President Obama on Monday will send Congress a nearly $4 trillion budget that seeks to increase federal spending aimed at middle-class Americans and offset the price tag through higher taxes on the well-off. The changes would take effect in the fiscal year that begins in October.
The federal government's 2015 budget deficit will fall slightly this year to $468 billion, the lowest since President Obama took office, according to the annual budget outlook released Monday by the nonpartisan Congressional Budget Office.
Congressional liberals rebelled Wednesday against a must-pass spending bill that would keep the government open past midnight Thursday, complaining that it would roll back critical limits on Wall Street and sharply increase the influence of wealthy campaign donors.
by Ashley Park and Robert Pear | The New York Times
Congress limped Wednesday toward a rare bipartisan agreement on a $1.1 trillion spending bill to keep most of the government operating through next year, but dysfunction once again threatened to derail it.
Gwen Ifill is moderator and managing editor of "Washington Week" and co-anchor and managing editor of the "PBS NewsHour." The best-selling author of "The Breakthrough: Politics and Race in the Age of Obama," Gwen has covered seven presidential campaigns and moderated two vice presidential debates.