Fiscal policy

Commentator Robert Reich says lawmakers need to apply the brakes on automatic spending cuts and tax increases set to go into effect at the end of the year or the U.S. may face a new recession.

Last Groundhog Day we asked a couple economists to predict the economic future. Today we asked them to do it again.

The non-partisan Congressional Budget Office released a study yesterday warning of a U.S. recession if lawmakers let the Bush-era tax cuts expire and enact a round of automatic spending cuts — allowing for a 'fiscal cliff.'

Social Security's shortfall is manageable, but it's also real.

One idea that's emerging this morning is to create a fiscal union between countries to enforce tighter budgets across Europe.