(CNN) - With another big deadline looming this summer over raising the limit on how much money the government can borrow to pay its bills, Washington could find itself embroiled in new fiscal gridlock.
If talks on the so-called debt limit falter, the government could default on its obligations. That could lead to a series of financial and political consequences.
(CNN) - House Budget Committee Chairman Paul Ryan's latest Republican proposal to balance the federal budget and reform Medicare predictably drew sharp reviews from Democrats.
But at the Conservative Political Action Conference - which Ryan described Friday as a place where he could "catch up with friends" - he was slammed on Saturday by conservative activist Brent Bozell.
Oxon Hill, Maryland (CNN) - Republicans hoping to win a national election need to adopt an "optimistic" and "relevant" message, Wisconsin Gov. Scott Walker told an enthusiastic crowd of conservative activists Saturday.
The tea party favorite, who survived a recall election in 2012 after curbing collective bargaining rights for public employees, said the GOP's focus on fiscal issues like the federal debt and spending cuts ignore policies that have a real effect on Americans' lives. Instead, he argued Republicans should look beyond Washington to find a new direction for the party.
Washington (CNN) - As Washington continues its haggling over spending cuts and tax increases, Rep. Paul Ryan sought to explain to Americans on Saturday why eliminating the federal deficit was a worthwhile goal.
The House Budget Committee chairman unveiled a plan earlier this week that aims to balance the budget in a decade, a much quicker goal than in previous plans.
(CNN) - Three days after he unveiled the GOP budget, Rep. Paul Ryan stayed focused on the country's fiscal problems during his address to the Conservative Political Action Conference and took a dig at the Democrats' own budget proposal in the Senate.
"You know, this has been a really big week. We got white smoke from the Vatican and we got a budget from the Senate," he said to applause. "But when you read it, you find that the Vatican's not the only place blowing smoke this week."
New York (CNNMoney) – Millionaires would get a sizable tax cut if Rep. Paul Ryan's budget proposal were to become law.
Those with incomes exceeding $1 million would enjoy an average tax cut of more than $200,000, according to Citizens for Tax Justice, a left-leaning group. And it could be even bigger if Congress doesn't try to limit tax deductions, credits and preferences to offset the costs of the proposed tax cuts.FULL STORY
Washington (CNNMoney) – Republican House Budget Chairman Paul Ryan wants to cut the federal government workforce by 10% - some 210,000 jobs - through a two-year hiring freeze.
It's part of his budget proposal released Tuesday. The move would save $49 billion in his broader plan to get rid of federal deficits by 2023. Ryan takes further aim at federal workers by proposing they pay more toward their pensions, saving another $132 billion in 10 years.FULL STORY
Washington (CNN) – The push in Washington over reducing the federal deficit and producing a balanced budget shouldn't be at the expense of vulnerable Americans, President Barack Obama said in an interview on Tuesday.
His comments came the same day Rep. Paul Ryan, the Republican chairman of the House Budget Committee, unveiled a plan that aims to balance the budget in 10 years.
Washington (CNN) – In the midst of a congressional charm offensive, senior Obama administration officials are slamming a new budget proposal from top House Republicans as so full of gimmicks that it will explode the deficit.
Speaking on condition of anonymity, White House officials essentially accused House Budget Committee Chairman Paul Ryan of misreading last November's election results in releasing a spending plan on Tuesday that seeks to unravel much of the Obama domestic agenda.