U.S. House votes to raise debt limit, cut spending Updated: Mon, Aug 1, 2011 WASHINGTON (AP) — The House of Representatives has passed legislation designed to keep the government from defaulting on its debts. The measure also sets a course for reducing the federal deficit in the future. The Senate, where support is stronger, is expected to take up the bill on Tuesday, the deadline for... Read More

GOP lawmakers press Obama for specific budget cuts Updated: Wed, Jun 1, 2011 WASHINGTON — Top House Republicans said they pressed President Barack Obama Wednesday for more leadership and a detailed plan on budget cuts, with one leading lawmaker accusing him of mischaracterizing a GOP Medicare proposal at the center of a partisan divide over spending. The meeting at the White House... Read More

S&P cuts long-term outlook for US debt to negative Updated: Mon, Apr 18, 2011 WASHINGTON (AP) — Standard & Poor's Ratings Service downgraded its outlook Monday on U.S. government debt, expressing unprecedented doubts over the ability of Washington to bring the massive federal budget deficits under control. The agency lowered the long-term outlook to "Negative" from "Stable," saying... Read More

Obama pivots, eyes Medicare changes, tax increases Updated: Wed, Apr 13, 2011 WASHINGTON (AP) — Challenging Republican budget plans, President Barack Obama on Wednesday proposed lowering the nation's future deficits by $4 trillion over a dozen years through a blend of specific measures and vague objectives designed to lower spending in politically sensitive health care programs while also... Read More

New Congress Must Face Deficit Published: Tue, Nov 9, 2010 As the political analysts examine the possibilities that this year's general election can make, the real question is whether it will make any difference in the policies that will affect our economy in the next two years. Read More

Blog Spot: Issue dividing Republicans Updated: Tue, Nov 15, 2005 The U.S. House is expected to vote this week on a deficit reduction act. The vote was delayed last week when moderate Republicans came out against it even though House leadership took out a provision to allow drilling in the Alaska National Wildlife Refuge. This issue has caused a rift in the Republican party and... Read More

Fed should stop sitting on hands Updated: Sun, Dec 24, 2000 If you're a working American, the Federal Reserve sent you a nasty Christmas present on Tuesday. That's the day the governors of the Federal Reserve Board could have and should have lowered interest rates. Instead, they sat on their hands -- again. There's little doubt that the economy is foundering. You see it in... Read More

Still no pocket change Updated: Sun, Oct 22, 2000 WHAT should we do with all that money sloshing around Washington? Should we save Social Security first? Should we cut taxes? Boost federal spending? Pay off old debt? Since Washington appears to have eliminated the budget deficit, politicians are dreaming big. We've got all those extra billions of dollars, don't... Read More