Category Archives: Budget

Senate passes $182B spending bill

By doris | Published: November 1, 2011

Full Story at  msnbc.com WASHINGTON — The Senate has approved must-do legislation to fund the day-to-day budgets of five Cabinet agencies, kick-starting long overdue work to add the details to budget limits agreed to by President Barack Obama and congressional Republicans this summer. The bipartisan 69-30 vote came on a $182 billion bundle of three [...]

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Why Congress won’t stop hurting you

By doris | Published: October 2, 2011

Full Story at CNN.com It’s a question worth asking as Democrats and Republicans threaten for the third time this year to shut down the federal government. Americans faced the same prospect during spring budget talks and the summer debt ceiling debate. Now it’s happening over what was expected to be passage of a routine bill [...]

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Congress at it again

By doris | Published: September 24, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — To those still trying to salvage homes wrecked by natural disasters this summer, don’t worry. Congress has your back. There is just no way lawmakers would let funding for the Federal Emergency Management Agency run out. Well, they probably won’t. They don’t want to anyway. But they’ve [...]

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Disaster aid bill fails in Republican-led House

By doris | Published: September 22, 2011

Full Story at msnbc.com WASHINGTON — House GOP leaders are regrouping after a surprise loss on a measure to provide $3.7 billion for disaster relief and prevent a government shutdown at the end of next week. Speaker John Boehner of Ohio said Thursday that he would meet with Republican lawmakers this afternoon on Capitol Hill [...]

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$16 muffins? Federal report details costly conferences

By doris | Published: September 21, 2011

Full Story at msnbc.com WASHINGTON — As the U.S. government grapples to find ways to trim the bloated federal deficit, a new report suggests officials might start with cutting out $16 muffins and $10 cookies “We found the Department (of Justice) spent $16 on each of the 250 muffins served at an August 2009 legal [...]

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Obama to propose $1.5 trillion in new tax revenue

By doris | Published: September 19, 2011

Full Story at msnbc.com WASHINGTON — President Barack Obama will propose $1.5 trillion in new taxes as part of a plan to identify more than $3 trillion in long-term deficit reduction and slow the nation’s escalating national debt. Obama’s tax plan is aimed predominantly at the wealthy and draws sharp contrasts with congressional Republicans. It [...]

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CNN Poll: 8 in 10 think we’re in a recession

By james | Published: September 4, 2011

Full Story at PoliticalTicker.blogsCNN.com Washington (CNN) – Economic fears are not diminishing. More than eight in 10 Americans think the economy is in another recession, according to a new CNN/ORC poll. One-third of those surveyed think it’s serious. While the country isn’t technically in a recession because the economy hasn’t experienced two straight quarters of [...]

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Deficit “super committee” gets to work

By doris | Published: August 28, 2011

Full Story at CBS News With just a few short months to come up with a plan for significant budget savings, the leaders of the congressional deficit “super committee” said in a statement today that they’re busy devising a plan of action. “In our capacity as co-chairmen, we are engaging in serious discussions to determine [...]

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Weak growth. Monster debt. Which to tackle first?

By doris | Published: August 25, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — It’s easy to read the latest budget outlook from the Congressional Budget Office as further proof that the United States really needs to get serious about dealing with the national debt. But if that’s all that lawmakers take away, they will have missed a big point. The [...]

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Bachmann: I’ll bring back $2 gas

By doris | Published: August 19, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — President Michele Bachmann has a promise: $2 gas. “Under President Bachmann you will see gasoline come down below $2 a gallon again,” Bachmann told a crowd Tuesday in South Carolina. “That will happen.” Sure, politicians promise all kinds of things on the campaign trail. But Bachmann, a [...]

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US government loses triple-A credit rating

By doris | Published: August 6, 2011

Full Story at msnbc.com WASHINGTON — The United States lost its top-notch AAA credit rating from Standard & Poor’s Friday in a dramatic reversal of fortune for the world’s largest economy.S&P cut the long-term U.S. credit rating by one notch to AA-plus. The credit agency said it was making the move because the deficit reduction [...]

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Who will Uncle Sam pay if there’s no debt deal?

By doris | Published: July 30, 2011

Full Story at news.Yahoo.com Come Aug. 3, just who will get paid? That’s the new worry coursing throughout Washington as the contentious debt ceiling negotiations hurtle towards Aug. 2, the deadline beyond which President Barack Obama has warned that the government risks running short of money to pay all of its bills. If the government [...]

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