White House

President Obama's Weirdest New Taxes

To achieve $1.8 trillion in new revenue, President Obama has plenty of big taxes in his budget proposal. Here are some quirky maneuvers he suggests.

Pop Quiz: Fun Facts from Inauguration Days Gone By

On Monday, President Obama will be inaugurated again, and an estimated 800,000 people will descend on Washington, D.C., for the occasion. To get yourself ready for the festivities, take this little quiz that features some high and low points from America's 57 inaugurations.

Night of the Living Debt Ceiling: The Fiscal Horror That Is to Come

Last week's fiscal cliff deal did much to resolve the dark specter of economic uncertainty in America. However, it was only the first of three fiscal crises set to hit before March. Next on deck, another sequestration battle; and then the biggie: "Debt Ceiling 2: The Tea Party Strikes Back."

The 6 Biggest Busted Bets of 2012

As pundits and politicians rush to sew the year up into a neat little bundle, we decided to look at 2012 from a slightly different angle. Here is our list of the year's worst bets -- six developments that seemed like sure things in January, but were bust by December.

Fiscal Cliff Pop Quiz: Fun Facts from the Economic Apocalypse

On Jan. 1, 2013, the United States will fall over off the fiscal cliff -- unless Congress and the president ink a deal to avert the crisis. If you think you know all about the forthcoming economic apocalypse -- or if you're just wondering what all the fuss is about -- check out our quiz and see.

A Quickie Guide to Career-Ending Political Sex Scandals

A sex scandal this week led to the resignation of Gen. David Petraeus and shut the door on a promising political career. Washington's halls of power are littered with the corpses of political careers killed by a sexual indiscretions. Here are six types of career-ending political affairs.

A Radical Solution for the Social Security Crisis: Have More Babies!

In the debate over how to keep Social Security afloat, two proposals dominate: Either raise taxes or cut benefits. Neither is an attractive option, but one there is little-mentioned solution that could fix Social Security almost painlessly: Make more cute little Americans.

Congressional Budget Office Warns of Recession in 2013

The nonpartisan Congressional Budget Office is warning that if $607 billion in tax increases and spending cuts all hit as scheduled, the U.S. will likely go into recession in 2013. It's a "fiscal cliff" we don't have to jump off.

How Uncle Sam Spends Your Taxes: The U.S. Budget in 8 Easy Bites

Almost everyone agrees the federal deficit is a ticking bomb, but when it comes to ideas for solving the problem, some are contradictory and all are controversial. No wonder: If you look at where the money actually goes, it's easy to see why it's so hard to balance the budget.

Money and Power: Richest and Poorest U.S. Presidents

Being a U.S. president is a well-paying gig -- but it didn't pay off for all of them. Turns out, getting your face on our nation's currency doesn't always mean that much currency flowed your way. Here's our look at the White House's biggest fiscal winners ... and losers.

Will Budget Cuts Leave Our Nation Defenseless? Hardly

President Obama's proposed cuts to national defense spending have critics in a panicked tizzy. But while the document outlining his plan suggests that real change is afoot, it clearly contradicts the outlandish claims of its detractors.

Surprise! Here's Where Your Tax Dollars Go

Taxes. We resent paying them, yet, for the most part, they fund things we'd rather not do without. But exactly how much of our money is going to each service? The White House has made it easy to answer that question. So here's a receipt for where your tax dollars are spent.

Google Millionaire Begs: 'Raise My Taxes, Please!'

Tax increases on the wealthy just got another outspoken defender: Google's 59th employee, Doug Edwards. On Monday, in a town hall meeting in California, President Obama called on a seemingly-anonymous member of the audience to ask a question. What happened next was surprising.

Retail Launches Its Own Job Growth Policy Campaign

With the 2012 election season looming, the retail sector is getting vocally political for the first time. The National Retail Federation has launched "Retail Means Jobs," a year-long, $10 million advocacy campaign designed to push for retail-friendly policies in Washington.

Debt Ceiling: Is U.S. Being Honest About Deadline?

There is emerging evidence that the Treasury Department may have money to pay U.S. obligations beyond the August 2 deadline. While the real date may still be in August, an extra week or two could have a big impact on consumers' wallets, as well as stocks.

Obama Considering Naming William Daley to Top White House Job

President Barack Obama is considering naming former Commerce Secretary William Daley to a top White House post, perhaps chief of staff, The Associated Press reported. Daley, 62, is a JPMorgan Chase (JPM) executive and brother of Chicago Mayor Richard Daley. His appointment could help the Obama administration deflect charges that it is hostile to the business community.

Americans Say: We're Worse Off Since Obama Came to Town

President Obama sailed into the White House on the wings of hope, but now a majority of Americans say they're doing worse now than before he arrived two years ago, according to Bloomberg National Poll results released Thursday.