The federal budget deficit topped $1 trillion — it was $1.089 trillion, to be exact — for the fourth year in a row, "highlighting the severe fiscal challenges President Obama or Republican challenger Mitt Romney will face during the next four-year term in the White House." (The deficit is actually down from $1.297 trillion last year, the U.S. Treasury said.) Romney says he would tackle the problem with "revenue-neutral" changes to the tax code and spending cuts that he believes will spur growth. Obama wants a mix of tax increases and spending cuts.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- 43 TV shows to watch in 2014
- The one thing the New Atheists get right about religion
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- The uncomfortable truth in The Giving Tree
- Why 2014 may be as good as it gets for the Republican Party
- 6 things the happiest families all have in common
- The U.S. government is actually trouncing Ebola. When will it get credit?
- The simple trick to making better decisions in every aspect of life
- Syrian women know how to defeat ISIS
- 10 things you need to know today: October 22, 2014
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