President Obama has published his multi-trillion-dollar budget. Despite it being an election year, Karen Shaw Petrou thinks we should take it seriously.
President Obama unveils his budget for next year on Monday, at a community college just outside of Washington, D.C. But how serious is this executive branch wish list in a gridlocked Washington?
Like it or not, some form of major tax change is coming over the next several years. The reason is well-known: The federal government's dire long-term fiscal situation. The real question is what kind of tax overhaul.
Long-term budget issues in Washington are yet to be resolved, but it is likely that leaders will settle on a temporary two month extension of the payroll tax cuts.
As news from Europe points to greater fiscal scrutiny for countries in the EU, questions are raised as to whether a balanced budget amendment here at home could finally pass.