Budget

10:38am

Wed January 23, 2013
The Two-Way

House Passes GOP's Debt-Ceiling Plan; Senate Democrats Offer Their Support

Originally published on Wed January 23, 2013 12:01 pm

The House of Representatives (Jan. 3 file photo).
Kevin Lamarque Reuters /Landov

Update at 1:25 p.m. ET: By a vote of 285-144, the House just passed a Republican plan that postpones for three months the federal government's next bump up against the so-called debt ceiling.

As we said earlier, the measure would head off another big battle over raising the government's borrowing authority — such as the one in 2011 that almost led to a government shutdown.

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3:52pm

Tue January 22, 2013
It's All Politics

President's New Term Doesn't Mean New Day In Congress

Originally published on Tue January 22, 2013 6:48 pm

The U.S. Capitol at sunrise on Monday, before President Obama's second inauguration. While the president raised big issues in his inaugural address — climate change, gay rights, immigration, the shooting of schoolchildren — none of them appear to top the agenda of Congress, which returned to work Tuesday.
Drew Angerer EPA /Landov

The Senate picked up Tuesday exactly where it left off nearly three weeks ago. By a twist of the rules, the Senate chamber remains in its first legislative day of the 113th Congress.

Senate Majority Leader Harry Reid, D-Nev., said he's kept things at the starting point so that he and his fellow Democrats have the option of changing the rules on the filibuster by a simple majority vote.

"The Senate will take action to make this institution that we all love, the United States Senate, work more effectively," Reid said Tuesday. "We'll consider changes to the Senate rules."

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4:22pm

Mon December 31, 2012
It's All Politics

Chief Justice John Roberts On Fiscal Woes: Don't Look At Us

Chief Justice John Roberts speaks in Farmington, Pa., in June.
Ann Wilkins AP

Chief Justice John Roberts wants everyone to know the federal judiciary is doing its part to keep down government costs. Roberts used his year-end report on the state of the courts to point out that the judicial branch consumes "a miniscule portion of the federal budget" — about $7 billion in fiscal year 2012, or two-tenths of 1 percent of the total government budget.

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1:31am

Tue November 13, 2012
It's All Politics

Fiscal Cliff Would Only Dent The Deficit

Originally published on Tue December 4, 2012 5:30 pm

House Speaker John Boehner, seen last week, discusses the looming fiscal cliff.
Brendan Hoffman Getty Images

Virtually everyone agrees that allowing the nation to fall off the fiscal cliff would be a bad thing.

Government programs would be cut, taxes would rise significantly on a majority of Americans, and according to the Congressional Budget Office, the economy would fall back into recession.

But get this: Even if all of those things happen, there would still be a budget deficit.

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1:21am

Fri October 5, 2012
Solve This

Romney, Obama Far Apart On Closing Budget Gap

Originally published on Fri October 5, 2012 3:33 am

President Obama and Republican presidential candidate Mitt Romney finish their debate at the University of Denver on Wednesday.
Saul Loeb AFP/Getty Images

Here's one thing President Obama and Republican presidential candidate Mitt Romney could agree on during their first debate this week: Something has to be done about the enormous gap between what the federal government collects in taxes and what it spends.

But the two men fundamentally disagree on what to do about that budget deficit.

The Problem

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