Barack Obama, Federal Budget | featured news

Scolded by President Barack Obama, Congress scrambled on Saturday to produce a deficit plan within 48 hours that keeps the United States from a catastrophic debt default now days away.

The Senate on Friday voted along party lines against the proposal to cut spending and raise the debt limit. President Obama pressed for compromise during a town hall meeting.

President Barack Obama offered strong praise Tuesday for a deficit reduction plan put together by a bipartisan group of senators, calling the measure's mix of tax hikes and spending reforms "broadly consistent" with his own approach to the current debt ceiling crisis.

President Obama said Friday Congress has a "unique opportunity to do something big" and stabilize the U.S. economy for decades by cutting deficits ...

Budget talks between President Barack Obama and his GOP rivals are at a frustrating standstill, leading a top Republican to launch a long-shot proposal to give Obama sweeping new powers to muscle through an increase in the government's debt limit without the approval of a bitterly divided Congress.

In advance of Thursday’s White House meeting to resolve the stalemate in the debt talks, we've learned that Obama and Speaker Boehner share a goal to prove they can get a 'big' deal done.

President Barack Obama pressed his case Wednesday that tax cuts for the wealthiest Americans must be ended as part of a deficit deal, which he said he believed Republicans and Democrats would reach.

President Obama meets with Senate leaders, but no one wants to back away from tough stances on taxes. Debt-reduction talks between congressional leaders and the White House entered a crucial phase Monday, with no clear framework for resolving the deadlock over taxes and spending and a deadline for a potential federal default fast approaching.

An unusual round of golf won't solve the Republican-Democratic budget battles, but it could lead to better relations between the White House and Congress. The president prefers a laid-back round on a Sunday morning.

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 ...