President Obama is poised to notch the lowest deficit of his six-year tenure at just more than a half-trillion dollars, reflecting slow but steady progress he and Congress have made on cutting annual spending. But the Congressional Budget Office said Wednesday that the long-term problems remain with entitlements such as Social Security and the major health care programs, which will send deficits soaring back toward $1 trillion within a decade.
Business & Economy
Burger King’s $11 billion acquisition of a Canadian coffee-and-doughnuts chain has fired up Senate Democrats and led to calls for a boycott, but the iconic fast-food joint hit back Tuesday as it finalized the deal.
A lawyer in the IRS ethics office is facing the possibility of being disbarred, according to records that accuse her of lying to a court-appointed board and hiding what she’d done with money from a settlement that was supposed to go to two medical providers who had treated her client.
Time Warner Cable said Wednesday service was largely restored after a problem that occurred during routine maintenance caused a nationwide outage of its Internet service for hours.
The federal government’s giant housing agencies could have saved taxpayers billions of dollars from mortgage fraud in a celebrated case involving Colonial Bank and Taylor, Bean and Whitaker, if they had shared more information with each other and conducted better audits.