F. Mary Eloundou

Almost two years ago, the failure of a bipartisan fiscal committee to decide on budgetary cuts triggered a chain of events that, unless Congress acts soon, will result in automatic cuts totaling $607 billion in January 2013. Theoretically, fiscal…

On October 12, the U.S. Department of the Treasury announced the final figure for the 2012 fiscal year, which ended on September 30: a whopping $1.1 trillion. This marked the fourth year in a row that the U.S. government’s expenditures have exceeded…