October 27, 2011 7:43 PM
WASHINGTON (AP) - Rival deficit-cutting plans advanced by Republicans and Democrats on Congress' secretive supercommittee would mean both smaller-than-expected cost of living benefit increases for veterans and federal retirees as well as Social Security recipients - and bump up taxes for some individuals and families.
The changes would reduce... more »
October 14, 2011 6:00 AM
WASHINGTON (AP) - Today's the last day to suggest ways to trim the deficit to a special congressional panel that's supposed to find at least $1.2 trillion in spending cuts.
The so-called supercommittee was flooded with advice yesterday from members of Congress.
The majority of the suggestions were... more »
September 18, 2011 1:08 PM
WASHINGTON (AP) - The White House says President Barack Obama will present his own vision for deficit reduction tomorrow.
Obama's plan is expected to call for about $2 trillion in new deficit reduction measures. It is not expected to include all the compromises he reached with House Speaker John... more »
July 31, 2011 3:12 PM
WASHINGTON (AP) - Senate Republicans have blocked action on a Democratic approach to resolving the debt-ceiling crisis. It was a test vote largely unrelated to the talks between the White House and congressional leaders on a compromise that can clear both the House and Senate.
The Senate voted 50-49... more »
July 24, 2011 3:52 PM
WASHINGTON (AP) - House Speaker John Boehner is working on a plan to prevent the first government default in U.S. history. He hopes to have at least a framework of a deal ready this afternoon.
Boehner says if Democrats don't go along, Republicans will act alone. The government will... more »
May 16, 2011 8:16 PM
WASHINGTON (AP) - A new government report estimates that the big spending bill passed into law last month will cut the deficit by $122 billion over the next decade - less than half what senior lawmakers predicted.
Speaker John Boehner had touted the legislation as reducing the deficit by... more »
April 10, 2011 11:18 AM
DENVER (AP) - Ten candidates are running to be Denver's next mayor to deal with a $100 million budget deficit, an over-budget mass transportation project, and a police department under scrutiny.
The long list of candidates makes it almost certain that there will be a runoff between the top... more »
April 10, 2011 9:51 AM
WASHINGTON (AP) - A top White House political and economic adviser says President Obama will lay out new plans this week to reduce the federal deficit.
Obama adviser David Plouffe, speaking Sunday on NBC's "Meet the Press," says Obama plans to offer ideas for what Plouffe calls "long-term deficit... more »
April 9, 2011 6:04 PM
DENVER (AP) - Bridging the political divide dominated the discussion at a Colorado forum on taming the federal deficit.
The partisan back-and-forth in the nation's capital prevented the two senators who assembled the panel from attending their own event in person. Democratic Sens. Mark Udall and Michael Bennet were... more »
March 19, 2011 8:04 PM
Legislators have known since heading to the Capitol in January that they'll be looking at a lot of bills, but their big job is making sure the dollars and cents add up.
"The most pressing issue for this entire session is the budget," says Rep. Bob Gardner, (R) House... more »
December 5, 2010 5:03 PM
DENVER (AP) - In its struggles to deliver balanced state budgets over the past 10 years, Colorado has amassed $3.7 billion in obligations it may never pay.
That sum includes severance taxes taken from municipalities, funds for tourism promotion and waste tire cleanup, and prison and school bus costs... more »
November 11, 2010 2:42 PM
WASHINGTON (AP) - There's finally some praise for the deficit-cutting ideas that were put forward by the leaders of President Barack Obama's bipartisan panel.
The U.S. Chamber of Commerce says it agrees that "any solution will require commitment and sacrifice on both the spending and revenue fronts." But the... more »
October 15, 2010 8:10 AM
Another $1 trillion budget deficit could give administration critics more to talk about just ahead of the November midterm election.
The Obama administration is set to report Friday that the federal budget deficit exceeded $1 trillion for the second straight year.
The Congressional Budget Office is projecting that... more »
September 30, 2010 8:31 AM
Researchers say a new study provides the first evidence that attention deficit hyperactivity disorder is genetic. The study says ADHD kids are twice as likely to have missing or extra chromosomes than other children.
British researchers focused on a sequence of genes linked to brain development that has previously... more »
September 21, 2010 7:31 PM
The preliminary outlook for El Paso County's 2011 budget looks positive, but the years that follow don't look as rosy.
El Paso County Budget Officer Nicola Sapp presented a first glimpse at the 2011 budget Tuesday at the Board of County Commissioners meeting. Sales and use tax revenues are... more »
September 13, 2010 2:21 PM
WASHINGTON (AP) - The federal government is on track to record the second-highest deficit of all time with one month left in the budget year.
The Treasury Department says that through August, the deficit totaled $1.26 trillion. That's down 8.1 percent from the same period in 2009, when the... more »
September 7, 2010 8:28 AM
GOP leaders are blasting President Barack Obama's long-term jobs proposal, saying the $50 billion plan would only raise federal spending that's already in excess.
Obama unveiled the plan Monday at a Labor Day speech in Milwaukee, proposing the billions be spent on roads, railways and runways.
Administration officials... more »
August 19, 2010 10:32 AM
Congress' budget analysts are estimating that this year's federal deficit will exceed $1.3 trillion, slightly below last year's total but still a huge ocean of red ink.
The nonpartisan Congressional Budget Office said the enormous shortfall is a result of the still struggling economy, which has meant lower federal... more »
July 13, 2010 2:10 PM
The federal deficit has topped $1 trillion with three months still to go in the current budget year, showing the continued impact of a deep recession on the government's finances.
The Treasury Department says that through the first nine months of this budget year, the deficit totals $1 trillion,... more »
June 21, 2010 1:08 PM
Colorado Gov. Bill Ritter is going to be getting out the budget ax. State budget forecasters told lawmakers on Monday that there are insufficient funds to pay the bills for this fiscal year and the new fiscal year beginning July 1.
According to the governor's budget office, Colorado will... more »
June 17, 2010 2:45 PM
Vice President Joe Biden says the economic recovery act deserves credit for creating or saving upward of 2.8 million jobs so far, with thousands more projects coming soon in a busy summer of construction.
At the White House Thursday, the vice president told reporters: "Folks, the act is working."... more »
June 3, 2010 7:03 PM
The California State Assembly has passed a bill requiring legislative approval before Gov. Arnold Schwarzenegger can sell two dozen state office buildings.
The bill passed 58-0 Thursday on a bipartisan vote. It also would require the administration to perform a 50-year cost-benefit analysis of the plan to sell state-owned... more »
May 28, 2010 8:17 AM
Democratic leaders in the House are tossing aside billions of dollars in aid to states and health insurance subsidies for laid-off workers as they look for ways to scale back the cost of a catchall spending bill.
Driving the cost-cutting moves are House Democrats worried about budget deficits ahead... more »
May 27, 2010 8:15 AM
Democrats are struggling to extend jobless benefits before they go on vacation next week.
Some lawmakers are concerned they'll be hammered over deficit spending even though the money is for the unemployed. House leaders hope to vote today on a bill that would extend the benefits through November, but... more »
May 12, 2010 8:58 AM
The U.S. trade deficit rose to a 15-month high as rising oil prices pushed crude oil imports to the highest level since the fall of 2008, offsetting another strong gain in exports. The larger deficit is evidence of a rebounding U.S. economy.
The Commerce Department says the trade deficit... more »
April 27, 2010 1:10 PM
President Barack Obama is refusing to rule out anything -- including tax increases -- in the fight against "exploding deficits."
Obama says he wants a bipartisan fiscal commission to be free to do its work.
The president told reporters Tuesday that neither he nor the commission members would... more »
April 27, 2010 10:29 AM
Federal Reserve Chairman Ben Bernanke says failing to curb federal budget deficits would do "great damage" to the U.S. economy in the long run. Bernanke once again urges the White House and Congress to come up with a credible plan to reduce the nation's red ink, which hit a record... more »
February 28, 2010 12:50 AM
Lawmakers will finalize some $240 million in cuts to K-12 education next week leaving local districts short on revenue for the 2010-2011 school year.
In Hanover, near the El Paso/Pueblo county line, the school board has already voted to close one of its two elementary schools.
The District... more »
February 18, 2010 10:27 AM
President Barack Obama has announced a new bipartisan commission to take on deficit-reducing responsibilities that Congress has been reluctant to embrace.
The move came a day after he touted the $862 billion economic stimulus program. Obama's administration has been taking an increasing amount of criticism for record-high deficits, and... more »
February 1, 2010 6:37 PM
The Colorado House has given tentative approval to a bill that would eliminate a tax exemption for energy used in manufacturing, transportation and agriculture.
Gov. Bill Ritter proposed going after the tax breaks after the state was forced to cut $2 billion from this year's budget and another $1... more »
February 1, 2010 9:17 AM
President Barack Obama has sent Congress a $3.83 trillion budget that would pour more money into the fight against unemployment and try to reduce a projected record deficit this year. The plan would boost taxes on the wealthy and freeze spending for a wide swath of government programs. The deficit... more »
January 30, 2010 12:17 PM
President Barack Obama says trimming budget deficits is as important as creating jobs. In his weekend radio and Internet address, Obama says steps to rein in spending include a rule requiring that spending or tax cuts be offset by cuts to other programs or tax increases. There's also a freeze... more »
January 26, 2010 12:25 PM
The University of Colorado in Boulder is suspending a course requirement to save money.
CU is abandoning its "critical thinking" course requirement for some undergraduates. The university says it could save $200,000 a year by suspending the requirement for students in the College of Arts and Sciences.
Currently... more »
January 26, 2010 11:16 AM
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.
The Congressional Budget Office report predicts a sluggish economic recovery and continued high deficits that present twin political problems for President Barack Obama and... more »
January 21, 2010 9:39 AM
You'll soon be paying higher taxes for things like computer software, candy and soda. Right now, those things are exempted from taxes in Colorado--but that's about to end.
Gov. Bill Ritter previously announced plans to suspend or eliminate 13 tax exemptions and credits starting in July to help next... more »
December 4, 2009 8:43 AM
With the nation's unemployment rate still running at 10 percent, President Barack Obama takes his defense of his handling of the economy on the road Friday. Despite limited options due to big budget deficits, he's warming to the possibility of a job-boosting bill. Obama has scheduled appearances Friday in Pennsylvania... more »
October 19, 2009 12:37 PM
Federal Reserve Chairman Ben Bernanke is calling for the United States to eventually whittle down record-high budget deficits and for countries like China to get their consumers to spend more, moves that would help combat skewed global trade and investment flows that contributed to the financial crisis. Bernanke's remarks to... more »
October 9, 2009 10:00 AM
Many state offices are closed again for another furlough day to help save money. Driver's license offices will be closed Friday as well as state history museums. State parks will be open but their visitor centers won't be. State troopers as well as workers who process unemployment benefits will still... more »
September 16, 2009 8:59 AM
The deficit in the broadest measure of foreign trade shrank in the spring to the lowest level in relation to the total economy in 18 years, another dramatic sign of how much the recession had reduced America's appetite for foreign goods. The Commerce Department said Wednesday the deficit in the... more »