Patrick Temple-West

The Office of Management and Budget reported Thursday that the federal deficit is expected to be $1.32 trillion in fiscal 2011, down $329 billion from its February estimate, while it projected the unemployment rate could be 9.0% by the end of 2012, based on its mid-session review of President Obama's fiscal 2012 budget.

House Republicans, eager to jump-start job-creation efforts after the debt-ceiling battle, are eyeing a top reform priority among state and local government groups as part of their plans.

WASHINGTON — Members of the Federal Open Market Committee discussed a range of policy options during the Aug. 9 meeting as they tried to agree on stimulus efforts without appearing overzealous in the face of market volatility.

Members of the Federal Open Market Committee discussed a range of policy options during the Aug. 9 meeting as they tried to agree on stimulus efforts without appearing overzealous in the face of market volatility.

The Obama administration is bringing back to Washington a key advocate for the Build America Bond program to help strategize the president's job-creation initiatives.

WASHINGTON — Real gross domestic product expanded at a 1.0% annual rate in the second quarter, revised lower from the 1.3% initial estimate as consumer spending edged higher, the Commerce Department reported Friday.

Sen. Bernie Sanders, I-Vt., said Thursday he will introduce legislation when Congress reconvenes to establish a Social Security tax for high-earning workers, hoping to buffer the entitlement program from benefits cuts.

Real gross domestic product expanded at a 1.0% annual rate in the second quarter, revised lower from the 1.3% initial estimate as consumer spending edged higher, the Commerce Department reported Friday.

WASHINGTON — Initial jobless claims increased 5,000 to 417,000 for the week ending Aug. 20, boosted in part by workers who filed claims as a result of a labor dispute with Verizon Communications, the Labor Department reported Thursday.

Initial jobless claims increased 5,000 to 417,000 for the week ending Aug. 20, boosted in part by workers who filed claims as a result of a labor dispute with Verizon Communications, the Labor Department reported Thursday.

The federal budget deficit can be brought down if Congress follows through with mandated spending cuts and policy changes envisioned in current law — such as the expiration of Bush-era tax cuts — the Congressional Budget Office said Wednesday.

WASHINGTON — The Internal Revenue Service has opened an audit of $360.7 million of bonds issued in 2009 by Vernon, Calif., which has been roiled by political scandals and could be disincorporated pending the outcome of state legislation.

WASHINGTON — New home sales fell in July, their fourth straight monthly decline, dropping 0.7% to a seasonally adjusted annual rate of 298,000, the Commerce Department reported Tuesday.

New home sales fell in July, their fourth straight monthly decline, dropping 0.7% to a seasonally adjusted annual rate of 298,000, the Commerce Department reported Tuesday.

WASHINGTON - The Internal Revenue Service finalized its regulations for tax-exempt financing of solid-waste disposal facilities, adopting most of the recommendations proposed by attorneys last year, market participants said Thursday.

WASHINGTON - State and local groups are sizing up the new congressional deficit reduction committee, determined to preserve tax-exemption for municipal bonds but acknowledging that federal funds for some of their programs will likely be cut.

WASHINGTON - The Internal Revenue Service has closed an audit of the Highlands County Health Facilities Authority's 2005 refunding bonds with no change to their tax-exempt status.

WASHINGTON — Industrial production increased 0.9% in July, the largest gain in seven months, as production in the utilities sector jumped, the Federal Reserve reported Tuesday.

WASHINGTON — Groundbreaking for new homes fell in July, decreasing for the first time in three months, the Commerce Department reported Tuesday.

Industrial production increased 0.9% in July, the largest gain in seven months, as production in the utilities sector jumped, the Federal Reserve reported Tuesday.