Sequester budget impacts on jobs are exaggerated

Sequester budget impacts on jobs are exaggerated

Deep government spending cuts are unlikely to weigh on employment as heavily as initially feared, with most of the impact reducing hours worked rather than payrolls, according to economists. The non-partisan Congressional Budget Office last month estimated that the $85 billion in federal budget cuts known as the “sequester,” which started taking hold on March […]

Rand Paul: GOP must consider cutting military budgets

Rand Paul: GOP must consider cutting military budgets

Republican Sen.-elect Rand Paul says GOP lawmakers must be open to cutting military spending as Congress tries to reduce government spending. The tea party favorite from Kentucky says compromise with Democrats over where to cut spending must include the military as well as social programs. Paul says all government spending must be “on the table.” […]

Government debt reaches record $13 trillion

Government debt reaches record $13 trillion

US debt has reached 13 trillion dollars for the first time in history, the Treasury Department said Wednesday, stoking a political furor over government spending. Amid vast government outlays designed to end the economic crisis, the debt reached a record 13,050,826,460,886.97 dollars on June 1, according to official figures. The debt has increased by around […]