The U.S. Treasury is $235 billion short of the $16.4 trillion borrowing limit and could reach that ceiling before the year ends, Reuters reports. Using emergency measures would avert a default and
MoreWith 70 days to go until the start of sequestration, Defense Secretary Leon Panetta told reporters at a Thursday Pentagon news conference Congress needs to go to work as soon as the
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A new Center for Strategic and International Studies report reveals the increased military spending of China, India, Japan, South Korea and Taiwan from 2000 to 2011, Defense News reports. According to Zachary
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Democrats on the House Appropriations Committee estimate the Defense Department will have to cut $60 billion from its fiscal year 2013 budget if sequestration takes effect, according to AOL Defense. That figure
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A bipartisan group of senators has sent a letter to Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.), saying Congress and the president should not wait until January
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The Senate voted Saturday to approve a six-month stopgap measure, extending funding for the federal government through March 27, 2013, GovExec reports. According to Kellie Lunney’s article, the measure sets fiscal year
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Joe Jordan serves as administrator at the Office of Federal Procurement Policy, having been confirmed by the Senate in May to succeed Dan Gordon. According to the White House, Jordan is responsible
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If budget cuts under sequestration kick in starting Jan. 2, most defense spending would go down 9.2 percent, including 10 percent from Defense Department line items not subject to congressional approval. In
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A Metropolitan Washington Council of Governments survey recommends the D.C. area look to economic diversity beyond the government and federal contracting if sequestration cuts occur, WTOP reports. Over the long term, the
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The top Democrat on the House Appropriations Committee believes Congress will find a way to avoid the sequestration cuts scheduled to start in January because of potential consequences of the cuts, the
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