Question: How do the Social Security and Medicare trust funds work? My understanding is that there is no money there, so that general government revenues have to be tapped to answer calls on them. Thus they are insolvent now? Paul…
In California, voters are weighing in Tuesday on ballot measures related to the state's budget difficulties. Spencer Michels reports.
By Admin, PBS NewsHour
The financial health of Social Security and Medicare, the government's two biggest benefit programs, has eroded amid the deep economic recession, according to reports released Tuesday.
Question: Please explain the trade deficit. What is it? Why is it important? Is it an indicator like taking someone’s temperature or is it a debt that has to be paid? Does it relate directly to our national debt?…
Congressional Democrats outlined plans Wednesday to scale back the Obama administration's budget plan as the president visited Capitol Hill to drum up support. Reporters examine the politics at play.
By PBS NewsHour
In his continuing public campaign of interviews and speeches, President Obama pledged Tuesday to fight for spending initiatives in his $3.6 trillion budget and defended efforts to stabilize the faltering economy.
New figures released Friday by the Congressional Budget Office predict the federal budget deficit will hit $1.8 trillion in 2009, billions of dollars more than previous estimates several weeks ago. Kwame Holman reports.
By Admin, PBS NewsHour
The Congressional Budget Office released figures Friday forecasting that President Barack Obama's budget will produce $9.3 trillion worth of red ink over 2010-2019 and that the deficit for this fiscal year will rise to a record $1.8 trillion.
By Business Desk
Question: Is it realistic for the president to cut the deficit in half in four years, even while spending on the war [in Iraq] and moving [troops] to Afghanistan? Paul Solman: The skepticism seems clear and well-taken. The most important…
White House Budget Director Peter Orszag details the new $3.5 trillion budget plan, explaining how the Obama administration will balance policy priorities and an anticipated $1.75 trillion deficit.
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