federal budget

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Obama: 'Radical' Ryan Budget a 'Trojan Horse'

Ryan shoots back that Obama is 'disappointing'

(Newser) - Barack Obama plans to savage the House GOP budget proposal today, calling it "thinly veiled social Darwinism," according to a draft of the speech he'll deliver. "It’s a Trojan horse," Obama will say. "Disguised as deficit reduction plan, it's really an attempt...

Paul Ryan's Budget Is Worse Than Pink Slime

Paul Krugman: It's history's 'most fraudulent' budget

(Newser) - Never mind that it's "inconceivably cruel" to cut taxes for the rich and aid for the poor: Perhaps the biggest problem with Paul Ryan's latest budget is that it's "surely the most fraudulent budget in United States history," writes Paul Krugman in the New ...

GOP Rolls Out Budget With Huge Tax Cuts

There would be just two brackets, with the top at 25%

(Newser) - House Republicans rolled out a new Paul Ryan-penned budget proposal today that calls for a drastic tax-code overhaul, major changes to Medicare and Medicaid, and deep cuts in domestic spending, all while softening a set of automatic defense spending cuts set to hit in January. The budget would scrap our...

GOP Rep: I'd Need to Shoot Senators to Pass Budget

John Sullivan of Oklahoma apologizes after violent comments

(Newser) - A House Republican apologized yesterday after Talking Points Memo spotted a clip of him saying he'd have to shoot some senators to pass Paul Ryan's budget. "I live with some senators, I yell at them all the time, I grabbed one of them the other day and...

Obama's Budget Sets Up Fight With GOP

He wants to beef up domestic spending, raise taxes on rich

(Newser) - The major news outlets are getting details of the budget plan President Obama will unveil on Monday, and it sounds like it's designed to set up election-year comparisons with Republicans. Two big themes: It calls for higher taxes on the rich and big spending on roads and manufacturing projects....

Congress Dodging Earmark Ban: Watchdogs

Lawmakers attach special funds to budgets to direct cash homeward

(Newser) - Congress' ban on earmarks doesn't seem to be stopping members from channeling money to home-state projects. These days, instead of tacking such projects on to bills, legislators are creating "slush funds" that ultimately serve the same purpose, watchdog groups tell the New York Times . Included in the Army...

Starbucks CEO to DC: No Donations for You!

Howard Schultz wants budget answers before opening his wallet

(Newser) - Maybe he should just refuse coffee to politicians. Starbucks CEO Howard Schultz is pleading to other corporate execs to stop contributing to political campaigns until the president and Congress come up with a realistic way to cut budget deficits, reports Politico . “This is a time for citizenship, not partisanship,...

Special Interests Gave 'Super Committee' Members $3M

Donors have a stake in spending cuts

(Newser) - The 12 members of the new budget super committee have received more than $3 million over the past five years from special interests directly affected by potential cuts, an AP review finds. The money came from groups linked to defense contractors, labor unions, and health care providers, and buffered the...

Nuclear-Waste Disposal Making Federal Budget Sick

Congress has spent the money set aside on other things

(Newser) - Nuclear-waste disposal isn’t just an environmental issue anymore—it’s a budgetary one. The Wall Street Journal today takes a look at the nation’s dysfunctional non-system for disposing of nuclear waste, and the story ain’t pretty. Nuclear sites are currently holding some 65,000 metric tons of...

Apple's Got More Cash Than the US

At least if you compare the right numbers

(Newser) - It’s official: The people who made your Mac now have more money than your government. As of the end of the day yesterday, the US had a $73.8 billion operating cash balance, Business Insider reports. Apple, meanwhile, had $76.2 billion. The figures aren’t exactly analogous, notes...

Senate to Stay in Session Until Debt Deal Done
 Reid: Senate Is Open 
 Until Debt Deal Done 
TICK TOCK, TICK TOCK
Jul 18, 2011 4:34 PM CDT

Reid: Senate Is Open Until Debt Deal Done

Obama says he will veto proposed budget amendment to Constitution

(Newser) - So much for the weekend plans of the United States Senate: The Chicago Tribune notes that Harry Reid said today he'll hold session every single day "from now until Congress passes legislation that prevents the United States from defaulting on our obligations." While little progress was made...

Obama on Debt Talks: 'I Will Not Yield'

...even though 'this may bring my presidency down'

(Newser) - We already knew last night's debt talks did not go well —but not only did President Obama leave "abruptly," he really put his foot down, Talking Points Memo reports: "I have reached the point where I say enough," he said, according to those present....

Obama: I Won't Sign Any 'Stop-Gap' Debt Deal

President says budget talks will continue 'every day'

(Newser) - Compromise was the theme of President Obama's press conference today, during which he acknowledged that yesterday's budget talks did not result in a deal—but promised that "we're gonna meet every single day until we get this thing resolved." He insisted that he and "...

Boehner to Dems: Cut 'Trillions' ... or Else

Speaker wants Medicaid part of the 'conversation' to boost debt limit

(Newser) - House Speaker John Boehner has warned Democrats to agree to at least $2 trillion in budget cuts or GOP legislators won't back measures to raise the federal debt ceiling, he told a rapt crowd of Wall Streeters and political leaders yesterday. He also insisted that Medicare is still on...

House Progressives Release Their Own Budget

Ends Bush tax cuts, adds public health care option

(Newser) - As the budget debate continues, the House Progressive Caucus has released a plan of its own—and it's all about taxes. Their proposal would end the Bush tax cuts, add new tax brackets for millionaires, and raise corporate taxes. It would also add a public option to health care...

Cantor Escalates Debt Ceiling War

GOP ready to plunge nation into default, he warns

(Newser) - Republicans have been outspoken about their opposition to raising the debt ceiling, but comments from House Majority Leader Eric Cantor yesterday appeared to escalate the battle. The GOP "will not grant [Democrats'] request for a debt limit increase" without serious spending cuts or budget process reform, he said,...

Tax Reform: The Simple, Perfect Budget Fix

Both parties can get what they want: just fix the 'lunatic' tax code, writes Clive Crook

(Newser) - Tax Day is a painful reminder that Form 1040 "is to personal finance as waterboarding is to asking some questions," writes Clive Crook in the Financial Times . But it doesn’t have to be: "If ever there were a free lunch, if ever there were a dollar...

No One's Being Honest About the Budget

Both parties' fixes amount to 'wishful thinking': Robert Samuelson

(Newser) - Republicans and Democrats both claim to have a plan to fix the budget, but neither party is offering a realistic approach. It’s time for Dems to admit that “spending control requires genuine cuts in Social Security and Medicare”—and it’s time for the GOP to recognize...

Limbaugh: Obama Fans 'Savages, Debris'

Savaging us is their 'orgasm,' Rush fumes

(Newser) - Rush Limbaugh has pulled out the shovel to heap abuse on supporters of President Barack Obama. Using language a bit harsh even for Rush, he called backers "savages" and "walking human debris." Obama's base "is made up of people even more vile than he is,...

Biden Appears to Nod Off During Obama Speech

Vice president takes a ribbing as video takes off

(Newser) - Only Joe Biden knows for certain, but it sure looks like he nodded off today during President Obama's big budget speech . Either way, the VP is taking a ribbing as the video makes the rounds: See ABC , Politico , Mediaite , and the Daily Caller .

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