The budget deficit this year will grow as a percentage of GDP for the first time since 2009, rising to $544 billion and 2.9 percent of GDP, according to the Congressional Budget Office’s annual budget and economic outlook report released today.

We need to take a hard look at the structure of public and private retirement systems and reinforce financial literacy among beneficiaries, says Carl Tannenbaum.

ABA and a handful of national trade groups representing financial institutions and businesses last night urged congressional leaders to raise the federal debt limit, warning that a failure to do so would undermine international confidence in the creditworthiness of the United States.