Walmart exec seen as budget chief

Mar 5, 2013

Walmart exec seen as budget chief

President Barack Obama on Monday was expected to nominate Walmart’s Sylvia Mathews Burwell as his next budget director, a senior administration official said. If confirmed by the Senate, Burwell would take the helm at the Office of Management and Budget at a time of ...

Mar 4, 2013

Kerry presses for unpopular reforms in Egypt

Well-known political opposition figures stayed away from meetings with visiting Secretary of State John Kerry on Saturday, some for fear of appearing too close to the U.S. in the still-unsettled politics of Egypt two years after the fall of a U.S.-backed dictator. Kerry encouraged ...

Governor plans takeover of failing Detroit

Mar 3, 2013

Governor plans takeover of failing Detroit

Michigan Gov. Rick Snyder prepared for a state takeover of Detroit, an epitome of urban decay, by declaring the Motor City in a state of financial emergency Friday. “Detroit can’t wait,” Snyder said at a televised town hall meeting. “We need to solve real ...

U.S. frees detained migrants as budget cuts loom

Feb 28, 2013

U.S. frees detained migrants as budget cuts loom

U.S. authorities revealed Tuesday that they have released hundreds of detained immigrants in recent days to trim expenses ahead of massive automatic budget cuts due to take effect this week. With days to go before the so-called sequester — $85 billion in across-the-board cuts ...

Feb 26, 2013

Is the U.S. near a tipping point for government debt?

by Neil Irwin

How much debt can America handle? The question is one of the most fundamental the nation faces, and the answer should determine how the United States handles the delicate task of reducing budget deficits without walloping economic growth. A new paper argues that the ...

Feb 20, 2013

Eased Civil Code debt-guarantor rules planned

The government plans to drastically ease debt-related rules under the Civil Code to sharply reduce the burden on guarantors. There have been many cases in which borrowers defaulted, leaving the guarantors, including some not adequately informed of the loan particulars, holding the debt. This ...

Cameron calls EU cuts a win

Feb 10, 2013

Cameron calls EU cuts a win

Prime Minister David Cameron claimed victory in his battle to slash the EU budget Friday, saying marathon talks proved that his promise of a referendum on EU membership had not left Britain isolated. Cameron had vowed to accept nothing less than a real-term freeze ...

Feb 10, 2013

Outline of European Union budget from 2014 to 2020

Actual spending, or “payments” in EU jargon, was set at €908.4 billion ($1.2 trillion), with an absolute ceiling of €960 billion for spending “commitments” ― the maximum amount that can be allocated to programs. The commitment figure is just 1 percent of the bloc’s ...

Feb 10, 2013

Canada talks end in deadlock

Two days of face-to-face meetings between Canada’s trade minister and his EU counterpart, ending late Thursday, failed to break a deadlock on the last stumbling blocks to reaching a free-trade pact. “Progress was made in several of the areas that remain outstanding. However, further ...

Obama urges deal to avoid 'sequester'

Feb 7, 2013

Obama urges deal to avoid 'sequester'

President Barack Obama on Tuesday urged Congress to head off deep, automatic spending cuts set to hit the Pentagon and other federal agencies on March 1 and replace them, at least for a few months, with a new debt-reduction package that includes fresh tax ...