federal deficit

The stock market was not exactly surprised that the so-called supercommittee failed to reach a deal to cut the federal deficit. But on Monday, investors sold big.

July 18 -- Robert Bixby, executive director of the Concord Coalition, talks about congressional negotiations over raising the U.S. debt limit and reducing the federal deficit.

With the federal deficit soaring, annual interest payments on debt will reach $916 billion by the end of the decade.

Although everyone can see the train wreck coming, lawmakers seem powerless to stop it.

The federal deficit was down 8 percent for the first half of fiscal 2010 over the same period a year ago, Obama administration officials say.

The latest congressional budget estimates out Tuesday predict a $1.35 trillion deficit for this year as the economy continues to slowly recover from the recession.

Though details are sketchy, the fee would recover money put up to bail out the banks, a rescue that has contributed to the largest deficit since World War II.

Barack Obama plans to announce that he wants to focus extensively on cutting the federal deficit in 2010. Lets see then, he needs to veto government take over of health care, cap and trade.

He must lower taxes on everyone. Basically he needs to do the exact opposite of what he is now doing and if you believe he will do that you got some bad drugs.

The Associated Press 1 comment Graphic shows federal debt held by public as percentage of GDP What is $1.42 trillion?

It's more than the total national debt for the first 200 years of the Republic, more than the entire economy of India, almost as much as Canada's, and more than $4,700 for every man, woman and child in the United States.

The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the financial system and jump-start the economy.

The federal deficit surged higher into record territory in August, hitting $1.38 trillion with one month left in the budget year.