Content Tagged As deficit

3 years 3 weeks ago

Deficit-cutting panel looking at benefits, taxes

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...

3 years 7 months ago

Experts in Colo. debate fed budget woes in forum

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...

3 years 11 months ago

Colo amasses $3.7 bil in unpaid obligations

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...

4 years 1 week ago

U.S. Chamber likes budget cutting ideas

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...

4 years 1 month ago

Government to report on $1 trillion-plus deficit

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...

4 years 1 month ago

Kids with ADHD more likely to have missing DNA

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...

4 years 2 months ago

GOP attacks Obama jobs program

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...

4 years 3 months ago

2010 budget red ink: $1.3 trillion

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...

4 years 5 months ago

Colorado faces more red ink

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...

4 years 5 months ago

VP Biden says stimulus is working

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."...

4 years 9 months ago

President sets up deficit panel

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...

4 years 9 months ago

Colorado lawmakers approve fuel tax

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...

4 years 9 months ago

Deficit at $1.35 trillion as Obama eyes freeze

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...

4 years 10 months ago

Colorado tax hikes coming

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...

4 years 11 months ago

President defending his handling of the economy

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...

5 years 1 month ago

Fed boss says US should cut budget deficit

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...

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