On a muggy morning this week, a group of bankers and investment managers met at The Hay-Adams Hotel in Washington, D.C. They got an update from the Treasury Department about government cash flows and, according to minutes of the meeting, the picture wasn't pretty.

Corporate tax receipts are down for the year, while government spending is up. Even with a fast-growing economy, the Treasury Department expects to borrow more than $750 billion to pay its bills during the last six months of this year.

Ohio U.S. Senator Sherrod Brown
J. Scott Applewhite / AP

Democratic Sen. Sherrod Brown backed a two-year budget deal that could push federal deficit spending past a trillion dollars by next year. But Brown argues GOP lawmakers are responsible for a fair share of the red ink.

President Obama's Budget

Apr 14, 2011

Some have suggested that the speech President Obama gave at George Washington University on Wednesday was more of the sort that many expected last week when he announced that he would run for re-election next year.

Jobless Fund Proposal Promises Relief To Ohio.

Feb 8, 2011

As state governments struggle to balance budgets, they are looking to Washington for some help. Case in point: An Obama Administration proposal to give relief to states like Ohio which carry unemployment insurance debt. WOSU's Tom Borgerding reports