federal deficit

Americans See China as World's Strongest Economy

Nearly half of Americans in a recent poll believe China has surpassed America as having the strongest economy in the world, and more than half blame outsourcing and the loss of manufacturing jobs for the shift.

The Deficit Commission's 'Moment of Truth'

Calling for sweeping spending cuts and an overhaul of the U.S. tax code, the White House Deficit Commission today issued a report outlining its recommendations for tackling the U.S. debt crisis.

Main Street Doesn't Buy Wall Street's 'Recovery'

If stocks are rising, many Wall Street gurus take it as evidence that the economy is improving. Yet even though the S&P 500 has soared 80% from its March 2009 lows, 70% of Americans don't believe the recession is over. Is Main Street's grasp on reality firmer than Wall Street's? Let's look at the data:

2010 U.S. Budget Deficit Comes in Below Expectations

Investors received another sign Friday that the U.S. economy is continuing to heal: The 2010 U.S. budget deficit came in at a smaller-than-predicted $1.29 trillion. Though it was still the second-highest deficit on record, the numbers reflect growth in tax revenues, and thus in the economy.

Could Congress Eliminate the Federal Budget Deficit?

The annual U.S. budget deficit is well over a trillion dollars, and in the long term, that's unsustainable. But a closer look at the sources of most of that gap shows that balancing the budget wouldn't be nearly as hard as it might at first appear.

Is this the Era of an Economically Irrelevant America?

There are people around the world rubbing their hands with glee at America's supposed collapse, pundits who say this nation is so bankrupt that it has become irrelevant. But author, venture capitalist and DailyFinance columnist Peter Cohan says don't write America's obituary just yet.

Larry Summers Wants Another Round of Stimulus

President Obama's Chief Economic Adviser is calling for another round of stimulus spending, totalling $200 billion. Summers will speak Thursday at the National Constitution Center in Philadelphia. As the event's media partner, DailyFinance invites readers to submit qutesions and watch the event liv

U.S. Deficit for Sale, But Who's Buying?

The U.S. heads for a record $1.56 trillion deficit this year, but who will fund that debt? The largest Treasury holders, China and Japan, are cutting back and no other obvious takers have stepped forward.

Is Fee-for-Service What Ails the Health Care System?

Evidence suggests that the reason Americans pay so much for health care is the fee-for-service model at the heart of all our insurance programs. Simply put, our system gives patients no reason to pay attention to costs, and providers every reason to pad the bill.