#Federal Budget

Sen. Angus King (I-Maine), a member of the budget conference committee, on Tuesday released a proposal that replaces roughly half of the sequestration scheduled through 2021 with savings from mandatory spending and revenue from ending corporate tax expenditures. (more…)

The federal deficit totaled $91.6 billion in the first month of Fiscal 2014, down from $120 billion a year earlier, according to the Treasury Department. This follows a total deficit for Fiscal 2013 of $680 billion -- the first time…

The congressional conference committee on the budget got off to a leisurely start and now appears to have bogged down after only two public meetings – and less than a month away from a Dec. 13 deadline to complete its…

In recent interviews and speeches, Defense Secretary Chuck Hagel says the military is “challenging every past assumption, every past formula” for allocating budget resources as he tries to reorganize the military for 21st century challenges in the face of a rapidly…

The Congressional Budget Office says federal revenues were lower than expected in the last few months of Fiscal 2013, resulting in a deficit that was $38 billion higher than CBO had projected in May.The Treasury Department’s final number for the…

A halt in small business loans, lost tourism to national parks, and even a delay in the Alaskan crab season were among the costly effects of last month’s government shutdown, according to the Office of Management and Budget (OMB).An OMB…

A cost-of-living adjustment (COLA) will increase Social Security benefits by 1.5 percent in January, resulting in an average monthly raise of $19 for millions of disabled and retired workers.The adjustment, announced last week by the Social Security administration, is based…

With the budget conference committee facing a mid-December deadline to reach a bipartisan deal, the work has shifted to private discussions among various groups of lawmakers.Expectations for the committee, which held its opening session Wednesday, have been low. But if…