Federal Spending | featured news

President Obama on Tuesday proposed making "pay-as-you-go" rules for federal spending into law.

Responding to a challenge from President Obama, Republican leaders in the House of Representatives are offering up a roster of more than $23 billion in spending cuts over the next five years.

Committee OKs $20 million for brain injury treatment center for U.S. troops after supporters gave almost $100,000 in campaign ...

President Obama will propose $17 billion in spending cuts today, less than half of 1% of his budget, including cuts in weapons ...

President Barack Obama said on Saturday he would soon announce the elimination of dozens of wasteful or ineffective government programs as part of a broad effort to restore fiscal accountability to the federal budget.

There will be no tea-dumping in the Potomac River -- that's illegal -- but organizers of the national tea party tax protests say they plan to dump a million tea bags in Lafayette Square today to demonstrate displeasure at government spending and tax policies.

Protesters plan to place the tea bags on tarps and clean up afterward, an organizer said.

The tea, which will be delivered by truck, has been purchased online by people upset over recent government policy, said John Gauger, a spokesman for the grass-roots conservative group Reagan.org.

Federal Reserve Chairman Ben Bernanke on Tuesday urged bold action action to pull the economy out of a deepening slump, even if it means a surge in U.S. government debt.

Louisiana Gov. Bobby Jindal took a swipe at federal spending to monitor volcanoes in the GOP response to President Obama's address to Congress. That has the mayor of one city in the shadow of Mount St. Helens fuming. "Does the governor have a volcano in his backyard?" the mayor of Vancouver, Washington, said.