Osborne looks determined to stick to his message that Britain is only half-way through the belt-tightening plan he launched in 2010 to fix Britain's still wide budget deficit.» Read More
Less than a week after his bipartisan deficit commission offered a package of tough tax hikes and spending cuts to stem the flood of government red ink, the president and Republicans presented a tax plan that would add a whopping $900 billion to the nation's debt over two years.
Rep. Paul Ryan (R-Wisc.), the incoming chairman of the House Budget Committee, told CNBC Wednesday that he would push for permanent lower tax rates, "real" spending cuts and entitlement reforms when Republicans take control of the House in January.
Economist Nouriel Roubini on Wednesday voiced concern over a compromise on extending tax cuts struck by US President Barack Obama and Republican leaders, saying the agreement could expose the US to bond vigilantes who will drive up the price of yields
The best that can be said about this potential compromise is that the US avoided disaster by averting a massive tax hike during a weak economic recovery.
Interest rates are flat, TARP pays for itself and the Euro holds steady.
Economic growth will be subpar, the jobless rate drifts lower, deflation remains a concern, deficit reduction goes nowhere and heads roll in Washington.
Deficit commission member and chairman and CEO of Honeywell International, Dave Cote, voiced his support for the panel’s fiscal austerity plan in a CNBC interview Wednesday.
America's "Number 1 domestic problem," the federal deficit, took center stage on Wednesday morning as President Obama's bipartisan deficit commission released its findings. Some members of the 18-member bipartisan deficit commission, appearing on CNBC Wednesday, weighed in with their thoughts. To read the full report,
As Congress considers new ways to cut spending, here's one idea health advocates are pushing: prevent people on food stamps from using benefits to buy sweetened sodas.
Trimming the federal budget deficit ultimately means tough choices. And to get an idea just how tough, we printed out the entire federal budget—43,000 pages in all. It stands 16 feet tall. Cutting it down to size will be an enormous task.
A commission to balance the US budget will deliver its final deficit-cutting plan on Wednesday but delay a vote until Friday, reflecting sharp divisions within the bi-partisan panel.
The United States Marine Corps want to spend billions of dollars on a new amphibious landing craft, budget cutters in Washington say that’s simply too much money for a vehicle that Marines may never ride into battle.
The National Flood Insurance Program is one big hurricane away from costing U.S. taxpayers billions of dollars. Experts say unless Congress makes some much needed changes to the program, taxpayers will find themselves footing the bill for another major disaster.
If you grow peanuts in this country, the government will pay you to keep them in storage—instead of selling them—if the price of peanuts falls below a certain target and the farmers decide to forfeit their crop.
Americans are skeptical that the mid-term elections will produce much change in Washington—and one reason is their own resistance to deep cuts in federal spending and deficits.
American businesses that import Chinese goods face higher prices, but exporters are predicting sales growth. The NYT reports.
Voters who demanded Washington rein in the nation's spiraling debt are getting a message from President Obama and his deficit commission: It'll hurt.
Share your opinion in today's poll.
When stumping on the campaign trail, the nation's new slate of governors could afford to make sweeping but vague promises about how they'd solve their states' massive looming budget deficits.
CNBC gives cutting-edge coverage of the 2010 midterm elections, with analysis that impacts people on both Wall Street and Main Street. Here is the latest analysis from reporters on the front lines.