It’s tempting to call for a pox on both political parties in the deficit debate, but the fact is that President Barack Obama has been willing to give a lot to get an increase in the debt ceiling. His original proposal -- from which he now seems to be pulling back -- called for $2 in spending cuts for every dollar in increased revenue.
California is moving to pay down debt and boost reserves after an economic rebound left it with the biggest surplus in more than a decade. Hawaii may increase spending on education. Officials in Florida, New York, Minnesota and Wisconsin are considering tax cuts.
The ranks of poor Americans remained at a record high number last year, even after government-aid programs such as food stamps, housing vouchers and heating subsidies were included, the U.S. Census Bureau said today.