budget crisis

Stories 1 - 20 |  Next >>

Illinois Ends Budget Standoff, Ups Income Tax Rate 32%

It was nation's longest fiscal impasse since the '30s

(Newser) - The Illinois House voted to override Gov. Bruce Rauner's vetoes of a budget package, giving the state its first spending blueprint in more than two years and ending the nation's longest fiscal stalemate since at least the Great Depression, the AP reports. Thursday's action eases some financial...

8 Senators Rejected Cliff Deal
 8 Senators Rejected Cliff Deal 
Jan 1, 2013 7:55 AM CST

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...

Debt Ceiling: Senate Votes Down Harry Reid's Plan, But Real Deal Still Being Worked On
 Senate Votes Down 
 Reid's Plan 
debt ceiling
Jul 31, 2011 12:48 PM CDT

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...

$2.4T Debt Deal Taking Shape?
 $2.4T Debt Deal Taking Shape? 
Jul 31, 2011 6:18 AM CDT

$2.4T Debt Deal Taking Shape?

Proposal would match debt ceiling relief to debt reduction

(Newser) - After weeks of posturing and pleading, with threat of a default just days away, news of a possible debt ceiling deal is dribbling out of Washington, first reported by ABC 's Jonathan Karl. The deal would raise the ceiling by $2.4 trillion in two phases, enough to last...

Obama on Debt Talks: 'I Will Not Yield'

...even though 'this may bring my presidency down'

(Newser) - We already knew last night's debt talks did not go well —but not only did President Obama leave "abruptly," he really put his foot down, Talking Points Memo reports: "I have reached the point where I say enough," he said, according to those present....

Obama: I Won't Sign Any 'Stop-Gap' Debt Deal

President says budget talks will continue 'every day'

(Newser) - Compromise was the theme of President Obama's press conference today, during which he acknowledged that yesterday's budget talks did not result in a deal—but promised that "we're gonna meet every single day until we get this thing resolved." He insisted that he and "...

Obama Ready to Cut Social Security

President pushing $4T deficit reduction plan

(Newser) - With Medicare already on the table , President Obama has signaled that the other big budgetary time bomb isn't safe from cuts: Social Security. The president is pressing congressional leaders to accept an ambitious plan to slash $4 trillion over the next decade, insiders say. He hopes to use the...

Dems' Possible Strategy: Declare Debt Ceiling Unconstitutional

Proponents say it violates the 14th Amendment

(Newser) - In their fight to raise the debt ceiling, a move largely opposed by Tea Party Republicans, Democrats are considering a surprise weapon—the Constitution. With negotiations at an impasse and default looming , Democrats are thinking of declaring the debt ceiling itself unconstitutional, as the 14th Amendment reads: "The validity...

Senator: Open Budget Talks or I'll Shut Down Senate

Ron Johnson threatens to block chamber's business

(Newser) - Every senator has the power to bring the chamber's business to a halt, but only freshman Ron Johnson is threatening to use it. The Wisconsin Republican vowed yesterday that he would block "business as usual" in the Senate by withholding his consent for basic procedures unless debt ceiling...

Angry Dems Seek Obama Challenger

Some House Dems outraged by budget deal

(Newser) - The budget deal President Obama hammered out with Harry Reid and John Boehner appears to have been the last straw for some Democrats—especially in the House. Democratic caucus members, including Nancy Pelosi, who voted against the budget deal are feeling ignored and disappointed, and some have even begun discussing...

Senate Rejects Move to Defund Planned Parenthood

Defunding bill shot down after passing House

(Newser) - A measure to defund Planned Parenthood was shot down in the Senate after passing the House by a vote of 241-185. The Senate vote was 42-58, with five Republicans rejecting the stand-alone measure: Sen. Scott Brown of Massachusetts, Mark Kirk of Illinois, Lisa Murkowski of Alaska, and Susan Collins and...

Jon Stewart on Paul Ryan's Budget Plan: Just Like Obamacare (Daily Show Video)
 Ryan's Plan? 
 Just Like Obamacare 
jon stewart
Apr 13, 2011 8:21 AM CDT

Ryan's Plan? Just Like Obamacare

But of course, now Republicans love it and Democrats hate it

(Newser) - Remember last year, when Republicans hated Obamacare because of "exchanges, difficult end-of-life decisions, cuts to vulnerable seniors"? Well, Jon Stewart does, and last night he informed America: "Guess what? [Paul] Ryan's plan is all that, plus a $750 billion cut to Medicaid. How do they characterize a...

Planned Parenthood Is 'LensCrafters' of Abortion: Bachmann

She also rips gay marriage, Department of Education

(Newser) - Republicans trying to woo conservative Iowans are likely to find Michele Bachmann a hard act to follow. The Minnesotan, speaking to a conservative group last night, slammed "liberal policies" on abortion, same-sex marriage, and health care reform, the Des Moines Register reports. She labeled Planned Parenthood the "LensCrafters...

DC Mayor Arrested at Budget Protest

'I’m tired of being pawn in political game,' grumbles Vince Gray

(Newser) - Washington Mayor Vincent Gray and several city council members were among 41 people arrested at a Capitol Hill protest against the budget deal yesterday. Gray and his colleagues were charged with unlawful assembly for blocking passage on the street and were taken to a Capitol Police facility before being released...

Where Are the Adults in DC?
 Where Are the Adults in DC? 
NICHOLAS KRISTOF
Apr 10, 2011 7:50 AM CDT

Where Are the Adults in DC?

Both parties are 'incompetent and cowardly,' says Kristof

(Newser) - Both the Democrats and Republicans are acting like squabbling adolescents, slams Nicholas Kristof in the New York Times . "It’s unclear where the adults are, but they don’t seem to be in Washington," he says, adding "it’s painful how vapid the discourse is and how...

Hoyer on Budget Deal: '70% of the Way' There

No deal yet, but 'very close' to compromise

(Newser) - As the clock ticks down, House Minority Whip Steny Hoyer says budget negotiators are "very close" to a deal. "I think we've come 70% of the way in terms of dollars," Hoyer tells Today . "That's a long way to go in trying to reach compromise."...

Still No Deal After Latest White House Talks

Obama expecting final answer on budget deal Friday morning

(Newser) - President Obama emerged from the third White House meeting with Harry Reid and John Boehner in 24 hours Thursday night without a deal to avert a government shutdown at midnight Friday. The president told reporters that differences still remain between the two parties, adding "I’m not yet prepared...

Budget Meeting Fails to Avert Shutdown

Shutdown would be 'inexcusable,' Obama says after talks with Reid, Boehner

(Newser) - President Obama emerged from a late-night meeting with John Boehner and Harry Reid Wednesday with no deal to avert a government shutdown. The president told reporters, however, that the 90-minute talk had helped to "narrow the issues" and he's still confident that a deal can be forged before the...

Dems 'Win' if Government Shuts Down: Boehner

And with no compromise yet reached, that possibility looms

(Newser) - The possibility of a government shutdown looms larger today after yesterday's back-to-back meetings in Washington failed to bring a compromise. For the past week, House Republican leaders and Senate Democrat leaders have been discussing $33 billion in cuts, but John Boehner yesterday said he may seek up to $40 billion....

Dems Act Like Jerks as GOP Shreds Constitution

Jon Stewart has no kind words for either side

(Newser) - On last night's Daily Show , Jon Stewart summed up the continuing budget crisis thusly: "So Democrats want $30 billion in cuts, Republicans want $60 billion in cuts. Rather than both sides going, well, how about $45 (billion), we're going to shut the government down." And, true to form,...

Stories 1 - 20 |  Next >>