Philadelphia’s public school system is suffering a severe budget crisis, leaving classrooms packed, faculty understaffed and the district in debt. Special correspondent John Tulenko of Learning Matters examines what led to the shortage of funds and what lawmakers are doing…

Apr 01

New Ryan budget same as the old Ryan budgets

House Budget Committee Chairman Paul Ryan's budget blueprint for the 2015 fiscal year bears close resemblance to the proposals put forward the last few years by the Wisconsin Republican. Democrats are already sharpening their knives, hoping to use the familiar…

The Chinese government announced Wednesday that their defense budget will increase by 12.2 percent, nearly 808 billion yuan, for the 2014 fiscal year. In U.S. dollars, China will be boosting its defense budget from $117 billion to approximately $132 billion,…

Feb 20

The White House says President Barack Obama's upcoming budget proposal will not include his past offer to accept lowered cost-of-living increases in Social Security and other benefit programs. Those had been a central component of his long-term debt-reduction strategy. Officials…

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