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NEWS ABOUT: government spending

'Gang of Six:' $3 in Cuts for Every $1 Raised

There's something for everyone to hate

(Newser) - The budget plan the bipartisan Gang of Six ultimately devises will include $3 of spending cuts for every dollar it raises in additional tax revenues, Mark Warner tells Bloomberg , promising cuts in health care, defense, agriculture, and other domestic programs, along with changes to Medicare, Medicaid, and Social Security. The... More »

Shutdown Averted, Higher Stakes Loom

Battles brewing over debt ceiling, 2012 budget will be even bigger

(Newser) - If you think the narrowly averted government shutdown over a few billion dollars was bad, wait until you see the multi-trillion-dollar brawls coming in the next few weeks, reports the Wall Street Journal . First up, the government is about to hit its legally imposed $14.294 trillion debt ceiling by... More »

Tea Party on Budget Deal: 'We Won' to 'Disappointed'

Not everybody's happy, but Boehner doesn't have a mutiny on his hands

(Newser) - John Boehner put a happy face on the grinding budget deal reached last night, but reactions varied among the GOP rank-and-file—specifically those with their eye on the Oval Office. Some reactions from around the Beltway, courtesy of Politico:
  • Michele Bachman: “The deal is a disappointment for me and
... More »

Now They Can't Agree on What They Disagree About

Boehner says it's about spending; Reid says it's abortion

(Newser) - With the midnight deadline creeping closer, there's been plenty of partisan rhetoric today but still no budget deal. Harry Reid and John Boehner even disagree on the main sticking point, reports the Washington Post . Reid contends that the two sides have agreed on $38 billion in cuts and that the... More »

New GOP Budget Would Cut $4T

Plan would drastically slash Medicare

(Newser) - In an attempt to reframe the budget debate, Republicans are proposing a 2012 budget that features $4 trillion in spending cuts over the next decade—and would end Medicare as we know it, reports the Wall Street Journal . Democrats won’t likely support the 2012 plan, helmed by House Budget... More »

Tea Party Rally Message: 'Cut It or Shut It'

Members urge Republicans to push for even deeper cuts

(Newser) - Amid signs of a potential deal to avoid a government shutdown, a group of Tea Party activists gathered in DC today to urge Republicans to keep on slashing. "Cut it or shut it," and "We want less," went the chants outside the Capitol, reports the Hill... More »

No. of Reps Who Donated to National Debt in 2010: 3

But even if they gave full salaries, they'd barely make a den

(Newser) - For a bunch of people so concerned with the growing national debt, the House of Representatives doesn't have a lot of members putting their money where their mouths are. The House has program that allows representatives to return a portion of their salaries toward debt reduction (the Senate doesn't even... More »

One-Third of US Wages? Government Handouts

Social welfare benefits make up 35% of wages and salaries

(Newser) - More than a third of the total wages and salaries in the US is made up of government payouts, CNBC reports. Social welfare benefits including Social Security, Medicare, and unemployment insurance account for 35% of wages and salaries—a record figure that is up from 21% in 2000 and 10%... More »

White House Offers Another $6.5B in Cuts

Officials: We're meeting GOP 'halfway' with budget proposal

(Newser) - The White House has proposed another $6.5 billion in spending cuts, its latest offer in an effort to avoid a government shutdown as another deadline looms. Vice President Biden brought the proposal to talks with congressional leaders yesterday. While it’s far less than the House’s proposed $61... More »

Senate Passes Spending Bill, Avoids Shutdown

Temporary measure cuts $4 billion, will last 2 weeks

(AP) - Congress is sending President Obama a Republican-drafted bill to trim $4 billion from the budget to keep the government running for two more weeks. The Senate cleared the measure by an overwhelming 91-9 vote that gives the GOP an early but modest victory in its drive to rein in government.... More »

Public Would Blame Everyone for Shutdown

Equal numbers blame each side

(Newser) - If Democrats think a government shutdown might help them politically, they might want to think again: A new survey indicates that the public would blame both parties equally for the shutdown. In a Washington Post poll, 36% say they’d blame Republicans for the shutdown, while 35% say they’d... More »

Government Shutdown Likely Averted, for Two Weeks

Democrats respond favorably to John Boehner's plan

(Newser) - Looks like a government shutdown has been avoided—for two weeks, at least. Democrats responded favorably last night to a Republican plan for a temporary, two-week extension that would allow the government to continue operating. The trade-off? It also requires a first installment of $4 billion in budget cuts to... More »

Obama to Propose Middle-Ground Budget Cuts

Proposed cuts will reduce deficits by $1.1T over 10 years

(Newser) - The budget cuts President Obama will propose tomorrow likely won’t be as deep as Republicans want , but they will nonetheless promise $1.1 trillion in deficit reductions over the next decade, according to a senior administration official. Among the proposed areas to be affected in the fiscal 2012 budget:... More »

Obama's Next Budget Cut: Heating Aid for Poor

Move likely to draw sharp opposition from Democrats

(Newser) - President Obama’s 2012 budget proposal will include a drastic cut in a program that gives heating assistance to poor people, officials tell the National Journal . The move is likely to draw sharp opposition from Obama’s own party; earlier today, Chuck Schumer called a similar Republican proposal “extreme,... More »

Palin: Obama's Theme Is Winning the Future—or WTF

Get it? Get it? Also, we need to cut 'fluffery' spending on NPR

(Newser) - Sarah Palin, not surprisingly, wasn’t a fan of President Obama’s State of the Union address . She joked with Greta Van Susteren last night that his theme “was the WTF, you know, winning the future ,” which was appropriate because “there were a lot of WTF moments... More »

Righties to Unveil $2.5T in Spending Cuts

Proposal would cut or drastically shrink more than 50 programs

(Newser) - House Republicans are about to unveil a massive spending reduction bill that would slash $2.5 trillion in spending over the next 10 years. Rep. Jim Jordan, chair of the Republican Study Committee, will unveil his “Spending Reduction Act” at a Heritage Foundation speech today, the Daily Caller reports.... More »

First Debate for GOP 2012: Tax Deal

Tea Partiers hate it, mainstream contenders support it

(Newser) - There’s still a while to go before the official 2012 debates begin—but we have the first unofficial one on our hands, in the form of President Obama’s tax deal. Despite strong support in a vote Monday (only five Republican senators voted against it), 2012 contenders are drawing... More »

House Passes $1.1T Spending Bill

Stripped-down bill freezes spending

(Newser) - The House has staved off a government shutdown by passing a $1.1 trillion bill funding government operations through October 2011. The measure, which covers everything from the military to national parks, is essentially last year's budget extended with a few tweaks, Reuters reports. Earmarks were prohibited and $46 billion... More »

Romney: Obama Must Kill Big Gov't

Ex-governor tells Obama to seize his 'Nixon to China' moment

(Newser) - In the wake of the election, Mitt Romney thinks Barack Obama should “seize his ‘Nixon to China’ opportunity.” And by China, he means the US government. “Government is a greater threat to America in 2010 than China was in 1972,” Romney writes in an op-ed... More »

Deficit Breaks $1T Again

Budget gap shrinks, but is set to grow

(Newser) - The federal budget deficit is set to break a trillion dollars for the second year in a row, the Obama administration is set to report today. Officials foresee a deficit of $1.29 trillion for the 2010 budget year that ended Sept. 30, the AP reports, down from last year’... More »

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