#Federal Budget

The federal debt held by investors and foreign countries amounts to 72 percent of the country’s Gross Domestic Product. Except for a short period around the end of World War II, that's the highest level in U.S. history.And although the…

The Senate today cleared the way for the expected passage of a two-year budget plan that could avoid a government shut-down next month but reduces the deficit only slightly over the next decade and fails to deal with many critical…

President Obama hailed the two-year budget deal reached by House Budget Committee Chair Paul Ryan (R-Wis.) and Senate Budget Committee Chair Patty Murray (D-Wash.) as a “good first step.” If he meant a good first step toward broader reforms needed…

Congressional negotiators are reportedly moving towards a limited budget agreement that would avoid another government shutdown but generally fails to pursue substantial fiscal reforms.A budget conference committee was given until this Friday to come up with a belated compromise plan…

Extending emergency unemployment compensation for another year would add 200,000 jobs but carries a price tag of $25 billion, according to an analysis released recently by the Congressional Budget Office (CBO). (more…)

If the recent past is any indication of how elected officials will deal with the country’s short- and long-term fiscal challenges, Americans – and especially younger ones – are in trouble. Washington will have to step up its game. And…

Another week has passed with no substantial progress reported towards a federal budget for the fiscal year that began nearly two months ago. Lawmakers began their Thanksgiving breaks last week, although private discussions on the budget were said to be…

A recent report by the Congressional Budget Office (CBO) found that the Pentagon’s latest five-year plan would cost substantially more than the funding allowed under the sequester caps.Each year the Department of Defense provides Congress with its “Future Years Defense…