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
- Here's the schedule very successful people follow every day
- The big, gaping hole in the liberal policy arsenal
- Why you should really take a nap this afternoon, according to science
- What would a U.S.-Russia war look like?
- The militarization of America’s police
- 7 grammar rules you really should pay attention to
- Why you shouldn't eat dog. Not even once.
- 7 things the world's happiest people do every day
- A gay Mormon's complicated journey
- Are there too many good shows on television?
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