Federal Deficit Hits Record $1.42 trillion

Staff / Truthdig Oct 17, 2009 If you thought last year's federal budget deficit was pretty big, you were right -- and it's three times as big now! Thanks to the magic of the recession, as well as the government's attempts to rescue various sectors of the economy (and throw money at others, or so it appeared), the deficit for the 12 months ending last month was a whopping $1.42 trillion. Dig deeper ( 1 Min. Read )

Why Obama Must Spend More

Joe Conason / Truthdig Oct 8, 2009 If the president and Congress don't come to the aid of workers, the political consequences will be severe, and deservedly so. Dig deeper ( 3 Min. Read )

Pesky National Debt Wiped Out by Faux Coup

Staff / Truthdig Aug 5, 2009 Should this ever actually happen, The Onion gets credit for its prescient mock-up of a hostile takeover of the American government by a militant, yet strangely familiar, enemy organization bent on completely obliterating the ever-increasing US debt. Dig deeper ( 1 Min. Read )

Read My Lips: We Need to Raise Taxes

Ruth Marcus / Truthdig Aug 5, 2009 Does President Obama care about passing health care reform that truly gets costs under control and getting the nation's fiscal house in order or does he care more about getting re-elected? Dig deeper ( 3 Min. Read )

White House: No Tax Hikes for Middle Class

Staff / Truthdig Aug 4, 2009 On Monday, after two of President Obama's economic sidekicks, Treasury Secretary Timothy Geithner and National Economic Council Director Lawrence Summers, made noises over the weekend about the possibility that middle-class Americans may pay higher taxes in the near future, the White House went into damage control mode. Dig deeper ( 1 Min. Read )

U.S. Budget Deficit Climbs to Over $1 Trillion

Staff / Truthdig Jul 14, 2009 America's spend-a-thon has brought some inevitable consequences, not the least being that we now are looking at a federal budget deficit of more than $1 trillion for the first time ever, and that number is projected to nearly double by October. Dig deeper ( 1 Min. Read )

Deficit Could Be Obama’s Achilles’ Heel

Staff / Truthdig Jun 19, 2009 President Obama once said the deficit "keeps me awake at night." He's not alone. Three recent polls show that while Obama's approval ratings remain high, most Americans are preoccupied with the deficit and many question about whether the president is willing and able to rein in spending. Dig deeper ( 1 Min. Read )

Hannity and Ventura Step Into the Ring

Staff / Truthdig May 19, 2009 Fox News gasbag Sean Hannity and former Minnesota Gov. Jesse Ventura tackle the state of our nation before and after Bush. Watch them finger-point, talk over each other and play the deficit blame game in their debate on Monday. Dig deeper ( 1 Min. Read )

Senate Gives Budget Plan the Go-Ahead

Staff / Truthdig Apr 3, 2009 Although the congressional GOP contingent wanted nothing to do with it, President Barack Obama's $3.53 trillion budget package made the Senate cut on Thursday evening, passing with a 55-43 vote. Dig deeper ( 1 Min. Read )

Daring to Utter the T Word

E.J. Dionne Jr. / Truthdig Mar 26, 2009 The most significant moment of Obama's news conference concerned taxes: his defense of proposed limits on the benefits that the well-off get for their charitable contributions and mortgage payments. Dig deeper ( 3 Min. Read )

Budget Deficit Hits $1.8 Trilly

Staff / Truthdig Mar 20, 2009 The current year's federal budget deficit, according to congressional economists, will top $1.8 trillion, the biggest ever by far. And their projection for the fiscal 2010 budget shortfall is tickling $1.4 trillion, putting both estimates much higher than they were in forecasts back in January. Dig deeper ( 1 Min. Read )

Obama Pushes His Budget Plan

Staff / Truthdig Mar 1, 2009 In his weekly address, President Barack Obama makes the case for his proposed budget scheme, arguing that while it might rankle the likes of Washington lobbyists, it will deliver on the promises he made during his campaign. Dig deeper ( 1 Min. Read )