When President Obama unveiled his 2014 budget on Wednesday, he called it “responsible” and a “compromise.” Color Republicans skeptical. “The president’s budget isn’t a compromise,” said Rep. Jackie Walorski, R-Ind., in the weekly GOP address on Saturday. “It’s a blank check for more spending and more debt.” Walorski scalded the president’s budget for proposing new [...]

Share on Facebook

Throughout this week we have done a lot of analysis of budget resolutions as they have been released, breaking down many aspects of their policies and estimates. Now it’s time to take a step back and see how the House Republican (Ryan), Senate Democratic (Murray), Congressional Progressive Caucus (CPC), and Congressional Black Caucus (CBC) budgets [...]

Share on Facebook

Some have criticized House Budget Committee chair Paul Ryan’s budget for being too ambitious in certain respects – defunding ObamaCare, reducing tax rates and dramatically simplifying the rate structure, and repealing the hated Alternative Minimum Tax, for example.  But in addition to having the courage to propose good ideas just because they are the right [...]

Share on Facebook

The Treasury Department is telling its staff not to worry about the “fiscal cliff,” an internal memorandum sent to all employees reveals. The memo, which is signed by the deputy secretary of the treasury, Neal S. Wolin, states that “there is no reason why both sides should not be able to come together” to reach a deal. [...]

Share on Facebook

WASHINGTON (Reuters) – Had there been a vote on Republican House Speaker John Boehner’s “Plan B” to avert the so-called U.S. fiscal cliff on Thursday night, it would not have been close. He was probably 40 to 50 votes short of the number he needed to avoid a humiliating defeat at the hands of his [...]

Share on Facebook

(CNSNews.com) – The federal government ran a deficit of $292 billion for the first two months of fiscal year 2013 – October and November 2012 – amounting to $4.8 billion of borrowed money each day. “The federal budget deficit was $292 billion for the first two months of fiscal year 2013, $57 billion more than [...]

Share on Facebook

This is a rush transcript from “On the Record,” December 6, 2012. This copy may not be in its final form and may be updated. GRETA VAN SUSTEREN, FOX NEWS HOST: Should anyone in Washington be going on vacation in the middle of this FISCAL CRISIS? Should the president be jetting off to Hawaii? Now, [...]

Share on Facebook

By: Charles Krauthammer WASHINGTON — Why are Republicans playing the Democrats’ game that the “fiscal cliff” is all about taxation? House Speaker John Boehner already made the pre-emptive concession of agreeing to raise revenues. But the insistence on doing so by eliminating deductions without raising marginal rates is now the subject of fierce Republican infighting. [...]

Share on Facebook

The post-election negotiations on U.S. deficit reduction that began with a surge of optimism sputtered this week with Republicans expressing political indignation over President Obama’s opening offer to keep a $500 billion mix of tax hikes and federal spending cuts from kicking in next month should no deal be reached. “There has been no substantial [...]

Share on Facebook

(CNSNews.com) – House Minority Leader Nancy Pelosi (D-Calif.)  said on Friday that Congress should hand over to President Barack Obama the power to unilateral increase the limit on the U.S. government’s debt. In effect, under the plan Pelosi is endorsing, the only limit on the national debt would be President Obama’s willingness to borrow money in the [...]

Share on Facebook