Federal budget

Former Senator Phil Gramm (R-TX) first used 'sequester' in a budget bill during the Reagan years. He still likes the term and the idea.

Throughout the debate about the deficits and debt, you've probably heard a certain metaphor: One that compares the nation to a household. Well, that metaphor bothers one of the nation's leading economists, Robert Shiller of Yale University.

With the fiscal cliff looming, an all-star group of CEOs wants both parties to get serious about the deficit. The fix they're calling for will be tough for both parties to swallow.

Commentator Robert Reich says lawmakers need to apply the brakes on automatic spending cuts and tax increases set to go into effect at the end of the year or the U.S. may face a new recession.

The Social Security Trust Fund will run out of money three years earlier than previously thought in 2033. As for Medicare, that's still on track to run out of cash in 2024.

A new report from the General Services Administration's inspector general says government officials spent hundreds of thousands of taxpayer dollars on a training conference near Las Vegas -- and the money wasn't only going to binders and bag lunches.

We're less than six weeks away from tax day, and this year the IRS is gonna have to do more with less when it comes to processing all those returns. President Obama hopes to change that.

Do Americans agree with President Obama's latest budget proposal? Gallup's editor-in-chief Frank Newport explains what Americans want the government to cut and spend more money on.

In his new budget released today, President Obama said he wants Congress to let the Treasury Department use cheaper materials to mint our coins.

President Obama has published his multi-trillion-dollar budget. Despite it being an election year, Karen Shaw Petrou thinks we should take it seriously.