New York (CNNMoney) – Forget a grand bargain. Most people will be relieved if Congress can just agree on funding for fiscal year 2014, which started three weeks ago.
Lawmakers have until mid-January, when the current round of temporary government funding expires, to figure it out. If they don't, the country could be at risk of yet another shutdown.FULL STORY
New York (CNNMoney) – There's still a lot of confusion about what October 17 represents when it comes to the debt ceiling and the risk of a U.S. default.
First, make no mistake. Congress should have raised the debt ceiling weeks if not months ago.FULL STORY
New York (CNNMoney) – The potential U.S. military strike in Syria is raising moral and political quandaries for Washington. Does it raise a fiscal problem as well?
After all, the Pentagon's budget has been curtailed recently in ways that top officials have warned would create a "hollow" force over the next decade.FULL STORY
New York (CNNMoney) - Two months after the Supreme Court struck down the Defense of Marriage Act, the Treasury Department on Thursday ruled that legally married same-sex couples will be treated as married for federal tax purposes.
The decision has a host of implications, even for couples who now live in states that don't recognize same-sex marriage.FULL STORY
New York (CNNMoney) - Treasury Secretary Jack Lew just put a rush on looming fiscal fights this fall.
Lew said Monday that Congress must raise the country's debt ceiling before mid-October, which is when Treasury estimates it will have exhausted the extraordinary measures it has taken to keep a U.S. default at bay.FULL STORY
New York (CNNMoney) - The United States will reach the limit of its borrowing authority in mid-October, Treasury Secretary Jack Lew said Monday.
At that point, Lew warned, unless Congress has raised the debt ceiling, the Treasury Department will only be able to pay the country's incoming bills with the cash it has on hand.FULL STORY
New York (CNNMoney) – When Congress returns from its five-week summer break in September, lawmakers will face some make-or-break fiscal issues that they have once again left to the last minute.
The stars seem aligned for an ugly fight over the federal budget, automatic spending cuts and the debt ceiling.FULL STORY
New York (CNNMoney) - It's not negotiable: Congress will have to soon raise the debt ceiling. The only question is when.
On Wednesday, the Treasury Department said again that it can continue to pay the country's bills in full without breaching the legal limit on borrowing until sometime after Labor Day.FULL STORY
New York (CNNMoney) - A bipartisan Senate bill that would create a path to legal status for many of the 11.5 million undocumented immigrants in the United States could reduce deficits by $175 billion over the first 10 years and by at least $700 billion in the second decade.
That's according to an analysis released Tuesday by the nonpartisan Congressional Budget Office.FULL STORY