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Republican senators attacking the cost of a Democratic health care bill showed far different concerns six years ago, when they approved a major Medicare expansion that has added tens of billions of dollars to federal deficits. Complete Story...
The deficit in the broadest measure of foreign trade is expected to have widened slightly in the third quarter. But economists are hoping that U.S. exports will continue growing in coming months, providing support to American manufacturers and helping to lift the country out of recession.
President Barack Obama is sharpening the debate over federal spending, saying Republicans are stoking voters' fears by harping on deficits in a still-troubled economy.
A bipartisan group of former lawmakers and budget officials called on Congress and President Barack Obama Monday to commit to reining in trillion-dollar plus budget deficits to avoid dragging down the economy.
President Barack Obama's top economic adviser says creating jobs takes priority over reducing the country's red ink in the next year.
The deficit in the broadest measure of foreign trade posted a sharp increase in the July-September quarter, a sign that the U.S. economy was beginning to rebound as demand for foreign goods increased.
The Obama administration has alerted domestic agencies to plan for a freeze or even a 5 percent cut in their budgets, part of an election-year push to rein in record deficits that threaten the economy and Democrats' political prospects next fall.
President Barack Obama's top budget official promised Tuesday that the administration will try next year to wrestle the skyrocketing budget deficit under control to avoid higher interest rates and putting the health of the economy in jeopardy.
Treasury Secretary Timothy Geithner (GYT'-nur) says deficits are definitely too high, but the priorities right now are restoring economic growth and creating jobs.
Gov. Bill Richardson predicted that New Mexicans will face higher taxes next year to deal with the state's continuing budget problems.
Louisiana's Medicaid program is more than $250 million over budget this year, as swine flu made costs rise and Medicaid rolls grew amid the national recession, the state health secretary said.
What is $1.42 trillion? It's more than the total national debt for the first 200 years of the Republic, more than the entire economy of India, almost as much as Canada's, and more than $4,700 for every man, woman and child in the United States.
The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday.
The Congressional Budget Office is the non-partisan budget estimator for Congress. It calculates how much each piece of proposed legislation would cost the taxpayers.
A New York state audit of finances in a town filled with millionaires blames fiscal mismanagement for a deficit that required $15 million in bonding to cover budget shortfalls.
The U.S. trade deficit shot up in July to the highest level in six months as a surge in shipments of foreign oil and autos pushed imports up by a record amount.
Sen. John McCain is refusing to consider raising taxes to reduce the ballooning deficit.
President Barack Obama's pledge to make sure health care legislation is fully paid for excludes $245 billion to raise fees for doctors treating Medicare patients, a senior administration official said Tuesday.
In a year of eye-popping numbers, add one more: The government's annual budget deficit has topped $1 trillion.
WASHINGTON — The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about higher interest rates, inflation and the strength of the dollar.
The deficit in the broadest measure of trade plunged sharply in the first three months of the year as the country's deep recession depressed imports of oil and other goods.
A former budget officer in New York's exclusive Hamptons area pleaded not guilty Thursday to raiding a fund meant to buy land for conservation purposes and using $8 million to instead cover budget shortfalls.
Canada's finance minister said Monday the federal deficit will be substantially more than projected because the economic slowdown has been worse than expected.
The American Red Cross says it's on track to erase a $210 million deficit and balance its budget by next year.
The deficit in the broadest measure of U.S. trade fell sharply in 2008 for the second consecutive year, due partly to a larger surplus in services trade.
The recession seems to be winding down in general, but the Investor Class has been enjoying record profits while the American worker still awaits job growth by small businesses, the primary employers of Americans.
Voters Frown on Health Plan Details - Abortion, Proof of Citizenship, Public OptionSenate Democrats are celebrating this morning for passing their version of health care reform, but voters still don't like much of what they see.
Schwarzenegger Seeks Obama's Help for Deficit Relief Dec. 24 (Bloomberg) -- California Governor Arnold Schwarzenegger, anticipating a $21 billion state budget deficit, plans to ask President Barack Obama to ease mandates and minimums on social programs to save as much as $8 billion.
Cabinet approves record Yen92 trillion budget the Cabinet will have to issue ¥44.30 trillion in new government bonds — an alarming increase of 33.1 percent on the previous initial budget.
Huge Bonuses for Failed Fannie, Freddie Mortgage ChiefsHuge Bonuses for Failed Fannie, Freddie Mortgage Chiefs AP/The Australian The two chief executives of Fannie Mae and Freddie Mac could get paid up to $6 million each for 2009, despite the companies' dismal performance this year, which cost US taxpayers more than $100 billion.
John Stossel reported this previously--driving around in a virtually FREE golf cart, courtesy of the Federal Government (paying less than the equivalent of "shipping and handling" you pay for those "free" offers on the radio, or about $300).
Democrat-Led Congress Raises Debt Ceiling to Allow More BorrowingIn nearly its final act of the year, the US Senate on Thursday approved a $290 billion increase in the nation's borrowing limit, a move that sets up a contentious debate about the federal government's largesse early in 2010.
Senate Votes to Raise Debt Ceiling to $12.4 TrillionWASHINGTON -- The Senate voted Thursday to raise the ceiling on the government debt to $12.4 trillion, a massive increase over the current limit and a political problem that President Obama has promised to address next year.
Let the Bush Tax Cuts on the Wealthy ExpirePresident Barack Obama made clear during his campaign for the presidency that he intended to let the Bush tax cuts for the wealthy expire on schedule at the end of 2010. The administration's long-term budget outline counts on this happening.
Health Reform's CLASS ActThe CBO already estimates that the costs for this new program will eventually, just like Medicare, Medicaid and Social Security, outstrip its revenues.
Pop the champagne corks, the health care bill has passed the Senate! Or should we be happy about this bill at all? Should we scrap it and start over? Was this just the wrong time to undertake health care reform in the first place?
Shortage of health care workers a growing concern "Virtually every hospital or large medical group in the United States would be happy to add a family physician or general internist," said Merritt Hawkins' president Mark Smith. "There simply are not enough primary care doctors to go around."
[CBO] Director's Blog: Manager's [i.e. Sen. Reid's] Amendment to the Patient Protection and Affordable Care ActOver the 2010–2019 period, the net cost of the coverage expansions would be more than offset by the combination of other spending changes that CBO estimates would save $483 billion and other provisions that JCT and CBO estimate would increase federal revenues by $264 billion.
Strengthening the Estate Tax to Strengthen the Country - by Bill Gates, Sr.I believe that those of us who have benefited so greatly from our country's investment in our lives should be asked to give a portion of our wealth back to invest in opportunities for the future.
Greenspan backs deficit-reduction commissionWASHINGTON (Reuters) – Former Federal Reserve Chairman Alan Greenspan on Thursday endorsed a proposed bipartisan commission to help make the tough calls needed to get the spiraling and record U.S. debt under control.
House Democrats discard larger debt limitHouse Democratic leaders, bowing to their party's deficit hawks, will move the year's final must-pass piece of legislation without a long-term increase to the national debt and without a large boost in infrastructure funding that was aimed at creating jobs.
After bailouts and recession, the deluge of red ink?Having bailed out the banks ($700 billion but declining) and beaten back the recession ($787 billion and rising), President Obama's next big fiscal task has even more zeroes: $12,118,000,000,000.
Senate sends $1.1 trillion spending bill to ObamaThe Senate on Sunday passed a $1.1 trillion spending bill with increased budgets for vast areas of the federal government including health, education, law enforcement and veterans' programs.
The number of federal workers earning six-figure salaries has exploded during the recession, according to a USA TODAY analysis of federal salary data.
Democrat politicians have disappeared totally in the universe of lies, including Pelosi, Reid and Obama.
Many See the Value-Added-Tax as a Cure for DeficitsLike universal health care, every other industrialized country in the world already has a value-added tax (as do about 100 emerging countries).
The proposed Health Reform bills in both Houses of Congress should be scrapped and the legislation redrafted as a single payer plan using the following analysis as a starting point.
Bush Deficit Hurting Obama"What we have looked at were several major contributors to the deficit: the tax cuts between 2001 and 2003 (on the assumption they get extended in 2010), the cost of the wars in Iraq and Afghanistan and the effects of the recession as well as the legislative response to the reces …
There are about 12 million unemployed in the United States and there are about 15 to 20 million illegal immigrants in the US. At least half of the illegal immigrants are working.
Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlashIn a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year's rather than have to face the issue again prior to the 2010 elections.
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