TOM RAUM

13 - 7:00am

Government's finances will start to worsen again as Social Security, Medicare and Medicaid become more expensive, unmanageable under increasing weight of retiring baby boomers

WASHINGTON — Despite constant budget wrangling and finger-pointing by the nation’s policy-makers, the government’s short-term fiscal outlook isn’t all that bad. It’s actually getting better — at least for now. Washington is borrowing about 25 cents for every dollar it spends, down from over 40 cents just a few years ago.

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Many conflicted on spending cuts 03/09/13 - 1:22am

WASHINGTON — As President Barack Obama and lawmakers spar over huge federal deficits, they’re confronted by a classic contradiction: Most Americans want government austerity, a survey shows, but they also want increased spending on a host of popular programs: education, crime fighting, health care, Social Security, the environment and more. Less for defense, space and foreign aid.

Gov't downsizes amid GOP demands for more cuts 02/22/13 - 8:46am

With the deadline only a week off, Obama and Republicans who control the House are far apart over how to resolve the deadlock

WASHINGTON — Republicans and other fiscal conservatives keep insisting on more federal austerity and a smaller government. Without much fanfare or acknowledgement, they've already gotten much of both.

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Pelosi decision may affect budget talks 11/14/12 - 1:51pm

Pelosi announced Wednesday she'll continue to lead her party in the House despite the Democrats' failure to win back the majority it lost in 2010.

House Democratic leader Nancy Pelosi's decision to serve another term in that post will probably have a big influence on efforts by President Barack Obama and Congress to reach an agreement to avert the so-called fiscal cliff.

Democrats expand Senate grip but fail to win House 11/07/12 - 9:11am

House Speaker John Boehner, R-Ohio, who also gets to keep his job, offered to work with any willing partner, Republican or Democrat, to get things done.

Democrats strengthened their hold on the Senate but failed Tuesday to recapture the majority in the House of Representatives they lost two years ago.

Obama, Romney playing time zone tag on election day 11/06/12 - 3:31pm

Both working to get voters to polls

After many months of grueling campaigning, the waiting stage of the presidential sweepstakes is near as both parties worked furiously to boost turnout and get supporters to the polls.

Romney gives Democrats support for claims he manipulated deductions on tax return 09/22/12 - 10:39pm

WASHINGTON — Mitt Romney has given Democrats plenty of support for their claim he manipulated his deductions to keep his overall 2011 federal income tax rate above a certain threshold for political purposes. The Republican presidential nominee, whose wealth is estimated as high as $250 million, seems hemmed in by a comment to reporters in August that he had never paid less than 13 percent in taxes in any single year over the past 10. Had he taken the full charitable deduction last year, it would have pushed his tax liability below 13 percent.

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Romney gives Dem support for tax deductions claim 09/22/12 - 10:54am

WASHINGTON (AP) — Mitt Romney has given Democrats plenty of support for their claim he manipulated his deductions to keep his overall 2011 federal income tax rate above a certain threshold for political purposes. The Republican presidential nominee, whose wealth is estimated as high as $250 million, seems hemmed in by a comment to reporters in August that he had never paid less than 13 percent in taxes in any single year over the past 10. Had he taken the full charitable deduction last year, it would have pushed his tax liability below 13 percent.

Romneys paid $1.94 million in federal taxes for 2011 — a tax rate of 14.1 percent 09/22/12 - 12:39am

WASHINGTON — Mitt Romney, one of the wealthiest candidates ever to seek the presidency, paid nearly $2 million in federal taxes on $13.7 million in income that he and his wife reported last year, his U.S. returns showed Friday. That came to an effective tax rate of 14.1 percent, lower than millions of middle-income Americans but actually more than he had to pay. Most of Romney's income was from investment returns. That is why his rate was lower than taxpayers whose income was mostly from wages, which can be taxed at higher rates.

Romneys paid $1.94 million in fed taxes for 2011; put out summary of 1990-2009 Friday 09/21/12 - 2:02pm

Last year's income was $13.7 million so their effective tax rate was 14.1 percent.

WASHINGTON (AP) — Mitt Romney and his wife, Ann, paid $1.94 million in federal taxes on last year's income of $13.7 million, for an effective tax rate of 14.1 percent, his campaign said Friday. That's slightly above the 13.9 percent rate the couple paid in 2010. Most of the 2011 income was from investments.

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