Barack Obama, Federal Budget | featured news

President Obama’s landmark health-care initiative, long touted as a means to control costs, will actually add more than $340 billion to the nation’s budget woes over the next decade, according to a new study by a member of the board that oversees Medicare financing.

Republicans are ready to ram through the House an election-year, $3.5 trillion budget that showcases their deficit-cutting plan for revamping Medicare and slicing everything from food stamps to transportation while rejecting President Barack Obama's call to raise taxes on the rich....

Congressional Republicans rejected President Obama’s $3.8 trillion spending outline as nothing more than a political document meant to guide his reelection campaign while putting off any of the tough decisions about ballooning red ink until after the voters have cast their ballots.

I love budgets. And not just because I love tables, charts and appendixes — though, to be clear, I do. I love budgets because they force us to run the numbers, to make trade-offs, to set priorities. The annual budget is, frankly, about as honest as the government ever gets with itself, and with the American people.

US President Barack Obama will ask government agencies on Wednesday to find cost savings by cutting back in areas ranging from travel and vehicles to purchases of promotional coffee mugs and gadgets.

President Obama's plan to roll back costly regulations that are no longer needed could save more than $14 billion over five years, the White ...

The Senate gave final approval Tuesday to legislation to raise the nation's debt limit by $2.4 trillion while cutting federal deficits, sending President Obama a hard-fought bipartisan package he was expected to swiftly sign into law.

As the nation stood Friday on the edge of a historic default and markets sank amid grim economic news and the legislative chaos, President Obama called on both Democrats and Republicans to abandon their favored debt-ceiling plans and come together to find a last-minute deal.

A rising number of Democrats are asking President Obama to take executive action and raise the $14.3 trillion debt ceiling on his own, but Obama ...

In a televised address to the nation on July 25, 2011, to discuss the pending deadline on the debt ceiling, President Barack Obama made his pitch for a "balanced" approach to reducing the deficit -- one that includes spending cuts as well as revenue increases from tax increases for wealthier Americans. With the debt ceiling issue caught in a political deadlock over how to reduce the deficit, Obama noted that raising the debt ceiling has been a relatively routine exercise for decades. "Understand –- raising the debt ceiling does not allow Congress to spend more money," Obama said.