US records USD 71 billion budget surplus in June

The US government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008.

US Congress won`t meet deadline for spending bill vote

The US Congress was poised on Monday to extend by three days a deadline set during the country`s autumn budget crisis to avoid another government shutdown.

Obama signs bipartisan budget deal, annual defense bill

President Barack Obama on Thursday signed a compromise budget that reduces the risk of another government shutdown and a defense bill that cracks down on sexual assault in the military and smooths the path for transferring detainees from the US prison in Guantanamo Bay, Cuba.

US budget deal will hike fees on air travellers

The US budget deal reached this week ends billions of dollars in crippling automatic spending cuts, but paying for that would trigger something Americans love to hate: higher air travel fees.

White House budget office urges agencies to prepare for possible shutdown

The White House budget office directed federal agencies on Tuesday to prepare for the possibility of a federal government shutdown should Democrats and Republicans fail to find a budget compromise by the end of September.

US Army to cut 80,000 troops by 2017 to reduce budget

The United States Army has announced to reduce its strength by a whopping 80,000 by 2017 as part of a budget-cutting plan, making it one of the largest force reductions since World War II.

US won`t cut carrier fleet to fix budget: Panetta

US defence secretary cited tensions with Iran as an example of why the massive ships are so critical to national security.