Related Content: deficit

Is U.S. Budget Deficit Shrinking Too Fast?

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With all the high-profile haggling over tax increases and spending cuts to avert the fiscal cliff, is it possible the federal budget deficit is shrinking too fast? David Wessel explores that jarring question on The News Hub.

PBS NewsHour: Paul Krugman: Hasty Fiscal Fix to the Deficit Would Cause 'Austerity Bomb'

Web content

Though Republicans claim $2.2 trillion would be saved by their plan for long-term deficit reduction, economist Paul Krugman calls it a "vapor plan," with few details on where savings will come from. Gwen Ifill talks to Krugman about why he thinks reducing the deficit too fast could push the economy back into recession.

 

Obama vows firm stance on deficit-reduction plan

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President Obama reassured leaders of labor and progressive groups on Tuesday that he will not yield to Congressional Republicans and extend Bush-era tax cuts for the wealthiest Americans as he negotiates for a deficit-reduction plan to avoid looming tax increases and spending cuts.

Deficit Deal Stalemate

Vault Show

Newly re-elected, President Obama has to find a way to get a divided Congress to reach an agreement to prevent a fiscal crisis or risk pushing the country into recession. We look in the vault to November 2011 when the supercommittee failed to reach a budget deal affecting national politics and the economy.

Watch the full show from November 25, 2011 here

Back to work, Obama is greeted by looming crisis

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Newly re-elected, President Obama moved quickly on Wednesday to open negotiations with Congressional Republican leaders over the main unfinished business of his term — a major deficit-reduction deal to avert a looming fiscal crisis — as he began preparing for a second term that will include significant cabinet changes.

Test for Obama as deficit stays over $1 trillion

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Four years ago, Barack Obama campaigned for president on a promise to cut annual federal budget deficits in half by the end of his term. Then came financial calamity, $1.4 trillion in stimulus measures and a maddeningly slow economic recovery.

A Portrait Of A Country Awash In 'Red Ink'

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As the federal debt balloons, reducing it would seem more and more pressing. Yet policymakers remain far apart. Debt, deficit and budget rhetoric is often accompanied by numbers cherry-picked to support a particular political view.    But a new book by Wall Street Journal economics writer David Wessel lays out the numbers that both political parties face.

SPIN METER: Lawmakers' Talk of Cuts is Just Talk

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If there's one thing Republicans and Democrats in Washington say they agree on, it's the need to reduce federal spending. And it's something they almost never do, as recent events have proved again. Last week the U.S. Postal Service asked the Senate for permission to proceed with a multibillion-dollar savings package that included closing thousands of money-losing post offices. The Senate refused, voting instead to give the Postal Service another $11 billion amid speeches hailing the historic role of post offices in small towns.

Health-Care Law Will Add $340 Billion to Deficit, New Study Finds

On The Radar

President Obama’s landmark health-care initiative, long touted as a means to control costs, will actually add more than $340 billion to the nation’s budget woes over the next decade, according to a new study by a Republican member of the board that oversees Medicare financing.
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Democrats Attack Ryan Budget Plan, Again

On The Radar

A year ago, Democrats made political mincemeat of Rep. Paul Ryan’s budget plan, attacking it for its cuts in Medicare and other programs. They’re hoping Mr. Ryan’s new plan will provide similar political damage. In a statement Tuesday, White House Communications Director Dan Pfeiffer said the plan “once again fails the test of balance, fairness and shared responsibility.”
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