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
- Did the media get Ferguson wrong?
- 43 TV shows to watch in 2014
- What the Middle Ages can tell us about the GOP's big charity myth
- 3 horrific inaccuracies in Homeland's depiction of Islamabad
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- 10 things you need to know today: October 24, 2014
- The U.S. is about to sell weapons to Vietnam. That's bad news for China.
- America's anti-feminist mega-corporations' toxic disregard for women must stop
- Keira Knightley on Laggies, relationships, and surviving your 20s
- 10 self-sabotaging interview mistakes to avoid
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