Bob Bixby

U.S. Deficit Narrows to $642 Billion in New CBO Estimate

The U.S. budget deficit will shrink by the end of fiscal 2013 to $642 billion, the smallest shortfall in five years, according to the nonpartisan Congressional Budget Office.

Obama’s Medicare Cost-Control Plan Relies on Unsure Steps

President Barack Obama argues that Republican Mitt Romney’s tax-cut proposals don’t add up, saying they rely on unproven assumptions to show they wouldn’t add to the federal deficit.

Grand Bargain Taxes, Entitlements Cuts Await Deal Makers

Some of the elements of a budgetary “grand bargain” will be on the table today. Merging them is the biggest political challenge in the U.S. Capitol.

Congress Budget Cuts Damage U.S. Economy Without Aiding Outlook

President Barack Obama and congressional Republicans have stumbled into an approach to deficit reduction that inflicts the pain of economic austerity without the gain of addressing the long-term budget gap.

Romney Plan to End Deficit Hits Poor as Well as Park Rangers

Mitt Romney’s promise to balance the budget without higher taxes while protecting retirees and spending more on defense means the rest of government -- such as meat inspections, food stamps, national parks and affordable- housing aid -- would need to be cut by more than a quarter.

Obama Plan Pares Deficit as Romney’s End Lacks Means

President Barack Obama proposes to address the nation’s fiscal challenges through tax increases for top earners, smaller budget cuts than his Republican opponents demand and a silence beyond the next 10 years while deficits and debt mount.

Rubio’s Demands Show Tea Party May Not Bend on Raising U.S. Debt Limit

Few demand as much for a vote to raise the U.S. debt limit as Tea Party favorite Marco Rubio .

‘Generational War’ Seen as U.S. Debt Panel May Target Children’s Programs

The elderly will likely be the most vulnerable Americans in Washington’s future budget fights. Right now, their grandchildren may be among the biggest casualties.

Ryan Spending Plan Makes Republicans Pre-Sputnik

House Republicans expect to adopt a budget resolution this week that envisions eliminating most federal debt by cutting government’s share of the economy to a level not seen since 1951, before Medicare, Medicaid, the Environmental Protection Agency and the space program.

North Dakota Democrat Kent Conrad Won't Seek Another Term in U.S. Senate

Senate Budget Committee Chairman Kent Conrad of North Dakota, a leading deficit hawk who would have faced a tough re-election fight, announced today he won’t seek another term in 2012.

"It could throw cold water on efforts to get some sort of grand bargain going, though I'm not sure any cold water was needed to put out that fire."

- Bob Bixby on May 14, 2013

Washington

Congressional Budget Office

Barack Obama

GM Says New V-6 Pickups Fuel Efficiency Exceed Ford’s

U.S. Stocks Fluctuate as Investors Await Fed Comments

Most European Stocks Decline Before Fed as Nordea Slides

Dollar Weakens on Fed Bond-Purchase Speculation; Krona Advances

Dollar, Treasuries Fall as Stocks Fluctuate Before Fed