SpendingCuts

Deep Spending Cuts Pose a New Threat to US Economy

Just as the U.S. economy is making progress despite Europe's turmoil, here come two new threats. A congressional panel is supposed to agree by Thanksgiving on a deficit-reduction package of at least $1.2 trillion. If it fails, federal spending would automatically be cut by that amount starting in 2013.

Social Security: Why Seniors Are Just Plain Angry

Described as a "fear tactic" by critics, the White House warned Tuesday that if Congress fails to raise the debt ceiling soon, come August, millions of Social Security recipients may find themselves without a check. The comments were met with a firestorm of criticism by seniors and their advocates.