Home / Search Results for: fiscal cliff

Search Results for: fiscal cliff

CBO: Deficit to Go Up $4T Under Fiscal Cliff Tax Deal

Under current law as it stands, the Congressional Budget Office is estimating the tax deal passed by Congress to avert the fiscal cliff will add $3.9 trillion to the deficit over the next decade, The Hill newspaper reports. Peter Schroeder writes $3.6 trillion of that figure results from lower rates …

Read More »

Panetta: Fiscal Cliff Prevents Future Planning

Budget uncertainty surrounding the fiscal cliff keeps the Defense Department from being able to plan the country’s future defense strategy, Defense Secretary Leon Panetta said Tuesday. According to CBS News, Panetta told a National Press Club audience the department has had to deal with the headwinds of sequestration, which he …

Read More »

Rep. Capito: Fiscal Cliff Deal Can Still Happen

With the year-end deadline approaching for Republican and White House negotiators to reach a compromise on avoiding the fiscal cliff, a West Virginia lawmaker is still optimistic a deal can happen. National Journal reports Rep. Shelley Moore Capito (R-W.Va.) told a Politico-hosted event Tuesday she believes President Barack Obama will …

Read More »

IMF Chief: No Fiscal Cliff Deal, No US Economic Growth

The U.S. economy cannot grow in 2013 unless the White House and Congress reach a compromise to avoid the January fiscal cliff of automatic spending cuts and tax increases, the head of the International Monetary Fund told CNN. Christine Lagarde, the IMF’s managing director, said in an interview aired Sunday …

Read More »

Defense CEOs: More Cuts Could Be Part of Fiscal Cliff Plan

Four CEOs of aerospace and defense firms are again urging Congress and the White House to work together on avoiding the fiscal cliff, Aviation Week reports. At the same time, those four also acknowledged additional cuts to the defense budget may be part of a bipartisan plan to avoid the …

Read More »

Report: Defense Cuts Excluded From Dem, GOP Fiscal Cliff Proposals

Initial proposals from both the White House and Republican congressional leaders to avoid the fiscal cliff do not include new cuts to defense spending under sequestration, Defense News reports. John Bennett writes the White House’s proposal would defer the $1.2 trillion in both defense and nondefense cuts covered under the …

Read More »

Report: WH, Lawmakers Hold Weekend Fiscal Cliff Summit

President Barack Obama met with congressional leaders over the weekend to discuss how the country can avoid the fiscal cliff, Reuters reports. The cliff is scheduled to kick in Jan. 2 through $600 billion in tax increases and $109 million in spending cuts under sequestration, Mark Felsenthal writes. Felsenthal reports …

Read More »