Barack Obama, Tax Increase | featured news

President Barack Obama, two years into a presidency that increased spending to prime a weak economy, is turning his attention to the nation's crushing debt and trying to counter a Republican anti-deficit plan with a framework of his own that tackles politically sensitive health care programs while also increasing taxes....

President Barack Obama is sending Congress a $3.73 trillion spending blueprint that pledges $1.1 trillion in deficit savings over the next decade through spending cuts and tax increases.

U.S. President Barack Obama will keep his promise not to raise taxes on people making less than $250,000 a year, the White House said Monday, rebutting comments by administration officials that indicated otherwise.