Home / Tag Archives: debt ceiling (page 4)

Tag Archives: debt ceiling

Is a Federal Budget Deal Coming Soon?

With the current federal budget set to expire Friday and a fast-approaching deadline, House and Senate negotiators reportedly “narrowed their differences” over the weekend on a more-than-$1 trillion federal spending bill for fiscal year 2012 according to Politico. If passed, and then signed by President Obama, discretionary spending would continue …

Read More »

Report: Supercommittee Set to Announce Failure

High hopes that the congressional supercommittee charged with proposing a deficit reduction solution appear to be dashed as Republican and Democratic leaders of the panel are set to announce failure, according to a report from Reuters on Monday. The supercommittee was charged with proposing at least $1.5 trillion in savings …

Read More »

GOP Lawmaker Says Defense Cuts May Lead to Draft

Further cuts to the defense budget could lead the U.S. to shift from an all-volunteer force and reinstate the draft, a key House lawmaker said Monday. In an interview with Fox News, House Armed Services Committee Buck McKeon (R-Calif.) said cuts beyond the the $350 billion already agreed to in …

Read More »

House Defeats Govt. Funding Bill, Shutdown Fears Rise

The House defeated a bill that would fund the government past Sept. 30 on Wednesday, raising fears of a possible government shutdown. The bill would have provided $1.043 trillion to fund the government, in line with the debt ceiling deal reached in August. The bill was voted down 230-195, with …

Read More »

Deficit ‘Super Committee’ First Meeting Thursday

The congressional deficit reduction committee, known as the “super committee,” is holding its first public meeting Thursday. Committee co-chairs Sen. Patty Murray (D-Wash.) and Rep. Jeb Hensarling (R-Tex.) said the first meeting will be an organizational meeting. The co-chairs and the 10 other members will make opening statements and consider …

Read More »

CBO Gives Grim Outlook on Deficit & Unemployment

The U.S. is facing a $1.3 trillion deficit for fiscal year 2011 and an unemployment rate above 8 percent through 2014, according to a projection from the Congressional Budget Office. The CBO’s latest mid-term outlook, released Wednesday, was originally completed in July. The CBO updated its outlook in August to …

Read More »

Treasury Secretary Geithner Stays On

Treasury Secretary Timothy Geithner announced Sunday he is staying on the job at President Barack Obama’s request. Reuters reports Geithner considered stepping down after the federal debt ceiling was raised. However, Obama urged him to remain in his post amid growing economic uncertainty and fears over a possible double-dip recession. …

Read More »

Contractors Uncertain On Debt Deal

The debt ceiling increase President Barack Obama signed into law Tuesday is certain to cut $350 billion from the defense budget. However, according to Government Executive, federal contractors are left with uncertainty over how to plan for the long term. The cuts come at a time when the defense contracting …

Read More »