Budget Deficit, Federal Debt | featured news

Biden: Tax cuts for wealthy have to be part of deficit reduction plan

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 ...

 

NY 26: Republicans in retreat from Medicare cuts

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.

 

Geithner Issues Warning on Debt Ceiling

Treasury Secretary Timothy Geithner warned in a letter to Congress that failure to raise the $14.294 trillion debt ceiling would drive up interest rates, push down household wealth, put more pressure on federal entitlement programs and cause a double-dip recession.

 

Democrats’ Plan Would Offset Deficit by Ending Big Oil’s Tax Breaks

With high gas prices and federal deficits in the political spotlight, senior Democrats believe that Senate Republicans will support an idea they otherwise might not like.

 

Biden may have nodded off during Obama's speech

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 ...

 

White House warns on debt limit, says Obama regrets vote

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".

 

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