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Barack Obama
President Barack Obama speaking at Pellissippi State Community College, in Knoxville, Tenn. Jan. 9. (AP Photo/Carolyn Kaster, File)
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CBO: Deficit to shrink to lowest level of Obama presidency

Solid economic growth will help the federal budget deficit shrink this year to its lowest level since President Barack Obama took office, according to congressional estimates released Monday.

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Federal Reserve Chair Janet Yellen Holds News Conference
Federal Reserve Chair Janet Yellen holds news conference on Sept. 17, 2014 (Mark Wilson, Getty Images)
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Low inflation likely to keep Fed ‘patient’ about a rate hike

The Federal Reserve ended 2014 with a pledge to be "patient" in raising interest rates from record lows. The way things are going, its patience may endure for a long while.

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President Barack Obama gives his State of the Union address before a joint session of Congress on Capitol Hill in Washington, Tuesday, Jan. 20, 2015 (AP Photo/Pablo Martinez Monsivais)
President Barack Obama gives his State of the Union address before a joint session of Congress on Capitol Hill in Washington, Tuesday, Jan. 20, 2015 (AP Photo/Pablo Martinez Monsivais)
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Full text of President Obama’s State of the Union address

President Barack Obama and his aides have been trickling out his State of the Union proposals on taxes, education, Internet access and more for weeks. What's left to watch for during Tuesday night's speech? Plenty. The event is as much about the theatrics and accoutrements of the evening as about the meat of the president's proposals.

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President Barack Obama
President Barack Obama (AP Photo/Carolyn Kaster, File)
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Obama to call for tax increases on wealthy during State of the Union

WASHINGTON (AP) -- President Barack Obama will call for increasing taxes on the wealthiest Americans by raising the capital gains rate and eliminating a tax break on inheritances, then using the revenue to fund new tax credits and other cost-saving measures for the middle class.

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