Congressional leaders from both parties are working out the details of a two-year federal budget deal they hope to vote on before the holiday recess.» Read More
Holders of US government debt would be willing to miss payments "for a day or two or three or four" if it put the US in a stronger position to pay them later on, Rep. Paul Ryan told CNBC Tuesday.
House Republicans appear to be on the defensive, facing worried questions from voters and a barrage of new attacks from Democrats and their allies, the New York Times reports.
We thought tax reform meant lowering rates and broadening the base by eliminating or cutting back on various deductions, credits, and loopholes. That’s what the Bowles-Simpson commission proposed. That’s what Paul Ryan and David Camp are working on. And that’s the pro-growth model.
The budget deal struck last week amounts to a bet by the Obama administration that the loss of $38 billion in federal spending will not be the straw that breaks the back of a fragile economic recovery, the New York Times reports.
The House passes a one week stopgap to keep the government running, but the Obama Administration says it will veto it, and is developing contingency plans for a government shutdown. CNBC's Hampton Pearson reports on the economic impact of a government shutdown.
CNBC's Silvia Wadhwa reports from Frankfurt on the expected rate hike by the ECB. Many see it as a warning that countries have to be responsible for getting their own fiscal houses in order. And John Harwood reports on a new NBC-Wall Street Journal Poll. Also, a look at the weather forecast for The Masters in Augusta, Georgia.
The long-term budget path outlined by House Republicans may shake up this year’s already contentious budget debate as well as next year’s presidential politics, the NY Times reports.
The Republican budget proposal will eliminate the national debt while still preserving costly entitlement programs like Medicare and Social Security, Rep. Paul Ryan told CNBC.