November 13, 2012 Virtually everyone agrees that allowing the nation to fall off the so-called fiscal cliff would be a bad thing. Government programs would be cut, taxes would rise, and experts say the economy would fall back into recession. And after all that, the nation still would be dealing with a budget deficit.
August 22, 2012 The nonpartisan analysis arm of Congress has released its latest forecasts on the budget and the economy.
December 14, 2011 Once again, Democrats and Republicans are at odds over taxes and other issues — and extensions of programs including benefits for the long-term unemployed are being delayed. They're "stumbling from impasse to impasse," the Los Angeles Times writes.
October 5, 2011 "In the eyes of many, it is hard to ask more of household that make $250,000 or $300,000 a year," says Sen. Chuck Schumer (D-N.Y.) "They are not rich" in many parts of the country. So some Democrats are pushing for a tax on millionaires instead.
September 19, 2011 While the president makes the case that reform means millionaires shouldn't pay at lower rates than those in the middle class, the House speaker says "tax increases destroy jobs."
August 12, 2011 The congressional supercommittee faces the task of cutting at least $1.2 trillion from the federal deficit over the next 10 years. Those seeking to influence the panel's recommendations also see a chance for gains.
August 10, 2011 The new "Debt Super Committee" created by the recent deficit ceiling deal now has 9 of its 12 members, as House Speaker John Boehner says Rep. Jeb Hensarling of Texas will co-chair the new committee. He joins Democratic co-chair Sen. Patty Murray of Washington.
July 18, 2011 Deficit-reduction negotiations continue. A deadline looms. But beyond that, not much is certain about what will happen.
July 15, 2011 With the Aug. 2 deadline approaching, lawmakers are also working on a plan that would give the president authority to raise the federal debt ceiling. The president is due to hold a news conference about the budget discussions later this morning.