Federal Deficit, Federal Budget | featured news

Republicans intend to stage a vote in the House next week on legislation to raise the nation's debt limit without requiring spending cuts, a measure expected to fail.

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.

Republicans planned sharp cuts to foreign aid and education on Wednesday, while Democrats weighed a tax hike on millionaires, highlighting the yawning divide between the two parties in the budget debate.

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 ...

Federal wildlife officials say they will take more than 1,300 gray wolves in the Northern Rockies off the endangered species list within 60 days. An attachment to the budget bill signed into law Friday by President Barack Obama strips protections from wolves in five Western states.

Congress approved a $38-billion spending cut package Thursday, sealing a deal to prevent a government shutdown before plunging into an even more far-reaching debate over spending on federal programs and benefits for the years to come.

In the run-up to a vote, Speaker John Boehner predicted Thursday a $38 billion package of spending cuts would clear the House with a bipartisan majority and said it marks a first step in a longer Republican campaign to rein in federal deficits

The Obama administration's proposed 2012 budget will include $1.1 trillion in spending cuts over 10 years.

The federal deficit through the first four months of the budget year is running at a record-breaking pace even though the deficit in January was slightly smaller than expected.