Republicans are accusing President Obama of waging "class warfare" with his proposal for a new "Buffett Rule" that would create a minimum tax rate for anyone making more than one million dollars a year.
Here’s some friendly fiscal advice: Any time some Washington big shot like Ben Bernanke or Tim Geithner claims that immediate spending cuts in the debt deal will harm the economy—ignore them. Completely. You know why? Because in this great country of ours, spending never goes down.
It’s all about controlling debt in Washington these days. Congress battles it out over raising the U.S. government's borrowing limit. For investors the buzz word is "default." As the U.S. Treasury says, it will be forced to default on its obligations if Congress does not raise the $14.3 trillion debt ceiling.
Rep. Paul Ryan, (R-WI), discusses a likelihood of a government shutdown and the future of Medicare and Medicaid.
Before approving a raise in the debt ceiling congressional Republicans want at least the same amount in spending cuts, Rep. Paul Ryan told CNBC.
A U.S. default on its obligations creates "a different world, and I don’t think you want to be in that world," economist Robert Brusca told CNBC Thursday.
U.S. Senators cast enough votes to defeat a Republican proposal to privatize Medicare, a widely expected result but one that Democrats hoped would force GOP Senators to vote in favor of a plan that is increasingly unpopular with voters.
More defined goals and a longer timeframe are need to reduce spending and shrink the current U.S. deficit, Travelers Insurance Chief Executive Jay Fishman said.
Keith Boykin, The Daily Voice, and Kevin Williamson, National Review, shed insight on Paul Ryan's controversial statement on handling the debt ceiling.
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.
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.