The federal government will dole out more than $900 billion in the top 10 tax breaks this year, according to a report Wednesday from the Congressional Budget Office that found the benefits go disproportionately to the poor and the rich.
Treasury Secretary Jacob Lew warned Congress on Tuesday against taking drastic austerity measures to lower the nation's ballooning debt, saying the federal government also must spend money on job growth-related programs for the economy to fully recover.
He's skeptical about whether President Obama's budget truly will tackle runaway spending, but the House Republicans' budget point man believes the White House has taken a small step forward on the sticky issue of Social Security.
Top congressional Republicans declared President Obama's tax-laden budget for fiscal 2014 dead on arrival Wednesday, saying its failure to cut deficits destroys any hope of a "grand bargain" to fix the federal government's fiscal crisis
President Obama will not propose a balanced budget in the new fiscal 2014 spending plan that he'll submit to Congress next week, a White House official said Wednesday.
Senate Democrats had four years to consider spending and taxing policies that would help our bad economy. Apparently, they ignored their lawful responsibility since 2009 only so that Senate Majority Leader Harry Reid could avoid exposing that his party has no ideas to avoid our nation going bankrupt.
As the budget debate begins in earnest in Congress this week, President Obama and Senate Republicans have something in common — neither of them has produced a federal budget yet this year.
The Republicans and Democrats unveiled their budgets in Congress this week. And though they say numbers don't lie, some of their rhetoric stretches the truth.
House Budget Committee Chairman Paul Ryan's 2014 budget includes repeal of "Obamacare" ("Paul Ryan introduces GOP budget, sees balance in decade," Web, Tuesday). Faint-hearted Republicans say President Obama was re-elected, and previous efforts to repeal this disastrous law have failed.
