Despite the sequester—the huge cutbacks in government spending—some high level Federal executives are scheduled to get millions of dollars bonuses, unless a law is passed.» Read More
How politicians even explain the way the government spends money depends on what party they belong to and whether that party holds the White House or Congress.
Although the debt ceiling debate has some nervous, others expressed optimism that the issue would be resolved in due time.
*Raises stakes with White House news conference. At a White House news conference called to promote his position on the budget, Obama vowed not to trade cuts in government spending sought by Republicans in exchange for raising the borrowing limit.
*Raises stakes with White House news conference. Calling a White House news conference to promote his position on the budget, Obama vowed not to trade cuts in government spending sought by Republicans in exchange for raising the borrowing limit. The United States could default on its debt if Congress does not increase the borrowing limit.
* "Happy" to talk about debt and deficit. WASHINGTON, Jan 14- President Barack Obama on Monday rejected any negotiation with Republicans over the most pressing U.S. fiscal issue, refusing to trade cuts in government spending in exchange for raising the borrowing limit. The United States could default on its debt if the borrowing limit is not increased.
WASHINGTON, Jan 9- The U.S. Congress should accept in the next round of deficit-reduction talks that revenue from taxes must be raised further if it expects President Barack Obama to sign off on a deal, the president's top economic adviser, Gene Sperling, said in an interview.
By Thomas Ferraro and John Whitesides. WASHINGTON, Jan 2- President Barack Obama and congressional Republicans looked ahead on Wednesday toward the next round of even bigger budget fights after reaching a hard-fought "fiscal cliff" deal that narrowly averted potentially devastating tax hikes and spending cuts.
Striking harbor clerks reached a tentative contract deal with management at the twin ports of Los Angeles and Long Beach on Tuesday night.
When Lin Biao, China’s then heir apparent, died in an air crash more than 40 years ago, it took the Communist party two months to inform the public. The FT reports.
Details of last week's agreement reveal that the budget cuts, while historic, were significantly eased by pruning money left over from previous years, using accounting sleight of hand and going after programs Obama had targeted anyway.
Budget deal accepted, NYSE bid rejected and British banks relocated? Here's what we're watching…
"The idea that Congress is so dysfunctional that they can't cut their budget by more than 1% or 2%, when you contrast that to the re-pricing of the entire housing stock for the U.S., it's a complete disconnect." ...A report from TheStreet.
Democrats and Republicans in Congress are scrambling to work out a last-minute budget agreement to avert a government shutdown at midnight tonight.
Another quake in Japan, another EU nation on the brink, and another day without a budget deal. Here's what we're watching…