Obama to Propose Cuts to Social Security, Official Says
Obama will offer cuts to Social Security and other programs in a budget proposal aimed at swaying Republicans to compromise on a deficit-reduction deal, a source says.
U.S. budget
U.S. Budget Deficit Grows by $260 Million in December
The U.S. annual budget deficit is on track to reach $1 trillion for a fifth straight year, though government revenue jumped last month as people paid some taxes early to avoid higher rates in 2013.
U.S. Budget Deficit Reaches $172 Billion in November
The U.S. federal government's budget deficit widened in November compared to October, a sign that the nation is on a path to its fifth straight $1 trillion-plus deficit. The budget gap rose to $172 billion in November, up from $120 billion in October, the Treasury Department said Wednesday.
High Heating Oil Prices Continue to Drain Wallets
Winter in the Northeast was particularly brutal this year, but not enough to account for the likely record prices. Blame crude oil's recent price jump for that. But the chills could become even worse if Obama's proposed cut in low-income energy subsidies passes.
Top American Spending Priorities: Education, Social Security and Medicare
If the government budget follows popular sentiment, education, social security and Medicare are safe. Those are the areas where fewest Americans want to see government spending cuts, according to a Gallup poll released Wednesday.