Lew: What the would-be Treasury chief is worth
January 25th, 2013
08:18 AM ET
2 years ago

Lew: What the would-be Treasury chief is worth

Washington (CNNMoney) - Jack Lew, the nominee to be the next Treasury Secretary, would be among the least wealthy to hold the job in recent history, even though he had a short tenure on Wall Street.

That's partly due to the fact that, as an investor, he's quite conservative.

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Filed under: Jack Lew • Treasury
Obama budget office: Prepare for job cuts
January 15th, 2013
01:03 PM ET
2 years ago

Obama budget office: Prepare for job cuts

Washington (CNNMoney) - The White House budget office has asked federal agencies to "intensify" preparations for massive cuts, should Congress not be able to come to a deal to avert them before March 1.

The Office of Management and Budget released a memo on Monday asking the agencies to identify ways to shrink their budgets. Some of the options include shrinking their work forces through hiring freezes and furloughs and finding grants and contracts that can be cut, according to a memo by OMB Deputy Director for Management Jeffrey Zients.

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Timing on Geithner successor is key
January 3rd, 2013
03:02 PM ET
2 years ago

Timing on Geithner successor is key

Washington (CNNMoney) - It's long been expected that Treasury Secretary Tim Geithner would stay on long enough in the job to play a key role in the fiscal cliff negotiations. Now that the deal is done, observers say the White House has a small window to name a successor.

Geithner is expected to stay on until the end of this month.

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Filed under: Tim Geithner • Treasury
Federal workers brace for furloughs
December 31st, 2012
02:49 PM ET
2 years ago

Federal workers brace for furloughs

New York (CNNMoney) - Federal workers are bracing for furloughs that could start to take place in the next few months if Congress doesn't replace massive budget cuts scheduled to begin Wednesday.

Even as a fiscal cliff deal was beginning to emerge Monday afternoon, lawmakers and the president still lacked agreement to stop measures carving some $110 billion in spending power from federal budgets each year over the next decade through automatic cuts.

FULL STORY

Filed under: Fiscal Cliff
Gun lobby has laid groundwork against any new laws
December 18th, 2012
07:27 AM ET
2 years ago

Gun lobby has laid groundwork against any new laws

Washington (CNNMoney) – A cacophony of calls to change gun laws has emerged after last week's tragedy in Connecticut, and the National Rifle Association has kept quiet.

But no one expects silence from the NRA once President Obama or members of Congress make any move to change the laws.

FULL STORY

Filed under: Gun rights • NRA
Obama plan has $200 billion in economic boosters
December 4th, 2012
07:35 AM ET
2 years ago

Obama plan has $200 billion in economic boosters

Washington (CNNMoney) – The White House initial proposal to avert the fiscal cliff includes $200 billion in economic boosters - a stimulus plan Republican critics are railing against when they say the country needs to start reducing debt.

But even deficit hawks say spending more now is fine and even warranted to support a fledgling economic recovery. The key is long-term cuts that take effect down the road.

FULL STORY

Filed under: CNNMoney.com • Fiscal Cliff • President Obama
Medicare patients at risk without doctors' fiscal cliff fix
November 30th, 2012
07:05 AM ET
4 months ago

Medicare patients at risk without doctors' fiscal cliff fix

Washington (CNNMoney) - As lawmakers head into talks to avoid the fiscal cliff, doctors are watching closely.

Thanks to bad timing, the Medicare fees that doctors are paid for treating seniors has gotten tangled up in the same high-stakes deal-making to avert the fiscal cliff - across the board tax hikes and spending cuts that kick in January.

FULL STORY

Filed under: Fiscal Cliff • Medicare
Fiscal cliff helps mend Obama-CEO relations
November 21st, 2012
10:50 AM ET
2 years ago

Fiscal cliff helps mend Obama-CEO relations

Washington (CNNMoney) – Fiscal cliff negotiations are proving to be the perfect excuse for President Obama and the business community to smooth over a rocky four years.

The White House has struggled to make and keep friends in the business community, thanks to contentious policy fights over financial and health care reforms. Obama famously dubbed Wall Street as "fat cat bankers" and bashed health insurers for raising premiums and denying coverage.

FULL STORY

Filed under: CNNMoney.com • Fiscal Cliff • President Obama • White House
Business group blows $29 million on election losers
November 9th, 2012
08:45 AM ET
2 years ago

Business group blows $29 million on election losers

Washington (CNNMoney) – Most of the $36 million that the U.S. Chamber of Commerce spent on its pro-business agenda this election went down the drain.

According to federal records compiled by the Center for Responsive Politics, a watchdog group, $29 million of the money was spent in races that the Chamber's favored candidate lost.

FULL STORY

Filed under: 2012 • Chamber of Commerce • CNNMoney.com
Wall Street to Washington: Avoid the fiscal cliff!
October 18th, 2012
10:00 AM ET
2 years ago

Wall Street to Washington: Avoid the fiscal cliff!

New York (CNNMoney) – Several big Wall Street bank CEOs on Thursday urged Congress and President Obama to avoid the "fiscal cliff."

In an urgent letter dated Oct. 18, the Financial Services Forum pressed leaders to "reach a bipartisan deal to avoid" massive tax hikes and across-the-board program cuts that could lead to recession. If Congress doesn't act by Jan. 1, the United States will go over the fiscal cliff, triggering about $1.2 trillion worth of spending cuts over a decade.

FULL STORY

Filed under: Congress • Wall Street
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