budget deficit News

budget deficit News From AOL News

Obama's Debt-Cutting Plan: Everything on the Table

WASHINGTON -- President Barack Obama, plunging into the rancorous struggle over America's mountainous debt, will draw sharp differences with Republicans Wednesday over how to conquer trillions of dollars in spending while somehow working out a compromise to raise some taxes and trim a cherished program like...

White House Seeking Deal in Budget Stalemate

WASHINGTON -- The White House said Tuesday it was still confident Republicans and Democrats could reach an agreement to fund the government through the end of the year and avoid a shutdown, while admitting frustration at the pace of negotiations. "We believe a deal is possible," White House spokesman Jay Carney told...

Providence, RI, Issues Pink Slips to All of Its Schoolteachers

Facing a budget crisis, the Providence, R.I., school district has issued dismissal notices to all 1,926 of its teachers, leading Providence Teachers Union President Steven Smith to compare the educational bombshell to Pearl Harbor. "This is beyond insane," Smith said, according to The Providence Journal. "Let's create the...

Protests Against Union-Busting State Bills Sweep Midwest

Protests against union-busting state bills are sweeping the Midwest today, with thousands packing the Capitol in Ohio, Indiana's House Democrats staging a walkout and Wisconsin Democrats remaining in hiding outside the state. In Indiana, Gov. Mitch Daniels signaled this afternoon that he was ready to drop the so-called...

Obama Official Says Budget Won't Be Pain-Free

WASHINGTON - President Barack Obama will send Congress on Monday a $3 trillion-plus budget for 2012 that promises $1.1 trillion in deficit reduction over the next decade by freezing many domestic programs for five years, trimming military spending and limiting tax deductions for the wealthy. Jacob Lew, the president's...