The federal deficit last year was nearly $1.1 trillion, or more than $9,500 per U.S. household. According to Fox News, 49% of registered voters think lawmakers could eliminate that deficit if they got rid of waste and fraud. 42% think lawmakers will have to make painful decisions about taxes and spending in order to eliminate the national debt. We want to know: What do you think?
Today, the House passed “No Budget, No Pay Act,” which temporarily suspends the current $16.4 trillion limit on federal borrowing until May 18, 2013. If Congress fails to adopt a budget by April 15, the salaries of members will be held in a separate account until a budget is adopted. Here's what you need to know.