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Greek Deficit Shoots Up; Citigroup Trader Probed for False Speculation

ATHENS, Greece -- This country's 2010 deficit shot up significantly more than anticipated, European Union data revealed today, signaling ailing attempts by the government in Athens to rein in the country's runaway finances and avoid a painful debt makeover. At 10.5 percent of the country's gross domestic product -- well...

Obama's Deficit Plans Run Into Economic Reality

LOS ANGELES -- President Barack Obama headed west to sell his big picture deficit-reduction plan. But many people are waiting for a quick fix to their own economic problems caused chiefly by persistent unemployment and the crippled housing market. Audiences in California and Nevada understood why it's important to get a...

Geithner Shows Confidence on Reaching Deficit Deal

WASHINGTON -- Treasury Secretary Timothy Geithner on Tuesday reassured investors that the White House and Republican lawmakers will reach a deal to control the nation's finances, downplaying an unprecedented warning that the government risks losing its coveted debt rating if it fails to do so. In an interview on CNBC,...

In Budget Plan, Obama Seeks Cuts and Higher Taxes

WASHINGTON -- Forcefully rejecting Republican budget-cutting plans, President Barack Obama on Wednesday proposed lowering the nation's future deficits by $4 trillion over a dozen years and vowed he would not allow benefit cuts for the poor and the elderly to pay for tax breaks for the rich. "That's not right and it's not...