What a year for the federal budget! In 2012, our nation tackled complicated topics ranging from tax cuts to sequestration. The November election pivoted on candidates’ federal spending and revenue plans, and highly polarized debates about the so-called “fiscal cliff” continue to rage in Washington. What's Ahead for the Fiscal ...

There have been few outward signs of progress in recent days as Congress and the White House negotiate over the so-called fiscal cliff. (We prefer to call it a fiscal obstacle course.) Naturally that's led to speculation that lawmakers won't be able to strike a deal to avoid the looming spending cuts and tax increases.

A reader from Shelby Township, Michigan, wrote to us to ask about the Bush-era tax cuts. "How much revenue would the federal government get," he wrote, "if taxes were raised on the people making more than $200,000 per year?" It's a very timely question. Bush-era tax cuts for high earners are the most contentious part of negotiations raging over the so-called fiscal cliff.

I recently read an article that compared the gridlock in Washington, D.C. to living next to a railroad track with trains constantly going by – eventually you don’t even notice it. But with the fiscal cliff looming, concerns about the inability of Congress to get anything done are mounting.So it ...

The White House is preparing an emergency funding request to help repair the damages caused by hurricane Sandy. Although final details are not yet available, the request is expected to be for about $50 billion.This is considerably below the total amount requested by states which suffered severe damage from Sandy. ...

Last week I wrote a post called Fiscal Cliff Definition, with a simple explanation of the much-hyped, so-called fiscal cliff. (I also suggested that we call it a "fiscal obstacle course" instead of a cliff, because that's a more appropriate metaphor.) The next important question is: What's going to happen?

With all the talk in the news media about the "fiscal cliff," it seems that one important thing has been left out: A simple definition of what is the fiscal cliff. So here it is.

Governors and city mayors across the country want to have a say in negotiations over the fiscal cliff, the New York Times reported on Sunday. And no wonder. State budgets rely heavily on funding from the federal government, so across-the-board federal budget cuts – which are currently scheduled for the start of 2013 – would have a big impact on the states. Consider just a couple ways that federal money flows into your state.

In the wake of the elections, Democrats and Republicans are pledging to work together to solve the fiscal cliff and other daunting challenges that confront the current lame duck session of Congress.But how likely is that, really? For example, both sides claim that the election was a mandate for their ...

Now that the elections are over, in Washington it’s all about the fiscal cliff. If you haven’t heard that phrase yet, you will soon. And often.The term “fiscal cliff” refers to the combination of two major events that will occur at the end of the year should Congress fail to ...