Games Politicians Play: More Tax Cuts as U.S. Faces Large Deficits
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President Bush has scored early victories in the budget battle even as some of his specific plans to cut spending have been criticized.
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Surging corporate profits -- and another big increase in corporate tax collections -- will shrink the federal budget deficit to its smallest number in five years, according to new White House estimates, which show the deficit falling to $205 billion in the fiscal year that ends in September.
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Americans have resolved to improve their fiscal lot.
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BOTH PRESIDENTIAL candidates want you to think they have a serious plan to deal with the budget deficit. President Bush and Democratic nominee John F. Kerry each promise to cut it in half in the next several years.
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Seven years ago, President Bush rode into town promising tax cuts and rebates. He's heading out the same way.
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WASHINGTON - Legislation extending three popular middle-class tax cuts for the rest of the decade sailed through Congress by lopsided votes in both the House and Senate, giving President Bush a major legislative victory on his signature economic issue, tax relief.    Many Democrats complained during debate Thursday that the majority Republicans who control Congress should have offset the lost revenue to keep the nation's soaring deficits from getting worse...
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American public companies are betting billions on tax breaks that may not work out.
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As you may have heard, the latest White House proposal for the federal budget amounts to a bazillion gazillion dollars, give or take a jillion. The great news is that, according to White House calculations, the budget deficit has been cut in half, a feat achieved primarily by running up the deficit...
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The U.S. budget deficit will hit  $368 billion this year even before war costs are added, the  Congressional Budget Office said on Tuesday, and analysts said  the number shows it would be hard for President Bush to keep  his promise of halving the gap in five years.
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NEW YORK -- Faced with a weak national economy and a worsening housing crisis, a growing number of states are confronted with severe budget deficits, forcing some governors to come up with creative -- some say risky -- budget gimmicks to find new sources of cash.
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At their national convention, Republicans were short on specifics on how to pay for an economic agenda in a second Bush administration. One reason is that President Bush could end up having to back a tax increase, just as his father did. But nobody wanted to spoil the Madison Square Garden party by mentioning such unpleasantries. After all, Republicans are insisting that Democrat John Kerry is the candidate who will increase taxes.
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Democratic presidential rivals called for higher taxes on the wealthiest Americans and on some corporations Thursday and said any thought of balancing the federal budget would have to wait.
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President George W. Bush&#39;s bid to restructure Social Security and make tax cuts permanent competed with budget and trade deficit concerns during a two-day conference of economists and executives that began today.
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The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, even as a worsening deficit picture for future years makes it more difficult for President Bush to meet his pledge of a surplus by 2012.
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Okay, let&#39;s all agree: Nobody likes to pay taxes. That&#39;s why the major candidates for president and many other politicians standing for election this year favor tax cuts or something they call tax reform.
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WASHINGTON -- The deficit for the first five months of the budget year is down sharply from a year ago as the growth in government tax collections continues to outpace growth in spending.
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A new study urges states to thrive by cutting taxes.