President Obama’s National Commission on Fiscal Responsibility and Reform couldn’t get enough of its members to approve its own recommendations or to find the 14 votes needed to send its proposal to Congress. But don’t count ou…
The U.S. must act to rein in its massive budget deficits or face the risk of a bond market crisis, former Fed Chairman Alan Greenspan said Sunday. If deficits begin to frighten the bond market, interest rates will rise, undermi…
The federal deficit will amount to the equivalent of approximately 10% of U.S. gross domestic product for the fiscal year, which ended Sept. 30, according to a Treasury official. That’s about the same percentage as the previous…