President Barack Obama will propose $1.5 trillion in new taxes as part of a plan to identify more than $3 trillion in long-term deficit reduction and slow the nation’s escalating national debt. Obama’s tax plan is aimed predominantly at the ...

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WASHINGTON — President Barack Obama will lay out his jobs plan in a prime television time address next week to a rare joint session of Congress, the White House said Wednesday. Obama sent a letter to House Speaker John Boehner ...

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WASHINGTON — The U.S. trade deficit surged in May to the highest level in more than two and a half years, driven upward by a big increase in oil imports. The Commerce Department said Tuesday that the deficit increased 15.1 ...

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WASHINGTON — Grasping for a deal on the nation’s debt, President Barack Obama and congressional leaders remained divided Sunday over the size and the components of a plan to reduce long term deficits. Saying “we need to” work out an ...

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WASHINGTON — Two Senate rebels jumped into Congress’ cut-the-deficit competition on Tuesday, proposing to raise the age of Medicare eligibility to 67 and increase monthly premiums for millions of current beneficiaries. “We can’t save Medicare as we know it,” said ...

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Metro’s board of directors has approved a $2.5 billion budget for fiscal year 2012 that does not call for any major rail fare hikes. The transit agency approved the combined operating and capital budget on Thursday. The fiscal year begins ...

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WASHINGTON — The federal budget deficit is on pace to break the $1 trillion mark for a third straight year, putting pressure on Congress and the Obama administration to come up with a plan to rein in government spending. The ...

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WASHINGTON – The government is taking in more tax revenues as the economy improves, but not nearly enough to keep the federal budget deficit from exceeding $1 trillion for a third straight year. The Treasury Department says the deficit for ...

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WASHINGTON — President Barack Obama sent Congress a $3.73 trillion budget Monday that holds out the prospect of eventually bringing deficits under control through spending cuts and tax increases. But the fiscal blueprint largely ignores his own deficit commission’s view that ...

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Gov. Martin O’Malley said repeatedly on the campaign trail in the fall that his top priority was jobs — creating them, retaining them, saving them and enabling businesses in Maryland to feel confident enough to add them to their payrolls. ...

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