Truthdig - Tag - Federal Deficit

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Tag: Federal Deficit

artist in doing nothing (CC BY-SA 2.0)

As a share of national income, federal spending peaked during the Reagan administration; spending has increased only half as fast under President Obama as under President Bush; and declining revenues, not rising spending, accounts for the swelling federal deficit overseen by the Bush and Obama administrations.

Posted on May 31, 2013 READ MORE

AP/J. Scott Applewhite

Obama Submits Destructive, Unnecessary Budget Plan

The president is following through on his intention to abandon the welfare of elderly and disabled Americans in a budget deal that would cut $130 billion from programs like Social Security over the next 10 years, and that could starve the system in the long run.