4 myths about the spending cuts
March 1st, 2013
11:37 AM ET
1 year 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.

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

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

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

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Filed under: Budget • Congress • Debt • Deficit
New Bowles-Simpson deficit plan would cut $2.4 trillion
February 19th, 2013
07:31 AM ET
1 year ago

New Bowles-Simpson deficit plan would cut $2.4 trillion

New York (CNNMoney) – Erskine Bowles and Alan Simpson proposed a new framework Tuesday to cut the country's debt by $2.4 trillion over the next decade.

Bowles and Simpson were the co-chairmen of President Obama's bipartisan fiscal commission in 2010, and their recommendations came to serve as a yardstick for other debt-reduction proposals.

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Filed under: Alan Simpson • CNNMoney.com • Debt • Deficit • Erskine Bowles
Spending cuts to hurt homeland security
February 13th, 2013
06:59 PM ET
1 year ago

Spending cuts to hurt homeland security

New York (CNNMoney) – The $85 billion in spending reductions looming over the federal government will cut into the nation's homeland security department and affect how it carries out vital missions, a top Obama administration official warned Wednesday.

"Sequestration would roll back border security, increase wait times at our nation's land ports of entry and airports, affect aviation and maritime safety and security, leave critical infrastructure vulnerable to attacks, hamper disaster response time ... and significantly scale back cyber security infrastructure protections," Homeland Security Secretary Janet Napolitano wrote in a letter to lawmakers.

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Filed under: Budget • Homeland Security
Calendar of fiscal crazy: Congress and the budget
February 8th, 2013
07:56 AM ET
1 year ago

Calendar of fiscal crazy: Congress and the budget

New York (CNNMoney) – Like suspense, confusion and midnight deals? Draw a big red circle around March.

It's chock full of cliffhanger deadlines and budget proposals that could drive the country's finances for the foreseeable future.

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Filed under: Budget • Congress
Tax breaks: Where big money is
February 5th, 2013
08:12 AM ET
1 year ago

Tax breaks: Where big money is

New York (CNNMoney) – If Congress and President Obama are ever going to get serious about tax reform, they will have to rethink some of the biggest and most popular tax breaks.

It won't be easy.

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Filed under: Taxes
Biggest budget busters: Spending or tax cuts?
February 4th, 2013
08:08 AM ET
1 year ago

Biggest budget busters: Spending or tax cuts?

New York (CNNMoney) - What's to blame for the big growth in federal debt? Republicans blame runaway spending. Democrats blame tax cuts.

Neither is quite right. The fact is both spending and taxes play a role.

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Filed under: Budget • Taxes
How realistic is a balanced budget in 10 years?
January 25th, 2013
11:29 AM ET
2 years ago

How realistic is a balanced budget in 10 years?

New York (CNNMoney) – House Republicans have put aside the debt ceiling as leverage in their fight for spending cuts. Now their goal is to balance the federal budget in 10 years.

Leading the charge will be Paul Ryan, chairman of the House Budget Committee, who is drafting the GOP's proposed 2014 budget.

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Filed under: Budget • Paul Ryan
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