Budget

Budgets? We don’t need no stinkin’ budgets

Budgets?  We don’t need no stinkin’ budgets

Democrats in the U.S. Senate won’t bother passing their own budget this year, arguing that a deal in December has already set spending levels for the 2015 fiscal year and “relitigating” it would create economic uncertainty. Senate Budget Committee Chairwoman Patty Murray said in a statement on Friday she would prefer to focus on promoting […]

Senate expected to send $1.1 trillion budget to Obama

Senate expected to send $1.1 trillion budget to Obama

Drained of much of its vitriol over the budget, Congress is poised to adopt a $1.1 trillion package financing federal agencies this year, a bipartisan compromise that all but banishes the specter of an election-year government shutdown. The Democratic-controlled Senate planned to give final congressional approval to the immense spending measure, possibly as early as […]

The new politics of budget compromise in Washington

The new politics of budget compromise in Washington

The muted market reaction to this week’s budget deal in Washington may initially seem like a disappointment. After all, uncertainty over government spending, debt and taxes has consistently emerged in business sentiment surveys as the biggest single factor holding back corporate investment and damaging financial confidence. Why then did Wall Street celebrate this breakthrough with […]

Battle weary, bipartisan House approves budget deal

Battle weary, bipartisan House approves budget deal

Battle-fatigued and suddenly bipartisan, the House voted Thursday night to ease across-the-board federal spending cuts and head off future government shutdowns, acting after Speaker John Boehner unleashed a stinging attack on tea party-aligned conservative groups campaigning for the measure’s defeat. The legislation, backed by the White House, cleared on a vote of 332-94, with lopsided […]

Budget deal gives Pentagon rare spending stability

Budget deal gives Pentagon rare spending stability

Working-age military retirees would see fewer dollars in their federal pensions and the Pentagon would get some long-sought stability in spending under Congress’ budget deal. The agreement eases some of the pain of the automatic, across-the-board spending cuts that past and current defense secretaries, senior military leaders and Congress’ defense experts have railed against for […]

Republicans, Obama express support for modest budget deal

Republicans, Obama express support for modest budget deal

Top Republicans and President Barack Obama are lining up behind a modest but hard-won bipartisan budget agreement that seeks to replace a portion of tough spending cuts facing the Pentagon and domestic agencies. The deal to ease those cuts for two years is aimed less at chipping away at the nation’s $17 trillion national debt […]

High-profile panel stumbles on trimming deficit

High-profile panel stumbles on trimming deficit

Since the end of World War II, more than a dozen high-profile bipartisan panels have been convened to tackle the nation’s thorniest fiscal problems. Seldom have their recommendations spurred congressional action. Their ambitious, high-octane reports and recommendations are mostly gathering dust on government shelves. Right now, congressional negotiators are struggling with a way to head […]