Obama sends 2015 budget wish list to Congress

Mar 5, 2014

Obama sends 2015 budget wish list to Congress

President Barack Obama sent Congress a $3.9 trillion budget Tuesday that would funnel money into road building, education and other economy-bolstering programs, handing Democrats a playbook for their election-year themes of creating jobs and narrowing the income gap between rich and poor. However, the ...

Mar 3, 2014

Detroit bankruptcy prods other cities to target pensions

Local officials in at least 10 states are trying to cut pensions of municipal workers, or eliminate defined-benefit plans, pointing to Detroit as a symbol of the peril of growing retirement costs. From New York to California, mayors and county officials are asking legislatures, ...

Jan 21, 2014

Trust in government plummets in global survey

Trust in elected leaders has fallen sharply, a global survey revealed Monday, citing the protracted budget battle in Washington that nearly saw the U.S. default on its debts and Europe’s stuttering response to its debt crisis as key reasons for the drop. Ahead of ...

U.S. Senate easily passes $1.1 trillion spending bill

Jan 17, 2014

U.S. Senate easily passes $1.1 trillion spending bill

Congress sent President Barack Obama a $1.1 trillion spending bill Thursday, easing the harshest effects of last year’s automatic budget cuts after tea party critics chastened by October’s partial shutdown mounted only a faint protest. The Senate voted 72-26 for the measure, which cleared ...

Jan 16, 2014

Hollande's reforms find favor in Germany

Germany on Wednesday welcomed the beleaguered French president’s “courageous” plan to spur the economy as a rapprochement toward its own approach, but analysts were skeptical about real change. Foreign Minister Frank-Walter Steinmeier, a Social Democrat in conservative Chancellor Angela Merkel’s right-left “grand coalition,” said ...

U.S. Congress hopes budget shows mettle

Jan 15, 2014

U.S. Congress hopes budget shows mettle

A chastened Congress is putting aside the crisis-driven budget battles of the past three years, embracing a $1.1 trillion U.S. spending bill that restores or smooths the sharpest edges of the automatic cuts imposed as a result of its own dysfunction. The huge election-year ...

Washington's $1 trillion bid to end its fiscal wars

Jan 14, 2014

Washington's $1 trillion bid to end its fiscal wars

Negotiators from the U.S. Senate and House of Representatives unveiled a $1 trillion spending bill late Monday, eliminating the threat of another government shutdown— at least until October. The high-stakes omnibus spending bill sets discretionary spending limits line by line for each federal agency ...

Senate passes deal to avoid new shutdown

Dec 19, 2013

Senate passes deal to avoid new shutdown

Congress declared a holiday truce in the budget wars Wednesday, sending President Barack Obama a blueprint for funding the government through 2015. But the next skirmish was already on the horizon: an election-year fight over the national debt. The budget deal that passed the ...