan “a fiscally responsible blueprint for middle-class jobs and growth.”

The wrangling of President Barack Obama and congressional Republicans over the federal budget underscores a clash of core philosophies about how the economy works that supersedes any skirmish on taxes or spending cuts.

The tax plan by GOP presidential hopeful Newt Gingrich would provide big tax breaks to the rich and blow a huge hole in the federal budget deficit, according to an independent study released Monday.

The federal government recorded a $1.3 trillion budget deficit in fiscal 2011, the same as the previous fiscal year, the Congressional Budget Office said.

"Supercommittee" of six Republicans and six Democrats has 105 days to find a way to reduce the national deficit.

Well, no one can doubt anymore that Republicans are petrified that the Medicare cuts in Rep. Paul Ryan’s budget might cost them the 26th congressional district in New York, long a safe Republican seat, in the May 24 special election. It’s a classic technique in politics that if your opponent has found an issue that’s working against you, you turn the tables and declare your opponent’s position to be as bad as yours, or worse.

President Obama's deficit-reduction plan “falls short” of targets set by House Republicans and Obama's own fiscal commission and would be unlikely to stabilize borrowing, according to a new independent ...

Most Americans oppose the big spending cuts that many in Washington see as necessary to bring down the budget deficit, a new poll suggests, but they do support one idea for deficit reduction that President Barack Obama has pushed for years — raising taxes on the rich.

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.