Obama on Sequester: ‘No Smart Way’ to Cut $85 Billion in 7 Months
Meanwhile, Fed Chairman Ben Bernanke said the cuts would cause a 0.6 percentage-point drag on growth this year, and Speaker Boehner said senators should "get off their ass" and pass a replacement.
Sequestration Cuts Imminent; Government Shutdown Looms
As the nation braced for the $85 billion in sequestration cuts to kick in on March 1, Joe Lieber of Washington Analysis laid out the “numerous tools available” to blunt sequestration’s impact.
Obama Presses for Delay, but Sequestration Cuts Imminent
President Barack Obama urged Congress Tuesday to delay the looming sequestration cuts by passing a package of both spending cuts and tax hikes, but reports said Wednesday that Obama’s plan was DOA in the House.
Obama: GOP Holds Nation Hostage on Debt Ceiling
President Obama dispelled any doubt Monday as to whether the fiscal fight over government spending is going to be bare-knuckled.
House Passes Fiscal Cliff Bill, Averting Plunge—for Now
House passes Senate bill, 257-167, shortly before midnight, sending legislation to President Barack Obama to sign.
House Takes Up Senate’s Fiscal Cliff Bill
Legislation to negate a fiscal cliff of across-the-board tax increases and sweeping spending cuts to the Pentagon and other government agencies is headed to the GOP-dominated House after bipartisan, middle-of-the-night approval in the Senate.
Senate Pushes House on Fiscal Cliff
Speaker of the House John Boehner called for Congess to reconvene on Sunday.
Fiscal Cliff – Bring It On: News Analysis
The issue is how Americans spend money, but rational analysis has been absent from our political discourse. Only pain will prompt appropriate aversion to consuming more than our resources allow.
Hope Dims for Fiscal Cliff Deal Before Christmas
A Christmas miracle on the fiscal cliff faltered after House Speaker John Boehner called an abrupt recess for the House, handing responsibility for a deal to President Obama and the Democrats.
Global Stocks Drop as U.S. Fiscal Cliff Deal Fails
Without an agreement, the U.S. economy will fall off the so-called fiscal cliff on Jan. 1 when Bush-era tax cuts expire and spending cuts kick in automatically.