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Budget day arrives with low expectations

February 13, 2012 The conventional wisdom that already surrounds President Obama’s fiscal 2013 budget is bleak, indeed. Dead on arrival. Just another political document. A collection of small-bore ideas. Harsh, yes. But, if history is any guide, the judgments are pretty accurate, more likely than not. The agenda that the president chooses to ...

Video: Low expectations for President Obama's budget request

February 10, 2012 The conventional wisdom that already surrounds President Obama's fiscal 2013 budget is bleak indeed. Dead on arrival. Just another political document. A collection of small-bore ideas. Harsh, yes. But, if history is any guide, the judgments are more likely than not pretty accurate. George W. Bush Social Security was his ...

President Obama's budget delayed until Feb. 13

January 23, 2012 The White House will release its budget a week late, on Monday, Feb. 13, according to an administration official. Originally, it had been scheduled for its release on Feb. 6. When asked about the delay, the official wrote in an email: "As in previous years, the date was determined based ...

Gingrich says he's a threat to Obama

January 23, 2012 Matt Rourke/AP Newt Gingrich tried to cast himself as the toughest threat to President Obama on Sunday morning, fresh off his blow-out victory in the South Carolina Republican primary and ahead of the next nominating contest. "My job in Florida is to convince people that I am the one candidate ...

What's at stake if Congress fails this time?

December 19, 2011 Congress is threatening stalemate again, and this time the effect would be felt by millions of average Americans. Here is what's at stake if lawmakers fail to stitch together some deal to keep alive jobless benefits, the payroll tax cut, and the "Doc fix" patch. UNEMPLOYMENT INSURANCE Roughly 1.8 million ...

Congressional Budget Office predicts $1.3 trillion deficit in 2011

August 24, 2011 The Congressional Budget Office is now predicting a federal deficit of $1.3 trillion for 2011, according to its latest mid-term outlook, marking the third-largest shortfall in the last 65 years. The gross domestic product is expected to increase by 2.3 percent this year and 2.7 percent for 2012. The national ...