tax cuts

Tax Cut Deal May Incite Bond Vigilantes, 'Dr. Doom' Warns

Nouriel Roubini, the NYU economics professor who has earned the nickname "Dr. Doom" for his predictions, says he's concerned the tax cut compromise struck by President Obama and GOP leaders could expose the U.S. to bond vigilantes who will drive up bond yields, resulting in higher borrowing costs for the federal government.

Obama Launches a Vigorous Defense of His Tax Agreement

The president bristled at Democratic criticism of his compromise with the GOP: "This isn't an abstract debate," the president said. "This is real money for real people that will make a real difference in the lives of the folks who sent us here."

Senate Republicans Block Tax Cut Extensions

The Senate failed to pass a bill that would have extended tax cuts for all but the richest Americans on Saturday, falling nine votes short of the two-thirds majority needed.

Bipartisan Debt Proposal Fails to Get the Votes

President Obama's bipartisan National Commission on Fiscal Responsibility and Reform voted Friday on whether to approve its own recommendations, and failed to get the 14 votes from its members required to send its proposal to Congress. But don't count out deficit reduction quite yet.

Americans Deeply Divided Over Tax-Cut Extensions

While most people support extending at least some of the George W. Bush-era tax cuts due to expire this year, a new Gallup/USA Today survey finds that Americans are deeply divided on which cuts should continue -- and for how long.

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.

Obama to Work With Congress on Tax-Cut Agreement

President Barack Obama, who has disagreed with Republican Congress members on whether to extend George W. Bush-era tax cuts for wealthier Americans beyond this year, said Tuesday that he will work with U.S. senators on finding some sort of tax-policy agreement by the end of the year.

Why New Jersey Is Still No. 1 for Property Taxes

If there is one thing that unifies residents of New Jersey in these divisive times, it's property taxes: Everybody hates them. One of the Garden State's chief claims to fame -- besides 'The Sopranos' and The Boss -- is that its residents pay the highest property taxes in the country.

Newt Gingrich: Say No to 'More Food Stamps'

"More food stamps? Or more paychecks?" Former Speaker of the House Newt Gingrich suggests that's how the GOP should couch the national policy debate before the midterm elections. But will demonizing programs that aid the poor help the GOP sell policies that only benefit the rich?

Obama Attacks GOP for Failing to Act on Economy

In a rare Friday press conference at the White House, President Obama stayed on the offense against Republican, accusing them of dragging their feet just as the economy needs another boost.

Obama Assails GOP Over Economic Policies

Laying out details for his new economic stimulus program Wednesday, President Barack Obama regained his political swagger and ramped up his criticism of Republican leaders for failing to provide substantive policies that can help the nation's economic recovery regain momentum.

Economic Growth Revised Lower for Second Quarter

U.S. economic growth slowed to an anemic 1.6% pace in the second quarter, due primarily to a worsening trade imbalance. The sole ray of light in the Commerce Department's report was that the downward revision was not as severe as economists had expected.

How Not to Mess Up the U.S. Economy

Every 40 years or so in the United States, American capitalism has to be saved from the capitalists, and the current economic slump appears to be one of those times.

Obama's Budget: Jobs Now, Lower Debt Later

President Obama's budget plan for 2011 includes about $100 billion in spending to address the issues of unemployment and economic weakness. The funds will go to small-business tax cuts, social safety net programs, aid to states, and investments in clean energy and infrastructure.