Complete coverage on

Federal Budget

Latest Stories

Obama administration releases earmark funds for infrastructure jobsupdated: Fri Aug 17 2012 18:42:00

In an effort to create more jobs and improve transportation, the Obama administration announced a new "Use It or Lose It" program Friday, making nearly $500 million in unspent earmarks available for states to use on so-called "shovel ready" infrastructure projects.

Paul Ryan's budget balancing actupdated: Wed Aug 15 2012 15:45:00

When Paul Ryan struggled to explain a budget-balancing timeline under Mitt Romney, he highlighted the difficulty of trying to run a substantive campaign without being too specific.

Ryan's first interview as VP candidateupdated: Wed Aug 15 2012 15:45:00

Republican vice presidential candidate Paul Ryan gives his first one-on-one interview since becoming the nominee.

Senate's all-day budget debate dominated by politics updated: Wed May 16 2012 20:01:00

It had all the appearances of a serious-minded debate: Republicans insisted the Senate spend all day Wednesday arguing which party had better budget proposals to fix the economy.

Take politics out of tariff rulesupdated: Wed Apr 25 2012 09:12:00

If you have lived a happy, normal, American life, you have probably never heard of something so tedious and alien as a Miscellaneous Tariff Bill. I envy you. But strange as it sounds, the obscure MTB is at the heart of a very small -- but very significant -- fight for American freedom.

Report: Dramatic drop in earmarks' number, costupdated: Tue Apr 17 2012 10:00:00

Well over a year after Congress voluntarily imposed a ban on pork barrel spending, the number and cost of earmarks have dropped dramatically, a report said Tuesday -- but the snouts are not out of the trough altogether.

House passes GOP budgetupdated: Thu Mar 29 2012 17:41:00

The House of Representatives passes the GOP leadership's 2013 budget plan 228-191.

Why the U.S. may never have a balanced budget againupdated: Thu Mar 29 2012 15:43:00

The House has passed the Republican budget plan submitted by Rep. Paul Ryan, but some budget experts believe that he federal government is so far in the red that it may not balance the budget again in our lifetime.

Rep. Paul Ryan on GOP budget planupdated: Thu Mar 29 2012 15:43:00

CNN's Erin Burnett talks to Wisconsin Congressman Paul Ryan about the 2013 House GOP budget plan.

Romney jabs at Santorum's record in CNN debateupdated: Thu Feb 23 2012 12:08:00

Rick Santorum found that his position at the top of polls made him the biggest target in Wednesday's CNN Republican presidential debate, possibly the last of the GOP primary and caucus campaign.

Highlights from CNN debate in Arizonaupdated: Thu Feb 23 2012 12:08:00

Rick Santorum leads polls as GOP candidates take to the stage in the CNN debate in Arizona.

CNNMoney: Obama budget fails to tackle entitlementsupdated: Tue Feb 14 2012 05:20:00

Independent deficit hawks -- as opposed to the political ones seeking votes -- gave mixed reviews to President Obama's 2013 budget proposal.

GOP: Obama budget 'debt on arrival'updated: Mon Feb 13 2012 15:48:00

Senate Republicans hold a briefing and denounce the president's $3.8 trillion budget.

Analysis: Politics trumps policy in Obama budgetupdated: Mon Feb 13 2012 15:48:00

A piece of advice: If you're worried about President Barack Obama's budget, find something else to fret over. The president's blueprint has about as much chance of becoming law as yours. It's all about election year 2012, not fiscal year 2013.

President Obama unveils $3.8 trillion budgetupdated: Mon Feb 13 2012 13:19:00

President Obama unveiled a $3.8 trillion budget request Monday that hikes taxes on the rich, spends new money on infrastructure and education, but does little to reform the entitlement programs that pose the biggest long-term threat to the federal budget.

Political clashes coming over budget, payroll tax cutupdated: Sun Feb 12 2012 12:34:00

President Barack Obama's new chief of staff on Sunday stopped short of predicting Congress would agree to extend the payroll tax cut for the rest of 2012.

Did Obama fulfill transparency promise?updated: Tue Jan 24 2012 18:09:00

Tom Foreman explores whether President Obama kept his 2011 promise to change the way Washington does business.

CNNMoney: Obama budget pick faces Capitol Hill challengeupdated: Wed Jan 11 2012 09:28:00

With budget chief Jack Lew stepping up to be President Obama's new chief of staff, Washington is abuzz over who -- if anyone -- will be tapped as the president's new budget director.

Romney camp rips Santorum on spendingupdated: Fri Jan 06 2012 17:20:00

GOP frontrunner Mitt Romney's campaign stepped up its criticism of conservative challenger Rick Santorum on Friday, continuing to hit the former Pennsylvania senator on his spending record while in Congress.

McCain makes another campaign flubupdated: Fri Jan 06 2012 17:20:00

Sen. John McCain mistakenly mentions Romney's name when he meant to say "Gingrich" at a rally in South Carolina.

CNNMoney: GOP 2012: What they (wouldn't) cutupdated: Thu Jan 05 2012 09:24:00

For all their differences, the 2012 Republican contenders have at least one thing in common: They all want to cut spending.

A new political reality with Iowa caucuses updated: Fri Dec 30 2011 05:49:00

From Mitt Romney's apparent growing confidence to Newt Gingrich's fading expectations, to Rick Santorum's coming under increased scrutiny, there's a new political reality in the Hawkeye State with just four days to go until the Iowa caucuses.

Fearing earmark creep, senators propose new banupdated: Wed Nov 30 2011 19:47:00

A year after Congress voluntarily agreed to give up earmarks -- pork barrel spending projects critics say cost too much and may have an outsized influence on some lawmakers -- the special-interest provisions have crept slowly back into legislation, two senators warned on Wednesday.

Battle themes emerge for deficit reduction fight in Congressupdated: Mon Sep 19 2011 07:31:00

There is a war going on in Washington, and the politicians waging it can't even agree on what kind it is.

Lower taxes for the rich: Is that fair?updated: Mon Sep 19 2011 07:31:00

GOP Sen. Lindsey Graham says President Obama's plan for a new tax rate for millionaires amounts to "class warfare."

Deficit commission gets a tighter deadline than expectedupdated: Tue Sep 13 2011 17:22:00

A special congressional committee charged with forging a deficit reduction deal by Thanksgiving has to make final decisions weeks earlier in order to have time to analyze the plan's cost and draft it into legislation, the head of the Congressional Budget Office said Tuesday.

Special deficit committee holds its first meetingupdated: Thu Sep 08 2011 16:46:00

Differing partisan perspectives were on display Thursday as a special congressional committee set up under last month's debt-ceiling agreement held its first meeting to begin forging a long-term deficit reduction plan.

Flight failure won't stop 'mad scientists'updated: Fri Aug 26 2011 11:55:00

Last week, the Defense Advanced Research Projects Agency, or DARPA, attempted the impossible. It launched an unmanned aircraft from a rocket at 20 times the speed of sound with the goal of controlling its flight through the atmosphere for about 20 minutes -- long enough to glide from the California coast to the Kwajalein atoll in the Pacific.

Obama hits optimistic note at end of Midwest swingupdated: Wed Aug 17 2011 18:54:00

President Barack Obama expressed confidence Wednesday that America will ultimately overcome its current economic woes but once again blamed a dysfunctional, excessively partisan political system for hampering recovery efforts.

Pentagon probes possible conflict of interest by research groupupdated: Tue Aug 16 2011 18:21:00

The military research wing that last week launched a hypersonic aircraft test is being investigated after questions were raised about potential conflicts of interest in awarding lucrative contracts.

CNNMoney: Moody's: Why we're not downgrading U.S. yetupdated: Mon Aug 08 2011 07:02:00

Moody's Investors Service explained Monday why it was sticking with its triple-A bond rating and negative outlook for the United States, setting itself apart from Standard & Poor's, which downgraded the U.S. last week.

Geithner: Default is 'unthinkable'updated: Sun Jul 24 2011 23:06:00

Treasury Secretary Tim Geithner says that President Obama and House Speaker John Boehner are still talking.

Debt-ceiling talks continue as sides pursue dueling plansupdated: Sun Jul 24 2011 23:06:00

After expectations were raised of a possible deal earlier Sunday, weekend talks to resolve the nation's debt-ceiling crisis appeared to reach a new stalemate, as the sides pursued separate plans.

CNNMoney: The problem with 'Cut, Cap and Balance'updated: Tue Jul 19 2011 21:02:00

It sounds so ... sensible. Force Congress to cut spending, cap it going forward, and balance the damn budget. Seriously, in an age of fiscal crazy, what's not to love?

WH Budget chief: Time to act is nowupdated: Mon Jul 18 2011 07:36:00

White House Budget Director Jacob Lew says it's progress that both sides agree that the debt ceiling must be raised.

Latest debt talks end with no deal; Obama wants progress reportupdated: Thu Jul 14 2011 22:16:00

After a fifth meeting in five days failed Thursday to achieve a deficit reduction deal, President Barack Obama told top congressional leaders to reach an agreement on the path forward by early Saturday, officials said.

WH: 'U.S. does not default'updated: Thu Jul 14 2011 22:16:00

White House Spokesman Jay Carney says a deal will be reached and the president is adamant the US will not default on debt obligations.

Official: Obama and Boehner met for deficit talks over the weekendupdated: Wed Jul 06 2011 10:26:00

President Barack Obama and House Speaker John Boehner met over the weekend as part of ongoing negotiations on an agreement to reduce the country's deficit, a Republican official told CNN late Tuesday.

Obama invites congressional leaders for deficit talks this weekupdated: Tue Jul 05 2011 18:03:00

President Barack Obama said Tuesday that he invited Democratic and Republican leaders from both chambers of Congress to the White House for a meeting Thursday to discuss deficit reduction and the need to raise the federal debt ceiling.

Mysterious fund allows Congress to spend freely, despite earmark banupdated: Sat May 28 2011 19:54:00

The defense bill that just passed the House of Representatives includes a back-door fund that lets individual members of Congress funnel millions of dollars into projects of their choosing.

Politics: Loophole for earmarks?updated: Sat May 28 2011 19:54:00

Has Congress found a way to get around their self-imposed ban on earmarks? CNN's Dana Bash reports.

CNNMoney: Obama budget chief optimistic on debt dealupdated: Mon May 23 2011 22:13:00

A bipartisan group of negotiators is "making progress" toward finding a way to both raise the debt ceiling and whittle down budget deficits, President Obama's top budget chief said Monday.

CNNMoney: Sorry, GOP: Tax revenue needs to go upupdated: Mon May 09 2011 19:50:00

The United States has a spending problem, not a revenue problem.

Key senator: Revenue increase from tax reform is OKupdated: Mon Apr 25 2011 11:21:00

A leading Senate conservative said Sunday he can accept tax reform that increases overall tax revenue as part of a comprehensive deficit reduction plan.

CNNMoney: Deficit hawks: Not too bad, Mr. Presidentupdated: Thu Apr 14 2011 05:44:00

He may have taken his time to join the brewing debate about how to reduce long-term U.S. debt. But President Obama got some kudos from deficit hawks for the broad debt reduction framework he laid out on Wednesday.

CNNMoney: Obama lays out plan for cutting Medicare, Medicaidupdated: Wed Apr 13 2011 18:28:00

President Obama unveiled a plan Wednesday to cut Medicare and Medicaid costs, but without slashing benefits for seniors and the needy.

CNNMoney: Earmarks are dead. Long live earmarksupdated: Thu Apr 07 2011 11:31:00

Steve Ellis is Vice President at Taxpayers for Common Sense, a nonpartisan budget watchdog.

CNNMoney: GOP takes big swipe at federal budgetupdated: Tue Apr 05 2011 13:00:00

Cut spending by $6 trillion over the next decade. Lower the highest tax rate to 25%. Radically overhaul Medicare and Medicaid.

CNNMoney: House GOP: $4 trillion in cutsupdated: Mon Apr 04 2011 08:21:00

This week may -- just may -- mark the end of the often crazed debate about how much spending should be cut from the federal budget over the next six months.

House budget chairman to propose Medicare, Medicaid changesupdated: Sun Apr 03 2011 11:54:00

House Budget Chairman Paul Ryan said Sunday he will unveil a Republican budget for 2012 this week that proposes dramatic changes to Medicare, Medicaid and other political lightning rods.

House GOP budget to call for big changes to Medicare, Medicaidupdated: Sat Apr 02 2011 17:24:00

House Budget Chairman Paul Ryan, R-Wisconsin, will unveil a highly anticipated 2012 Republican budget next week that proposes dramatic changes to political lightning rods: entitlements.

CNNMoney: Balanced budget amendment: 'Irresponsible'updated: Tue Mar 29 2011 12:02:00

In a time of record debt, it sure sounds prudent: Amend the U.S. Constitution to force Congress to balance the budget every year. In reality, it may be anything but.

CNNMoney: Obama's real deficit problem: His tax cutsupdated: Sat Mar 19 2011 08:28:00

President Obama takes a lot of heat from Republicans for supposedly being a big spender. But when it comes to future deficits, the president's problem isn't spending. It's the tax cuts.

CNNMoney: Economists' biggest worry: Federal budget deficitupdated: Mon Feb 28 2011 05:24:00

Government deficits are the biggest long-term worry of top U.S. economists, according to a survey released Monday.

GOP swings ax at 2011 budgetupdated: Wed Feb 16 2011 05:58:00

Jessica Yellin asks Sen. Rob Portman about the Republican pledge to slash $61 billion dollars from the 2011 budget plan.

America's 'moment of truth' on spendingupdated: Wed Feb 16 2011 05:58:00

President Obama's 2012 proposed budget is out, and the verdicts are coming fast and furious.

CNNMoney: Budget chiefs: Not happy with Obama planupdated: Mon Feb 14 2011 17:58:00

The top budget chiefs from both political parties criticized President Obama's 2012 budget Monday.

CNNMoney: Painful cuts in $3.7 trillion budgetupdated: Mon Feb 14 2011 17:27:00

President Obama on Monday unveiled a $3.7 trillion budget request for 2012 that proposes painful cuts in many government programs but fails to address the largest drivers of the country's long-term debt: Medicare, Medicaid and Social Security.

CNNMoney: Obama budget to cut $1.1 trillion in deficitsupdated: Sun Feb 13 2011 20:28:00

President Obama on Monday will propose a 2012 federal budget that the White House says will cut deficits by $1.1 trillion over 10 years.

CNNMoney: The federal budget's tortured pathupdated: Tue Feb 08 2011 09:48:00

Here's fodder for a new drinking game: Between now and Sept. 30, lift a glass every time you hear President Obama, members of Congress or TV pundits say "federal budget."

CNNMoney: 'Scores' of cuts in Obama budgetupdated: Sun Feb 06 2011 14:42:00

President Obama's upcoming budget will propose cuts to "scores" of federal spending programs, according to the administration's budget chief.

CNNMoney: The war over spendingupdated: Sun Jan 02 2011 12:34:00

Stock up on lint rollers, because the fiscal fur is going to fly when the 112th Congress gets under way Wednesday.

CNNMoney: Deficit cutting shouldn't be main U.S goal - pollupdated: Mon Dec 27 2010 17:01:00

How important is the federal deficit?

New bill has billions in new earmarksupdated: Wed Dec 15 2010 19:36:00

Critics are blasting a new omnibus bill that contains billions in earmarks. CNN's Anderson Cooper reports.

GOP senators will vote against spending bill over earmarks -- theirs and others'updated: Wed Dec 15 2010 19:36:00

Two prominent Republicans vowed Wednesday to vote against the $1.1 trillion spending bill, citing concerns over pork-laden pet projects, although millions of dollars of earmarks in the bill were requested by the two senators.

Effort to ban earmarks stalls in Senateupdated: Tue Nov 30 2010 11:50:00

The Senate voted Tuesday against taking up a measure that would have imposed a two-year ban on legislative earmarks, a practice that critics have called an example of wasteful spending.

CNNMoney: Senate confirms Obama budget chiefupdated: Fri Nov 19 2010 10:20:00

President Obama has got a new budget director, four months after he asked for one.

Flying car among year's best inventionsupdated: Sun Nov 14 2010 09:47:00

A flying car and a device to help paraplegics walk are named among 2010's top inventions. CNN's Josh Levs reports.

Is this the first step toward a flying car?updated: Sun Nov 14 2010 09:47:00

Along with the jetpack, the flying car tops the list of classic science-fiction imaginings that lead legions of fans to ask -- why don't we have this yet?

Draft deficit plan launches likely grueling political battleupdated: Thu Nov 11 2010 06:28:00

The release Wednesday of a draft proposal for reducing the federal deficit made clear how hard it will be to devise a sustainable plan that can win the necessary political support.

Congressional group wants defense budget cut to lessen deficitupdated: Wed Oct 13 2010 18:36:00

More than 50 members of Congress sent a letter Wednesday to the president's commission on deficit reduction, urging cuts to the nation's defense budget to help narrow the budget imbalance.

Government will appeal injunction against stem cell fundingupdated: Fri Aug 27 2010 13:40:00

The Obama administration will appeal a federal judge's decision to temporarily block federal funding of embryonic stem cell research, Justice Department spokesman Matthew Miller confirmed Tuesday.

Judge stops federal funding of embryonic stem cell researchupdated: Mon Aug 23 2010 20:21:00

A U.S. district judge granted a preliminary injunction Monday to stop federal funding of embryonic stem cell research that he said destroys embryos, ruling it went against the will of Congress.

Sarah Palin likes government tooupdated: Mon Jul 12 2010 10:08:00

During a speech at an event called "Freedom Fest," former Alaska Gov. Sarah Palin warned Tea Party activists that while government spending was a bad thing, conservatives should not go too far and start calling for reductions in the military budget.

House passes spending bill for war in Afghanistanupdated: Thu Jul 01 2010 23:52:00

The House narrowly passed a spending bill late Thursday that includes $37 billion to fund the war in Afghanistan.

CNNMoney: White House budget director is leavingupdated: Tue Jun 22 2010 04:05:00

Peter Orszag has told President Barack Obama that he plans to leave his position as White House budget director in July, an Obama administration official told CNN Monday evening.

White House budget director leaving in Julyupdated: Tue Jun 22 2010 02:42:00

Peter Orszag has told President Obama that he plans to leave his position as White House budget director in July, an Obama administration official said Monday evening.

Watchdog group finds smaller servings of congressional porkupdated: Wed Apr 14 2010 14:52:00

The "Pig Book," an annual report detailing the excesses of pork spending, has served up its usual heavy-duty mockery of congressional excesses. But this year the meat spit is smaller.

$250 million lost in space?updated: Mon Mar 15 2010 16:56:00

President Obama's proposed budget cuts NASA's plan to return man to the moon. CNN's Josh Levs reports.

Obama budget would cut moon exploration programupdated: Mon Mar 15 2010 16:56:00

American astronauts will not return to the moon as planned if Congress passes President Obama's proposed budget.

House GOP adopts yearlong earmark banupdated: Fri Mar 12 2010 09:41:00

House Republicans agreed Thursday to adopt a ban on congressional earmarks in spending bills for next year, upping the ante with Democrats in the political battle over fiscal responsibility and pork barrel spending.

Democrats ban some earmarksupdated: Thu Mar 11 2010 09:59:00

House Democrats impose a one-year ban on some earmarks. CNN's Brianna Keilar reports.

House Democrats plan ban on earmarks for for-profitsupdated: Thu Mar 11 2010 09:59:00

House Democrats said Wednesday that they will ban earmarks directed to for-profit companies.

Obama's budget draws battle lines for weeks aheadupdated: Mon Feb 01 2010 19:37:00

President Obama's budget plan released Monday lays out legislative priorities destined to become political battles as he navigates his second year in office.

CNNMoney: Obama unveils $3.8 trillion budgetupdated: Mon Feb 01 2010 17:06:00

President Obama revealed a $3.8 trillion budget for 2011 on Monday that tries to balance two competing goals: continued government spending to boost the fragile economic recovery and controlling the nation's deficit.

CNNMoney: Spend. Cut. Obama's tough spot on debtupdated: Tue Jan 26 2010 15:45:00

President Obama's State of the Union address will raise the curtain on how he plans to tackle the unsustainable growth in U.S. debt over the next decade.

CNNMoney: Will the Senate health bill tame costs?updated: Thu Dec 24 2009 07:20:00

The health care reform bill approved by the Senate on Thursday would do more than any proposal yet to reduce the deficit over time - by an estimated $132 billion over 10 years and by substantially more thereafter.

Don't allow federal funds for abortionupdated: Thu Dec 17 2009 11:12:00

The Democratic health care proposal being debated in the Senate not only contains large new taxes, enormous government expansion and huge spending, but I'm convinced it also seeks to allow federal funding for abortion -- something 61 percent of Americans do not support, according to a CNN/Opinion Research Corp. survey.

CNNMoney: Federal deficits: $9 trillion and countingupdated: Thu Dec 10 2009 11:10:00

In just over a month, the federal government's fiscal year will draw to a close, leaving in its wake one of the biggest annual deficits in U.S. history -- and a forecast of more record debt to come.

Stem cell research progressupdated: Wed Dec 02 2009 21:33:00

13 human embryonic stem cell lines are approved for federally funded research.

CNNMoney: Highway stimulus: Just a 'down payment'updated: Wed Aug 26 2009 08:36:00

The government promised $27.5 billion in stimulus funds to help fix the nation's crumbling roads and bridges as part of a broader effort to save jobs. The effort is working...sort of.

CNNMoney: U.S. between a deficit and a hard placeupdated: Tue Aug 25 2009 17:28:00

New estimates of the federal deficit leave many questions unanswered but underscore one cold fact of life in Washington right now: Boosting the economy without making an already bad deficit worse is really hard to do.

CNNMoney: Stimulus has yet to really boost GDPupdated: Fri Jul 31 2009 17:49:00

The nation's economy is starting to rebound, but the Obama administration's massive stimulus package had little to do with it.

CNNMoney: Stimulus spending short sighted - watchdogupdated: Wed Jul 08 2009 18:14:00

Fiscally-stressed states are using their stimulus dollars to satisfy immediate needs rather than undertake longer-term reforms, according to a government report released Wednesday.

Pay as you go?updated: Thu Jun 11 2009 11:12:00

In the face of mounting deficitis, President Obama wants to restore fiscal discipline. CNN's Jim Acosta reports.

Critics question 'pay-as-you-go' approachupdated: Thu Jun 11 2009 11:12:00

President Obama urged Congress to adopt a "pay-as-you-go" approach to federal spending in order to restore fiscal discipline, but critics say the president's call lacks credibility.

CNNMoney: U.S. budget deficit nears $1 trillionupdated: Wed Jun 10 2009 15:46:00

The federal budget deficit surged in May, bringing the total shortfall for this fiscal year to nearly $1 trillion, government figures showed Wednesday.

CNNMoney: Economy to resume growth this yearupdated: Thu May 21 2009 12:24:00

The economy will start growing in the second half of 2009, but it will be several years before the positive effects of a turnaround will be felt, the Congressional Budget Office said Thursday.

Small science foundation feels sting of Obama budget cutsupdated: Mon May 11 2009 10:09:00

In the context of a $3.5 trillion budget, a $1 million proposed cut might not seem like much. But for one small foundation, the impact could be shattering.

CNNMoney: Weeding the budget of $17 billionupdated: Thu May 07 2009 16:05:00

President Obama on Thursday offered a more detailed look at his 2010 budget proposal, which includes recommendations to cut funding for 121 federal programs and save $17 billion in 2010.

We recommend