House slashes social safety net programs

House slashes social safety net programs

In a prelude to a summer showdown with President Barack Obama, Republicans controlling the House pushed to passage on Friday a bold but politically dangerous budget blueprint to slash social safety net programs like food stamps and Medicaid and fundamentally restructure Medicare health care for the elderly. The nonbinding plan lays out a fiscal vision […]

Oops! Obama mouths off into an open mike

Oops! Obama mouths off into an open mike

Now that the reporters were gone, President Barack Obama had some private thoughts to share with about 50 donors. His recollections of the recent spending negotiations with House Speaker John Boehner. His tough assessment about his main budget antagonist in Congress. His desire for “cooler phones” in the White House and better information technology. The […]

Obama signs six-month spending bill

Obama signs six-month spending bill

President Barack Obama signed a six-month spending bill Friday that cuts more than $38 billion from the current budget. The legislation averted a government shutdown and was the result of intense negotiations between the White House and emboldened Republicans. There was no signing ceremony. In an accompanying signing statement, however, Obama questioned the constitutionality of […]

Obama: GOP turning America into ‘third world’

Obama: GOP turning America into ‘third world’

President Barack Obama accused his Republican foes of wanting to turn the United States into a “Third World” country Thursday as he rallied support for his reelection campaign. The attack came a day after Obama savaged Republican budget plans and unveiled his $4 trillion deficit reduction drive that aims to raise taxes on the wealthiest […]

Why did a model Marine war vet takes his own life?

Why did a model Marine war vet takes his own life?

Handsome and friendly, Clay Hunt so epitomized a vibrant Iraq veteran that he was chosen for a public service announcement reminding veterans that they aren’t alone. The 28-year-old former Marine corporal earned a Purple Heart after taking a sniper’s bullet in his left wrist. He returned to combat in Afghanistan. Upon his return home, he […]

Obama signs bill rolling back part of health care law

Obama signs bill rolling back part of health care law

President Barack Obama has signed the first rollback of last year’s health care law, a bipartisan repeal of a burdensome tax-reporting requirement that’s widely unpopular with businesses. The bill Obama signed Thursday repeals a provision that would have forced millions of businesses to file tax forms for every vendor selling them more than $600 in […]

Feds crack down on lenders for foreclosure abuse

Feds crack down on lenders for foreclosure abuse

The federal government on Wednesday ordered 16 of the nation’s largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon. Government regulators also directed the financial firms to hire auditors to determine how many homeowners could have avoided foreclosure in 2009 and 2010. Citibank, Bank of America, JPMorgan Chase and Wells Fargo, […]

GOP wannabes pan Obama’s budget plan

GOP wannabes pan Obama’s budget plan

The Republicans vying to challenge President Barack Obama next year are universally panning his budget proposal as political gimmickry and another example of his inability to lead. The likely candidates lined up Wednesday against Obama’s budget proposal, which would cut the federal deficit by $4 trillion over 12 years by eliminating health care fraud, raising […]

Obama’s plan: Cut spending, tax the rich

Obama’s plan: Cut spending, tax the rich

President Barack Obama coupled a call for $4 trillion in long-term deficit reductions with a blistering attack on Republican plans for taxes, Medicare and Medicaid on Wednesday, laying down markers for a roiling debate in Congress and the 2012 presidential campaign to come. Obama said spending cuts and higher taxes alike must be part of […]

Obama tiptoes around tax hikes

Obama tiptoes around tax hikes

With his striking choice of words, President Barack Obama clearly outlined the greatest perils for Republicans — and for Democrats — in the nation’s high-stakes debate over spending and social programs. Obama used vivid, populist language in a forceful speech Wednesday to denounce the GOP plan for cutting spending and revamping Medicare and Medicaid. The […]