The Federal Budget Crunch
Defense Secretary Robert Gates talks with troops during a visit April 7 at Camp Victory in Baghdad.
A 'Radical' Plan To Cut Military Spending
()As Congress and the White House set a higher priority on cutting the budget deficit, a retired military man sees ways to reap major savings. In a plan he acknowledges as "somewhat radical," former Army Col. Douglas Macgregor proposes slashing the defense budget by 40 percent in just three years.
Debt Crisis Hangs Over Washington Politics
If the debt limit isn't raised by early July, the U.S. could default on its debt.
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Planet Money
Standard And Poor's Role In A Post-Crisis World()
April 20, 2011 S&P and the other big rating agencies are still important. Despite post-crisis changes, the agencies are still woven into the financial system.
Agency's Warning Heats Up Debt Ceiling Debate()
April 19, 2011 For months, lawmakers have known that the nation is on the way to hitting the debt ceiling, and news that credit rating agency Standard and Poor's has lowered its outlook on U.S. borrowing only puts more pressure on the coming debate. Now, lawmakers are weighing their options in the face of another high-stakes vote.
It's All Politics
Obama Begins Deficit Campaign With Low-Key Pitch()
April 19, 2011 In his first public forum since he laid out his deficit plan in a speech last week, the president defended his proposal to roll back Bush-era tax cuts for high earners, and said he would not gut spending on education, infrastructure and research.
Obama, Ryan Agree: Corporate Tax Code Needs Overhaul()
April 16, 2011 The president and the Republican chairman of the House Budget Committee were on opposite sides of a heated debate this past week over the best way to cut the federal deficit. But there's one thing Obama and Congressman Paul Ryan agree on: They both want to overhaul the corporate tax code.
House's Budget Blueprint Draws Up Party Lines()
April 16, 2011 House Republicans passed their 2012 budget Friday without a single Democrat voting for it. Its prospects in the Democratically controlled Senate appear dim at best, but it will likely provide plenty of fodder for next year's campaigns.
Planet Money
This Receipt Tells You Where Your Tax Dollars Go()
April 15, 2011 The White House launched an official taxpayer receipt today. You enter how much you paid in taxes, and the receipt tells you where your money went.
House Approves Sweeping GOP Budget Blueprint()
April 15, 2011 The nonbinding measure calls for dramatically revamping Medicaid and Medicare to pare trillions of dollars over the next decade. But it stands little chance of even reaching a vote in the Senate. Instead, it is likely to serve as an opening salvo in the debate over America's fiscal future and the 2012 election.
Planet Money
When U.S. Paid Off National Debt (Why It Didn't Last)()
April 15, 2011 Andrew Jackson really hated debt. So in 1835, under Jackson's leadership, the U.S. paid off the debt. Here's the story of how it happened — and why we started borrowing again a year later.
Congress Sends Budget Compromise To Obama()
April 14, 2011 The bipartisan legislation makes $38 billion in spending cuts to see the government through the rest of the fiscal year. The Senate voted 81-19 on Thursday to support the measure, not long after the House gave its approval, 260-167.
Taxes, Entitlements Still Sticking Points In Deficit Debate()
April 14, 2011 President Obama outlined a plan to reduce the government deficit through a mix of spending cuts and tax hikes. His plan will go up against another blueprint put forward last week by Republican Rep. Paul Ryan. Though they both seek $4 trillion in reductions, the plans differ dramatically.
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