CNBC's John Harwood reports House and Senate budget negotiations near a $90 billion deal. The proposed bill would reduce shutdown risk, but offers little long-term deficit reduction.» Read More
The dollar has further to fall, says David Skarica, author of "THE GREAT SUPER CYCLE: Profit from the Coming Inflation Tidal Wave and Dollar Devaluation." But the long-term outlook for the yen is rosier - and there is China.
In separate interviews, Ray Dalio of Bridgewater Associates, Warren Buffett, and Sam Zell all predicted that the dollar will face tough sledding in the months to come, affecting everything from Americans' standard of living to the growth of the smallest developing countries.
Congressional Republicans face a serious risk of political backlash from pressing their budget-cutting agenda at a time when Americans are more concerned about jobs, a new NBC News/Wall Street Journal Poll has found.
Republicans will present a plan to Congress next month to deal with the deficit by cutting entitlements, Rep. Paul Ryan, (R-Wisc.), chairman of the House Budget Committee, told CNBC Wednesday.
When Ed Rendell became the mayor of Philadelphia in 1992, he started a fight with the city’s labor unions that will sound familiar to anyone who has been following the recent news from Wisconsin. In his inaugural address, Mr. Rendell, a Democrat, announced, “Philadelphia stands on the brink of total disaster.”
Poll: Will a sustained $100 oil crimp the global economic recovery?
The collective bargaining process with public sector unions needs to be restructured to keep labor unions from “bankrupting states,” Sen. Ron Johnson, (R-Wisc.), told CNBC Wednesday.
The high-stakes fight in Wisconsin over union rights could have far-reaching effects on electoral politics in other states by helping solidify Republican power for years.
G20 finance ministers concluded meetings over the weekend in France where they highlighted the key role of exchange rates, monetary and fiscal policies in determining whether a country's policies lead to imbalances.
Charles Kantor, Managing Director and Portfolio Manager of the Kantor Group at Neuberger Berman, explains why waiting for a market pullback may be a fool’s errand – and why he thinks the rally might have much, much more to go.
Protesters who have descended on Wisconsin's Capitol in hopes of halting a Republican effort to end a half-century of collective bargaining rights for public workers steeled themselves for a long fight, buoyed by Democrats' decision to flee to avoid the measure's near-certain passage.
Illinois Governor Pat Quinn Wednesday proposed a budget that largely depends on selling more debt to pay off a pile of bills that have left Illinois' finances the weakest among U.S. states.
President Barack Obama says he's willing to work with Republicans to make changes to entitlement programs, like Social Security and Medicare, that threaten the nation's fiscal health
Neither US political party is willing to make the choices needed to bring down the crippling US budget deficits, economist Nouriel Roubini told CNBC.
President Obama's budget proposal resurrects a series of tax increases that were largely ignored by Congress when Democrats controled both chambers. Republicans, who now control the House, are likely to be even less receptive.
The trade deficit widened in December, closing out a year in which America's trade gap ballooned by the largest amount in a decade.
A new report says state tax revenues increased in the final three months of last year as the improving economy boosted income and sales taxes receipts.
Those of us who advocate for wholesale income tax reform understand the quixotic nature of the fight. Our federal individual income tax system is so chock full of special beneficiaries that any action aligns an array of constituencies far too politically sympathetic to defeat.
New Jersey Gov. Chris Christie will propose a further cut in the state's corporate tax rate during his budget address in February, the governor told CNBC Wednesday.
New budget estimates released Wednesday predict the government's deficit will hit almost $1.5 trillion this year, a new record.