NEWS ABOUT: federal budget talks

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Washington's Plan: Avoid Repeat—by Aiming Low

Shutdown over, new budget talks begin

(Newser) - Next up in DC: House and Senate Budget Committee leaders have until Dec. 13 to agree upon a budget plan and ensure the whole mess doesn't happen again. Both sides say they're intent on avoiding another shutdown, and the New York Times reports on how they'll do... More »

Obama: Gay Marriage Bans 'Probably' Unconstitutional

President says debt sustainable for next 10 years

(Newser) - It looks like President Obama's views on gay marriage are continuing to " evolve ." When he first expressed his support for gay marriage last May, Obama also said he thought it was a state issue (a position he's since reaffirmed ). Now, however, the president is saying... More »

White House to Federal Agencies: Get Ready for Cuts

Budget office tells agencies to prepare for upcoming 'sequester'

(Newser) - In anticipation of the $85 billion in automatic spending cuts (the " sequester ") that kick in March 1 unless Congress makes a budget deal to avert them, the White House budget office told federal agencies yesterday to "intensify" their preparations. The agencies were asked to think up... More »

Gingrich to House GOP: Quit Threatening to Default

Instead, he suggests, focus on sequester, continuing resolution

(Newser) - Newt Gingrich has a message for House Republicans: Stop making empty threats. Congressional Republicans are saying they'll gladly default if President Obama doesn't agree to budget cuts as part of a debt ceiling deal, but that's "a fight they can't sustain," Gingrich said today... More »

Boehner: Why I Threw F-Bomb at Harry Reid

More WSJ goodies: 'I need this job like I need a hole in head'

(Newser) - John Boehner didn't seem to hold much back during his hour-long interview with Stephen Moore for the Wall Street Journal , which took place just after Boehner was re-elected House speaker . "I need this job like I need a hole in the head," the chain-smoking congressman says at... More »

Cliff Deal Proves the Era of Grand Bargains Is Over

The 'Big Deal' is dead: Jennifer Steinhauer

(Newser) - If the fiscal cliff deal passed by the Senate this morning makes one thing clear, it's this: "The era of the Big Deal is over," writes Jennifer Steinhauer in the New York Times . President Obama and John Boehner met numerous times, and so did other bipartisan groups,... More »

8 Senators Rejected Cliff Deal

3 Democrats, 5 Republicans said no to bipartisan plan

(Newser) - A deal to neutralize the fiscal cliff cruised through the Senate 89-8 in a late-night session and is headed for the House, whose session today begins at noon . The deal contains the first federal income tax hike in nearly 20 years, but the eight refuseniks weren't all Republicans, the... More »

World Markets Drop as US Teeters on Fiscal Cliff

Investors alarmed by failure to reach deal

(Newser) - Can American lawmakers hammer out a deal in time to avoid the fiscal cliff and toast the New Year? Investors worldwide are betting no. Uncertainty about budget negotiations and the future of the US economy drove down Asian markets on the last day of the year and European markets also... More »

Obama Will Return to DC Early Over Fiscal Cliff

President cutting short vacation as public pessimism mounts

(Newser) - The Christmas break has turned into Cliffmas for President Obama, who is cutting short his vacation in Hawaii to return to DC for a final attempt to strike a budget deal before the Jan. 1 fiscal cliff, the Washington Post reports. Obama will leave for Washington tonight after four days... More »

Dems Balk at Boehner's 'Plan B'

It would see taxes go up for millionaires only

(Newser) - John Boehner announced his "Plan B" to avert the fiscal cliff today—it would see taxes go up, but only for those making more than $1 million per year—but Democrats were quick to reject it. Both President Obama and Harry Reid said the approach won't protect middle-class... More »

Fiscal Cliff Deal Coming Together

But Obama, Boehner still haggling over numbers

(Newser) - President Obama made a fresh offer on the fiscal crisis to John Boehner yesterday and while it was rejected, the two sides are now so close together that it is no longer inconceivable that a deal to avert the cliff could be wrapped up by Christmas. The rundown:
  • The Obama
... More »

Obama, GOP Dig Heels in, 'Hundreds of Billions' Apart

White House, Boehner not budging much in latest proposals

(Newser) - President Obama and John Boehner traded fiscal cliff proposals Monday and yesterday, but the two sides remain miles apart, and the Washington Post reports that they don't appear to be giving any ground. Yesterday's Republican proposal was basically the same as one Obama rejected a week ago, but... More »

Boehner Accuses Obama of 'Slow-Walking' to Cliff

Says Obama's plan would make things worse

(Newser) - Earlier today, the Wall Street Journal declared that the fiscal cliff talks have "progressed steadily" and are becoming more "serious." Its proof? The fact that both parties at the table "have maintained a strict public moratorium on commenting on the talks." Uhh, scratch that. John... More »

Obama Will Take Budget Pitch to the People

Will attempt to rally public support for his compromise

(Newser) - President Obama learned some hard lessons during last year's debt ceiling talks, and he's heading into the new round to avoid the fiscal cliff determined to take his case to the people. Rather than "hunkering down" with congressional leaders behind closed doors for weeks—a strategy that... More »

Starbucks CEO to DC: No Donations for You!

Howard Schultz wants budget answers before opening his wallet

(Newser) - Maybe he should just refuse coffee to politicians. Starbucks CEO Howard Schultz is pleading to other corporate execs to stop contributing to political campaigns until the president and Congress come up with a realistic way to cut budget deficits, reports Politico . “This is a time for citizenship, not partisanship,... More »

Special Interests Gave 'Super Committee' Members $3M

Donors have a stake in spending cuts

(Newser) - The 12 members of the new budget super committee have received more than $3 million over the past five years from special interests directly affected by potential cuts, an AP review finds. The money came from groups linked to defense contractors, labor unions, and health care providers, and buffered the... More »

Jon Stewart Assembles the Super Committee

It's 'America's own legion of doofs': Jon Stewart

(Newser) - Imagine Jon Stewart's dismay when he discovered that after months of drama, the debt deal only shaved our deficit from $28.8 trillion to $26.3 trillion at the end of a decade. "That's what this whole f***ing thing was about?" he asked last night . Removing "... More »

All Eyes Turn to Deficit Panel, Herculean $1.5T Task

Committee must come up with $1.5T in cuts

(Newser) - The debt deal has been signed, but the work is far from over: Now a special committee must figure out how to cut $1.5 trillion more from the deficit. The bipartisan panel, which will be composed of six Democrats and six Republicans, was created by the measure after President... More »

Debt Ceiling Deal: Obama 'Surrendered'

Krugman: It's a 'disaster' for the country, and shows he'll surrender again

(Newser) - President Obama caved deeply in a debt deal that made the Republicans big winners, with both Andrew Leonard and Paul Krugman arguing that he "surrendered." Their take:
  • “In the end, President Obama had to admit surrender,” writes Andrew Leonard in Salon , detailing “a smashing victory
... More »

Senate Votes Down Reid's Plan

But real deal is still being worked on

(Newser) - As expected, the Senate voted today not to move forward with Harry Reid's debt ceiling proposal in a 50-49 vote. The Wall Street Journal notes that the vote was "anti-climactic," since the real work on hammering out a deal by the end of the day is happening... More »

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