Account
Of the many distasteful elements to the year-end "fiscal cliff" that Washington is desperately trying to avoid, few are more loathed than the automatic, indiscriminate spending cuts scheduled to begin on Jan. 2.Yet a repeat of this agonizing drama could play out next summer.That is because Congress, as part of deal to avert the year-end fiscal cliff of steep tax increases and across-the-board budget cuts, is likely to enact another forcing mechanism, or trigger, to make sure it keeps its latest round of deficit-reduction promises.Lawmakers say automatic cuts and tax changes will be needed later because there is too little time now to get specific, with Congress racing to undo the damage it did in 2011.At best, President Barack Obama and House of Representatives Speaker John Boehner will agree on broad targets for increased tax revenues, cuts to federal healthcare and retirement programs and other savings."We are going to need an enforcement mechanism," said Representative James Lankfor...
David Rubenzahl, president of Maxon Administrators, answers questions about health-care reform from President Obama's town-hall meeting.
Sen . Ben Cardin , (D-Md.), on Obama’s vision for America’s economic future.
Senators from both parties raised concerns Thursday about Moscow's record on human rights and foreign policy, highlighting the difficult task facing the Obama admini...
WASHINGTON (Reuters) - More than 60 Russianslinked to the death of an anti-corruption lawyer would bebarred from the United States and its financial markets under ab...
* Aid to Gulf states hurt by BP could enhance chances (Repeats to include proper date in dateline)By Richard CowanWASHINGTON (Reuters) - Lingering concern among vote...
By Richard CowanWASHINGTONx (Reuters) - Lingering concern among voters about BP's massive oil spill in the Gulf of Mexico means that efforts to tighten regulations o...
Sen . Ben Cardin , (D-Md.), on measures the federal government is taking to prevent future terrorist attacks.
Sen. Benjamin Cardin (D-Maryland) on what to expect from Obama's health-care reform pitch.
