The Congressional Budget Office released a statement that said the U.S. economy could contract by 1.3% in the first half of 2013 if the Bush-era tax cuts expire and the automatic federal spending cuts become a reality. That certainly does not make ......More
More than 70% of business economists surveyed oppose the full implementation of the budget sequester that went into effect on March 1. However, economists were even more in favor (94%) of Congress enacting policies to bring about further deficit reduction over the coming 10 years....More
President Barack Obama is bound by law to initiate the automatic, indiscriminate cuts, which could wound the already fragile economy, cost a million jobs and harm military readiness, by 11.59 pm....More
Budget cuts will force the Federal Aviation Administration to reduce airport staffing around the country, shutting towers at smaller airports and causing a general slowdown of civil aviation operations....More
With President Barack Obama heading back to Washington, U.S. lawmakers were under increased pressure Wednesday to hammer out an 11th-hour deal that would prevent taxes from rising for all Americans....More
Barack Obama's re-election as U.S. president set the stage Wednesday for a fresh political battle over the year-end "fiscal cliff" budget crunch which threatens to force the economy back to recession....More
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