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Debt ceiling: Treasury starts juggling act
May 17th, 2013
03:04 PM ET
5 days ago

Debt ceiling: Treasury starts juggling act

New York (CNNMoney) - The debt ceiling clock is about to start running again. The U.S. Treasury on Friday began using "extraordinary measures" to keep the country from defaulting on its obligations.

As part of a budget compromise in February, lawmakers suspended the country's legal borrowing limit at $16.394 trillion, and let Treasury keep borrowing to pay all the country's bills. But on Sunday the debt ceiling will automatically reset to a higher level reflecting the amount borrowed during the suspension period.

FULL STORY

Filed under: Debt
Current deficit plunges 32%
May 7th, 2013
06:08 PM ET
15 days ago

Current deficit plunges 32%

New York (CNNMoney) - The annual deficit has fallen 32% over the first seven months of this fiscal year compared with same period last year, according to Congressional Budget Office figures released Tuesday.

A major reason: A big jump in tax revenue.

FULL STORY

Filed under: Deficit
FAA furlough reprieve: 'No fair!'
April 26th, 2013
05:12 PM ET
26 days ago

FAA furlough reprieve: 'No fair!'

New York (CNNMoney) - Millions of travelers frustrated by airport delays may be relieved that Congress did an about-face this week, passing legislation to end the furloughs of FAA air traffic controllers.

But advocates for everyone else directly affected by the so-called sequester are miffed with the selective undoing of what were supposed to be across-the-board cuts.

FULL STORY

Filed under: Budget • FAA
What's in Obama's budget
April 10th, 2013
07:41 AM ET
43 days ago

What's in Obama's budget

New York (CNNMoney) – President Obama on Wednesday will propose a $3.77 trillion budget for 2014 that would cut deficits by $1.8 trillion over the next decade, according to senior administration officials.

Obama's budget blueprint - which has already drawn criticism from the left and the right - will offer changes to Medicare and Social Security. It will also include tax increases that would primarily hit high-income households and corporations.

FULL STORY

Filed under: Budget • President Obama
Ryan's balanced budget quest
March 7th, 2013
10:37 AM ET
76 days ago

Ryan's balanced budget quest

New York (CNNMoney) - House Budget Chairman Paul Ryan will release the latest version of his budget proposal on Tuesday.

The 2014 plan, he promises, will balance the federal budget in 10 years.

Is that possible?

FULL STORY

Filed under: Budget • Paul Ryan
Why spending cuts may be here to stay
March 6th, 2013
07:29 AM ET
78 days ago

Why spending cuts may be here to stay

New York (CNNMoney) - The threat of automatic budget cuts was supposed to light a fire under lawmakers and force them to do their jobs.

Now that the cuts are in effect, they may end up being a crutch to let Congress avoid making tough choices about where money should be spent and where it should be cut.

FULL STORY

Filed under: Budget • Debt
4 myths about the spending cuts
March 1st, 2013
11:37 AM ET
82 days ago

4 myths about the spending cuts

New York (CNNMoney) – The political bickering over the automatic spending cuts has done little but cloud the public's understanding of what's going on and why.

So we'll try to set the record straight on at least a few oft-repeated misconceptions.

FULL STORY

Filed under: CNNMoney.com • Debt • Deficit
Spending cuts: It's about to get weird
February 27th, 2013
07:29 AM ET
85 days ago

Spending cuts: It's about to get weird

New York (CNNMoney) – When it comes to budgeting for the federal government, things are about to get strange.

Starting Friday, federal agencies will be forced to make cuts to their programs without knowing what their actual budgets for this year will be. Why? Because Congress never passed a budget, just a stopgap funding measure that expires soon.

FULL STORY

Filed under: Budget • CNNMoney.com • Debt • Deficit
Spending cuts showdown may drag on
February 25th, 2013
07:28 AM ET
87 days ago

Spending cuts showdown may drag on

New York (CNNMoney) - Chances are slim that Congress will avert the automatic spending cuts before they take effect on Friday. It's more likely lawmakers will reach a deal to replace the cuts after they begin.
But there's no telling when.

Funding for numerous federal agencies and programs will be slashed, half from defense and half from nondefense spending.

FULL STORY

Filed under: CNNMoney.com • Congress • Debt • Deficit
Spending cuts: What you need to know
February 19th, 2013
07:34 AM ET
93 days ago

Spending cuts: What you need to know

New York (CNNMoney) – The budgets of most federal government programs and agencies will shrink on March 1.

Congress could prevent that from happening, but it's not likely to do so before the deadline.

FULL STORY

Filed under: Budget • Congress • Debt • Deficit
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