Spending Review

Federal budget deficit

Budget deficit estimated at $845B

WASHINGTON (AP) — A new government report is predicting the budget deficit will drop below $1 trillion for the first time in President Barack Obama’s tenure in office.

02/05/2013

U.S. Department of Defense (AP Photo)

Military begins planning for massive budget cuts

WASHINGTON (AP) – The Defense Department says it has begun planning for the roughly $500 billion in personnel and program cuts that will be needed if Congress and the White House fail to reach a deal.

12/05/2012