President has made innovation the centerpiece of his push to revive the American economy. He traveled to Silicon Valley Thursday to woo CEOs in the capital of American innovation.
Jacob Lew responded Thursday to a report that some senators are working on legislation that would trigger tax hikes and spending cuts if Congress fails to live within spending targets.
A proposal to raise the marginal tax on incomes over $15 million to 70 percent seems unrealistic to some, but under President Eisenhower, the highest marginal tax rate was 91 percent.
Social Security, Medicare not addressed in president's budget proposal, even though his budget commission did tackle Social Security.
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: