A crucial first Senate vote on President Barack Obama's health care overhaul in a rare Saturday night session looms as a test of Democratic unity and the president's prestige.
As the biggest U.S. banks clamor to defeat Congressional measures that could break up their firms or slap a big tax on their transactions, another costly proposal is quietly gaining steam.
The nonpartisan Congressional Budget Office estimated the cost of a sweeping U.S. Senate health care overhaul at $849 billion over 10 years, a senior Senate aide said on Wednesday.
Improper payments by the U.S. government to people, firms and contractors rose sharply to $98 billion in fiscal 2009 and President Barack Obama plans new rules to clamp down, the White House said Tuesday.
Tuesday, 17 Nov 2009 | Source: The Associated Press
Stung by an embarrassing electronic leak last month revealing ethics investigations into dozens of lawmakers, Congress moved Tuesday to prohibit federal employees from using the same type of Internet file-sharing software blamed for the disclosure.
Friday, 13 Nov 2009 | Source: The Associated Press
Venezuelan President Hugo Chavez lashed out at an agreement for American troops to use more Colombian military bases on Friday, accusing the U.S. of aiming to start a conflict and urging his military to be prepared.
A top economic adviser to U.S. President Barack Obama warned on Friday that the urgency for changing the rules of the road for financial firms may be waning and urged Congress to act while the general public is focused on banking issues.
Friday, 13 Nov 2009 | Source: The Associated Press
The White House has told domestic agencies to assume their budgets will be frozen or even cut by 5 percent as it signals a big push to take on the deficit next year.
The U.S. government's $700 billion bailout program will "almost certainly" result in an overall loss for taxpayers, a key auditor for the program said on Thursday
Wednesday, 11 Nov 2009 | Source: The New York Times
Health care reform has always had two main goals. The first — insuring the uninsured — carries grand overtones of social justice. The second — making the health care system more efficient — can seem abstract, technocratic and a bit nerdy. The New York Times looks at what's missing.
Sen. Christopher Dodd, chairman of the Senate Banking Committee, told CNBC Wednesday that his version of the financial reform bill is a "discussion draft," and there is still room for debate over whether to create a single federal regulator, as well as whether to make an independent consumer protection agency.
Tuesday, 10 Nov 2009 | Source: The Associated Press
A U.S. Senate proposal to create a federal super cop to police banks faces formidable opposition from the industry, current regulators and a senior House lawmaker who recently blasted the idea
The healthcare reform that the House of Representatives approved late Saturday is bad for the US and will actually damage the health care system, Steve Forbes, CEO at Forbes, told CNBC Monday.
Saturday, 7 Nov 2009 | Source: The Associated Press
The House passed landmark health care legislation Saturday night to expand coverage to tens of millions who lack it and place tough new restrictions on the insurance industry. The Senate takes up the bill next.
When I first heard the $1 Billion set aside by the Federal government for the "Cash for Clunkers" program was about to run out, I chuckled and thought, "well that didn't take long." It also has brought up a question as to whether or not the quick evaporation of money means the public is ready to buy cars and trucks again, or if this is a one time "flash point" of demand sparked by Federal money... Read More
Well, of one thing I am certain—fiscal drag will offset monetary stimulus, and the result will be a torpid economy—with high unemployment and anemic growth... Read More