Deficit

DETROIT (AP) – The idea is extreme, even in a city accustomed to fighting for survival: Should the state of Michigan step in to run Detroit? See Also: Cain Campaign Decision Close The governor has taken steps in that direction, proposing an unprecedented move that could give an appointed manager virtually unchecked power to gut […]

WASHINGTON — Even as President Barack Obama prepares his opening bid on long-term debt reduction, the White House wants to keep the focus on jobs and is determined to avoid getting sucked into another budget fight with lawmakers. Administration officials see the task of attending to deficits as necessary but not necessarily urgent, compared with […]

If there’s one mantra that’s always recited by politicians it’s “The American people want this,” and “The American people want that.” But based on the congressional gridlock surrounding the country’s deficit, it’s clear Republicans and Democrats are oblivious to what the American people really want, or need for that matter. Republicans and Tea Party members […]

WASHINGTON — President Barack Obama said he will veto conservative Republicans’ “Cut, Cap and Balance” fiscal plan if it makes it to his desk. A statement from the White House rejected the plan, which conditions a debt limit hike on a constitutional amendment that would require the government to balance its books each year. The […]

WASHINGTON — If lawmakers fail to reach a compromise on the nation’s deficit, it would not be the first time America defaulted on its loans…sort of. According to a report in The Washington Post, in 1979 the U.S. reached a last-minute approval that resulted in technical malfunctions in processing the backlog of paperwork, and subsequently […]

During a senate meeting Tuesday, majority leader Harry Reid (D-Nev.) called for talks on budget issues, as the country has found itself in great financial strain as of late. In true Democratic fashion, Reid proposed: “It is the sense of the Senate that any agreement to reduce the budget deficit should require that those earning […]

Roland Martin and the Washington Watch roundtable discuss the budget battle on Capitol Hill. Are the proposed GOP budget cuts about helping the economy, lowering the deficit or is it simply ideology? Will the Republican budget cuts ultimately hurt the economy? WATCH:

SAN BRUNO, California — Nearly 20,000 teachers are at risk of losing their jobs at the end of the school year, as districts in California struggle in preparation for budget cuts to relieve the nearly $27 million deficit.

Roland Martin joins David Walker and host Ali Velshi on Your $$$$$ to discuss reducing the deficit as well as how it affects the American people. WATCH: