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The Grand Old Party made a big deal about their budget cuts in pushing through a 'compromise' bill for this year's much delayed budget. It gets voted on tomorrow and a lot of Republican back benchers are squawking that they won't sign.
What does the rise of libertarianism portend for the future of the US? This is not a question of interest to Americans alone. It matters almost as much to the rest of the world.
White House press secretary Jay Carney said Republicans should not “play chicken with the economy.” The administration wants a prompt vote to raise the federal debt ceiling quickly. Carney went on to say, “The consequences of not raising the debt ceiling would be Armageddon-like in terms of the economy.”
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.
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.
President Obama and Congress reached an 11th hour deal on the budget on Friday night that averted am embarrassing shutdown of government services, but the battle over spending is only just beginning, according to Signe Roed-Frederiksen, a senior analyst at Danske Bank in Copenhagen.
Discussing whether the national debt is something investors should be so worried about, with James Bianco, Bianco Research president. The majority of Americans think it should not be raised.
President Obama will lay out new plans this week to reduce the federal deficit in part by seeking cuts to government programs for seniors and the poor, a top political adviser said.
The struggle over cuts to this year’s federal budget has intensified concern in Washington, and elsewhere about the bigger clash coming over increasing the government’s borrowing limit, the New York Times reports.
The deal marked the end of a three-way clash of wills, but it also set the tone for coming confrontations over raising the government's borrowing limit, the 2012 budget and long-term deficit reduction.
Washington shutdown fears are sinking the U.S. dollar, according to some news reports. Surely there’s something to this, as investor confusion rises and confidence falls, and as Washington seems to be gridlocked over a few billion dollars.
As the U.S. moves closer to the so-called "Fiscal Cliff", big ticket government spending areas like defense programs are likely to be at the center of the debate.
The US government is careening towards a shutdown as Democrats and Republicans can't agree on a 2011 budget plan. I believe a shutdown will occur.
The White House likes the narrative of Obama fighting against corporate interests. But the truth is that big business is taking sides with the Democrats on the budget battle.
The companies most impacted by a potential government shutdown, with Paul Hickey, co-founder, Bespoke Investment Group, LLC. Hickey says more troubling for these companies is the likely budget cuts coming down the road.
A government shutdown looms.
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 US is going down a similar road to that of Greece and Portugal with regards to its budgetary decisions, John E.Silvia, chief economist at Wells Fargo, on Wednesday.
Cramer talks with Rep. John Sullivan, R-Okla., who introduced a bill to promote nat gas and lessen dependence on foreign oil.
Both parties face significant political risks if they fail to resolve their budget disagreements and avert a government shutdown, a new NBC News/Wall Street Journal poll shows.