Congress, Budget | featured news

Wednesday morning, President Barack Obama became the first Democratic president ever to propose cutting Social Security. Democrats spend so much time defending the president, it is easy to forget that even the most beloved presidents make mistakes and missteps. His new budget, which proposes a new method of calculating inflation increases in Social Security payments, is a doozy.

South Carolina Senator Lindsey Graham on Sunday became the first prominent Republican to publicly praise, however lukewarmly, the budget proposal the White House outlined last week. Graham said that while he believes President Barack Obama's plan is overall bad for the economy, "there are nuggets of his budget that I think are optimistic," and that could set the stage for a broad bargain to put the nation's finances on a stronger footing. He was speaking on NBC's "Meet the Press" program.

Republicans are ready to ram through the House an election-year, $3.5 trillion budget that showcases their deficit-cutting plan for revamping Medicare and slicing everything from food stamps to transportation while rejecting President Barack Obama's call to raise taxes on the rich....

President Obama wants more control over the country's budget, and plans to ask Congress for it this week.

Treasury Secretary Tim Geithner says Congress can recoup "outrageous" bonuses for AIG employees through a new bank fee in President Barack Obama's proposed budget.

Obama heads to Congress to sell his massive budget proposal to skeptical lawmakers.

As a spending bill loaded with pork makes its way through Congress, President Obama is getting pushback from members of his own party who are questioning his vow to end wasteful spending.