budget deficit

U.S. Budget Deficit Hits $193.5 Billion

The U.S. government is running a deficit that is 23.6 percent lower than in the same period a year ago through the first five months of this budget year.

Obama Seeks to Avoid Sequester with Short-Term Deficit Fix

President Barack Obama is asking Congress for a short-term deficit reduction package of spending cuts and tax revenue that will delay the effective date of steeper automatic cuts now scheduled to kick in on March 1. Obama said the looming sequestration cuts would be economically damaging.

Fiscal Cliff Deal Sets the Stage for Market Turmoil

When the fiscal cliff deal finally passed, the Dow Jones industrial average surged. But that doesn't mean the volatility is over. In fact, there could be more turmoil in the market soon because decisions on cutting the federal budget deficit have been put off until March, when the government will reach its borrowing limit.

House to Vote Thursday on Boehner Budget Plan

The GOP-controlled House is moving ahead Thursday on a bill that would raise taxes on people earning over $1 million a year, sparing most workers from a tax hike but leaving in place painful budget cuts to the military and domestic agencies as "fiscal cliff" talks appear stalled.

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.

Click to Buy? Now, Click to Cheat on Your Taxes

Most people pay their taxes voluntarily, but with at least one type of tax, millions of Americans break the law every year -- and many probably never realize it. Now, states in desperate need of more revenue are trying to do something about that.

Will Budget Battle End With a Tax Increase?

Republicans pushing for spending cuts in the 2011 federal budget may be ready to shut the government down to get their way. But is anyone ready to do what it would take to really make a dent in the federal budget: raise taxes on the rich, close corporate tax loopholes, and cut war spending?

GOP Wins Budget Battle, but May Lose Political War

The Republicans are winning this year%u2019s budget battle: Discretionary spending will decrease. But this is hardly the time for the GOP to take a victory lap: Next, the GOP will have to lower unemployment and improve the average American%u2019s daily life -- two areas where the party has historically come up short.