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Debt limit stalemate threatens defense spending

Debt limit stalemate threatens defense spending

Once unthinkable in a time of two wars, Democrats and Republicans alike are insisting that the billions spent on the military can be significantly cut back over the next decade…

Divided Republicans postpone debt limit vote

Divided Republicans postpone debt limit vote

The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle…

Economy continues to slow down

Economy continues to slow down

The economy likely grew in the first half of the year at the slowest pace since the recession ended, and the second half isn’t looking much better. Weak consumer spending,…

Tea party Congressman owes $117k in child support

Tea party Congressman owes $117k in child support

Illinois Rep. Joe Walsh, the tea party-backed Republican who squeaked into office last year by vowing to bring fiscal responsibility to Washington and who has been one of President Barack…

Dysfunctional House sets vote on doomed GOP debt limit bill

Dysfunctional House sets vote on doomed GOP debt limit bill

House Republicans are pressing ahead with a vote on a newly modified plan to stave off an unprecedented government default next week even though the legislation faces a White House…

Short-term or long-term? That is the question

Short-term or long-term? That is the question

It’s a central question in the debt ceiling debate: How long should the nation’s new borrowing authority last? From the start, President Barack Obama has insisted that Congress must raise…

Ouch! Government health care costs will hit $4.6 trillion by 2020

Ouch! Government health care costs will hit $4.6 trillion by 2020

The nation’s health care tab is on track to hit $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy, government number crunchers estimate in a…

Right-wing puts Boehner in a vise

Right-wing puts Boehner in a vise

Neither the House nor the Senate has a clear path forward for must-pass legislation to allow the government to continue to borrow to pay its bills, putting lawmakers and financial…

Lots of hype, few actual spending cuts

Lots of hype, few actual spending cuts

They may promise to reduce federal spending by $3 trillion or thereabouts, but the immediate spending cuts in rival budget and debt proposals by House Speaker John Boehner and Senate…

Lots of posturing, no movement towards debt deal

Lots of posturing, no movement towards debt deal

Rival Democratic and Republican plans to raise the government’s borrowing ability have thrust Congress into a standoff just one week away from a potentially devastating debt crisis. President Barack Obama…