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Washington - President Obama, who is proposing his third annual budget on Monday, will say that it can reduce projected deficits by $1.1 trillion over the next decade, enough to stabilize the nation's fiscal health and buy time to address its longer-term problems, according to a senior administration official.

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From whatever angle you approach it, the present offers no way out. This is not the least of its virtues. From those who seek hope above all, it tears away every firm ground. Those who claim to have solutions are contradicted almost immediately. Everyone agrees that things can only get worse. "The future has no future" is the wisdom of an age that, for all its appearance of perfect normalcy, has reached the level of consciousness of the first punks. 

Since 91% of stocks are owned by the Plutocracy, the much-ballyhooed rise in the stock market as proof the recession is over is perception management/ propaganda.

Icelanders have quietly carried out a revolution by toppling a weak government, drafting a new constitution and seeking to jail those responsible for the country's economic debacle.

A network of national funds should be introduced so the cost of bank failures are not met by the taxpayer, the EU internal market commissioner has said.

U.S. Treasury Secretary Timothy F. Geithner dined on Wednesday night with European Central Bank President Jean-Claude Trichet, a closed-door, no-public-comment session that placed the American official in the middle of an ongoing European debate: Which Trichet would show up?