obama budget

President Barack Obama on Monday sent Congress a new budget that seeks to achieve $4 trillion in deficit reduction over the next decade while at the same time showering billions of dollars of increased spending on areas aimed at giving the economy a quick boost.

Like all budgets, the federal government's spending plan is all about revenues and expenditures. Unfortunately, Uncle Sam is very good at grossly overestimating tax receipts and grossly underestimating spending. It's enough to make you wonder if any of it is real.

With new faces in Congress, President Obama knows his $3.73 trillion budget will be a hard sell. That's why he took his message to the airwaves this week, making TV appearances and issuing statements calling for "tough choices and sacrifices." A top priority of Obama's budget plan is to hack away...

With spending cuts and tax hikes on the rich, President Obama says the U.S. will reap $1.1 trillion in deficit savings over the next decade. But his 2012 budget has already been met with harsh criticism by Republicans for not going far enough.

President Barack Obama releases his proposed $3.8 trillion federal budget for fiscal year 2011 and immediately the hue and cry is one of "$1 trillion structural deficits," "a nation going broke" and "an unserviceable debt."

President Obama's plan to scrap the Constellation space program designed to send U.S. astronauts to the moon is being blasted by senators from states with heavy space industries. The policy shift reignites questions about the mission of the U.S. space program and the role of private companies in that effort.