Earlier this evening, Speaker John Boehner announced that House Republicans will support a two-month extension of the payroll tax cuts. With a call for a final vote Friday morning, Boehner and the GOP leadership have abandoned their current push for a one-year extension of the cuts in order to pass the stopgap provision and end the political battle in time [...]
Adam presents: The Adventures of Supercommittee! Disguised as the mild-mannered Joint Select Committee on Deficit Reduction, the Supercommittee in fact has powers far greater than normal subgroups of legislators. Charged with cutting $1.2 trillion from the deficit, the Supercommitte is faster than a speeding bullet, more powerful than a locomotive, and able to leap tall legislative hurdles in a single bound, [...]
On August 2, the day the nation’s debt ceiling deal was finally enacted, we were given yet another example of how true moderation has ceased to exist in America. The deal inexplicably ignores reality by withdrawing $1 trillion from the economy despite pallid growth rates and cutting federal benefits for the unemployed despite soaring unemployment rates. It insists that we [...]
As far back as November President Obama was aware that Congress was going to have to raise the debt ceiling. It’s anyone’s guess why he thought it better to wait until the 112th Congress was seated in January, but he did. He was rewarded with weeks of grueling negotiations resulting in a deal passed by Congress on the final day [...]
Here we are — four days until the federal government hits the debt ceiling and Washington remains under lockdown as a debt limit increase bill has yet to be passed. The struggle, of course, is not over whether the debt ceiling will be increased — both parties are of the consensus that the limit must go up — but over [...]
We have arrived at crunch time. In 100 hours (give or take), the United States will no longer have money to pay the bills. Will the gas get shut off? Will we get harassing phone calls from China, Brazil, and Japan? No one quite knows. In an attempt to not find out, politicians in Washington, D.C., have been frantically negotiating, [...]
Lately, the economy has functioned almost like an earthquake. 2008 caused fractures all throughout the U.S. and even beyond—an earthquake so large that it almost entirely redefined the economic landscape so to speak. Since then, there have been nothing but aftershocks—minor economic problems when compared to 2008, but still enough to leave the world trembling. Now, it seems that the [...]
You can follow President Barack Obama’s news conference and House Speaker John Boehner’s (R-OH) response regarding current debt ceiling negotiations on live.cnn.com 9:25 p.m. A short set of news conferences tonight: Boehner’s arguments fall flat this evening – he is attacking Obama but without pointing out any real reasons to reject the spending cut in the Democratic proposals. 9:23 p.m. [...]
Congress has the ability to keep the US Treasury solvent or let the nation spiral into serious economic despair, dragging the rest of the developed world with it. But time is running out. Our government can’t seem to put its political differences aside. What it needs to do is reach an agreement to raise the debt ceiling and prevent the [...]
Many families can attest to the fact that balancing the family budget can be a struggle. It requires buying less or earning more, which is hard, but it eventually has to happen. And as muchpeople wouldn’t like to believe, just cutting out trips to the vending machine probably won’t solve the problem. The same principle is at work in our [...]
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