City Of Miami Faces Estimated $40M Budget Shortfall

A year after filling a huge budget deficit with deep cuts in pay and pensions, Miami is staring at a budget shortfall that could reach $40 million, and is looking at reducing department budgets by 10 percent across the board.


(Source: AP)

Political Reality Hitting Budget Battles

The battle over the budgets is pitting party against party and causing intraparty fights as Democrats and Republicans cut the budget, except in their district.


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GOP Proposes Deep Domestic Spending Cuts

Republican leadership in the House announced Thursday they plan to cut domestic spending by roughly 20 percent to get the levels back to before President Barack Obama took office.



Breaking Down The Tax Deal

President Barack Obama’s tax-cut deal with the GOP leadership sailed through both houses of Congress, easily passing in the House of Representatives Thursday evening.


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Senate Preps Final Vote On Tax Deal

The battle over the Obama-GOP tax cut compromise passed its first hurdle in the Senate Monday evening after a test vote received a filibuster-proof majority.


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Tax Deal Dwarfs Stimulus Cost

When President Barack Obama unveiled his federal stimulus plan, many in both parties erupted over the $787 billion price tag. But now, Obama’s tax deal with Congressional Republicans will dwarf the stimulus in the cost to American taxpayers.