Economy, Spending Cuts | featured news

President Obama said Friday Congress has a "unique opportunity to do something big" and stabilize the U.S. economy for decades by cutting deficits ...

Democratic leaders called on Wednesday for new spending and tax cuts to boost the sluggish U.S. economy, setting up a fresh hurdle for bipartisan efforts to head off a government debt default this summer.

President Barack Obama, two years into a presidency that increased spending to prime a weak economy, is turning his attention to the nation's crushing debt and trying to counter a Republican anti-deficit plan with a framework of his own that tackles politically sensitive health care programs while also increasing taxes....

President Barack Obama is getting a bump in his approval ratings from an improving U.S. economy but Americans want him to focus on reducing U.S. debt and spending, a Reuters/Ipsos poll showed on Wednesday.

Cut spending, raise taxes and fees, and accept billions of dollars from Congress. That's been the formula for states trying to survive the worst economy since the 1930s.

Britain outlined the sharpest cuts to public spending since World War II on Wednesday.

Leaders' dilemma is how to cut spending without undermining the economies they seek to sustain.