deficit reduction News

President Barack Obama on Monday proposed to end a “direct payment” subsidy that gives $5 billion a year to farmers regardless of need, as part of his larger effort to reduce the federal budget deficit. Direct payments, created in 1996 …

President Barack Obama endorsed key elements of a U.S. flood insurance reform bill passed by the House in the tax and deficit plan he unveiled Monday, even as the reform has stalled in the Senate without a clear path forward. …