The proposal by the 'Gang of Six' senators Tuesday draws on ideas from the deficit commission. The middle-of-the-road plan will have to overcome partisan concerns and a lack of time.
The Heritage Foundation budget plan shifts Social Security benefits to a needs-based insurance program. It ditches Obamacare and changes Medicare to a 'premium support plan.' And it simplifies the tax code.
Michele Bachmann wants to get rid of taxes on capital gains, which would take certain millionaires off of income tax rolls
President Obama's proposed $3.7 trillion dollar federal government budget works some economic magic, from disappearing programs to mystery funding sources. Here’s a look at five key head-scratchers in the 2012 budget:
Obama's $3.7 trillion budget proposal would produce a $1.1 trillion deficit for fiscal 2012 – less than this year’s projected deficit of $1.65 trillion. Republicans, predictably, call for more spending cuts.
The CBO predicts a deficit of $1.5 trillion for 2011, but then steadily falling amounts through 2014. Good news? Not really. The CBO had to make assumptions about US policies its officials seem to have little faith will be implemented.
House rules now require that new spending be matched by new spending cuts. What will this actually mean? Not as much as you might think.