Congress approved a two-month payroll tax cut extension on Friday, capping an exhausting year of partisan warfare over taxes and spending that will resume in January, with the economy barely scratching out a recovery and elections on the horizon.
Each year millions in government funds intended to help veterans get back to work go to firms where owners have lied about being disabled vets, according to government watchdogs.
Republican lawmakers escalated a year-end showdown with the White House, putting off a vote on extending a payroll tax holiday demanded by President Barack Obama until Tuesday.
Budget cuts in a program to spur commercial space taxis will likely keep the United States dependent on Russia to fly astronauts to the International Space Station until 2017, NASA's head of space operations said on Thursday.
The Eurozone met and little was apparently accomplished! A casual market watcher on Friday (i.e. stock markets) in the U.S. and around the world, would have, in the absence of any below-the-surface analysis, have most likely said that based on the
With deeper budget cuts looming, the Pentagon is starting to cut back by trimming the Defense Department’s civilian workforce.
It's worth revisiting why the memory of hyperinflation has seared itself into the minds of many Germans, and how it's shaping their thinking and the future of the euro itself.
Individual investors who purchase more than 10 million yen ($129,000) of debt with a 0.05 percent return and keep it for three years will receive a gold commemorative coin weighing 0.55 oz, worth about $948 based on current prices.
The blue social model is collapsing. So proclaims Walter Russell Mead. . .In different ways, the rural and suburban red state model is as unsustainable as that of the liberal enclaves on the coasts.
The bipartisan bozos in Washington - the super-committee tasked this summer with working out a new budget by the day before Thanksgiving - are reported to be on the verge of announcing failure to reach agreement on a new budget.
Military contractors have billions at stake in the battle of the budget. In recent years military spending has reached its highest levels since World War II. Companies like Lockheed Martin, General Dynamics and Raytheon have seen their contracts doub
With time running out for Congress's special deficit-reduction committee, the two sides Monday were grappling for ways to inch closer on the crucial issue of taxes.
Federal spending is a top driver of business activity, the possibility of a government shutdown over spending cuts is a front-and-center issue for analysts and the media. The topic becomes additionally worrisome for companies who fully depend on gove
The sequestration of $500 billion of military funding over the next 10 years would force the military-industrial complex of the U.S. into a much needed and long-overdue prioritization of military spending, and the elimination of that which is least n
Republican presidential candidate Mitt Romney proposed limiting government spending to only “essential” programs in a debt-reduction plan that would slash $500 billion from the federal budget by 2016, the end of his first term if he is elected next y
Or better yet, read'em and try not to lose sleep! The world knows only too well the crisis that is currently consuming Greece, the rest of the EU and by extension the globe. A huge two-day drop in the global markets is a testament to that fact
I love this perception that the trigger must be avoided at all costs, or the evil across-the-board cut will be initiated. Of course, the cuts don’t begin until January 2013, giving Congress ample time to change them or just flat-out nullify them. Sta
McCain wants to repeal the part of the debt-ceiling deal that triggers automatic cuts to defense spending if the supercommittee fails to reach agreement on its own plan to reduce the deficit by $1.2 trillion over 10 years. "We can reverse it.”
Republican presidential candidate Ron Paul on Monday unveiled a plan to cut $1 trillion from the federal budget within one year by eliminating a handful of federal departments, including the Energy and Education departments.
Senate Majority Leader Harry Reid (D-Nev.) on Wednesday indicated Congress needs to worry about government jobs more than private-sector jobs, and that this is why Senate Democrats are pushing a bill aimed at shoring up teachers and first-responders.
It is central banking's money creation and low interest rates that created the fuel for this last catastrophic bust that has – evidently and obviously – virtually ended the dollar reserve system.
Bank foreclosure is simply the "progressive" socialist seizure of your capital assets by "legal" means, as opposed to the fast and bloody means used by Stalin or Mao. Your slavery is central bankers' goal in practicing "Vulture Capitalism"!
A government report released on Friday predicts that the federal budget hit a near-record $1.3 trillion in the just-completed fiscal year. The figure matches last year's deficit tally but shows slight improvement over a record set two years ago.
That's what a purported London-based independent trader named Alessio Rastani told the BBC on Monday in a jaw-dropping interview that quickly went viral.
As the Obama administration announced plans for hundreds of billions of dollars more in domestic budget cuts, it late last week solicited bids for the construction of a massive new prison in Bagram, Afghanistan.
The horrific attacks of September 11, 2001 brought to light a massive communications crisis concerning America’s emergency response system and wireless communications. The Help Emergency Responders Operate Emergency Systems (HEROES) Act helps address
This chart of the 1-year Greece government bond seems to indicate that the potential for a default by that country is very close to 100%! What would that mean for other EU countries and the global economy?
Before 9/11, Defense Secretary Donald Rumsfeld had promised a leaner, meaner war fighting machine, with fewer soldiers bearing better high-tech weapons at less cost. That vision was quickly replaced with the biggest build-up of military hardware sinc
"No organization crucial to national security spending really has much of an idea of how well or badly it is spending vast sums of taxpayer money -- and worse yet, Congress knows even less" - Chris Hellman
The agency is so low on cash it is facing a pending default unless Congress takes immediate action.