Unable to broker an eleventh-hour deal with congressional Republican leaders, President Obama signed the order activating the automatic across-the-board federal spending cuts known as sequestration.

Our nation is operating on a temporary budget and a temporary debt-ceiling suspension with indiscriminate budget cuts threatening critical investments ranging from education to food safety. The State of the Union address failed to acknowledge how far we are from resolving our fiscal challenges in a manner worthy of the dreams and aspirations held by the people of our nation.

Actually, the fiscal cliff never left. If you thought we solved the fiscal cliff with the deal back in January (or even the more recent debt ceiling deal), you’re mistaken.

  Article II of the U.S. Constitution states that the president "shall from time to time give to the Congress information of the State of the Union."While the date is not specified by the Constitution, traditionally the State of the Union takes place in late January. This year President Obama ...

The State of the Union is usually a speech about a vision – not only for the twelve months ahead, but for years to come. This year is different.

The Budget and Accounting Act of 1921 requires the President to submit his budget request for the upcoming fiscal year no later than the first Monday of February. Recently, however, the White House's Office of Management and Budget (OMB) announced it will delay the scheduled Feb. 4 release of the ...

Good news came at the end of last week, and it's something that will affect you and your neighborhood. Speaker of the House John Boehner said the House would vote on a three-month increase to the debt ceiling in order to give lawmakers time to pass a more comprehensive budget deal.

On January 23 the Housed passed legislation to deal with the debt ceiling – the legal limit Congress places on its own borrowing. If the federal debt reaches the debt ceiling, the government is unable to borrow additional funds to support continued operations, triggering a government shutdown and default on ...

When lawmakers struck a fiscal-cliff deal on New Year's Day, they did not make any changes to Medicare or Social Security. But the debate over if and how to reform entitlement programs has only just begun.

One of the major issues not addressed as part of the recent deal on the fiscal cliff is the future of the major entitlement programs – Social Security, Medicare and Medicaid.Entitlements are programs that pay benefits to anyone who applies for them and meets the eligibility requirements for that specific ...