Related Content: debt

Boehner: No Budget Brinksmanship From Me

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House Speaker John Boehner (R., Ohio) professed bafflement Thursday about the reaction to his comment Wednesday that any increase in the debt limit at the end of the year must be accompanied by spending cuts and other savings of greater value.

Obama and House Republicans Offer Taste of Renewed Fight Over the Debt Ceiling

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President Obama and Congressional Republicans staged a preview of a looming end-of-year battle on Wednesday, as the president warned Republicans that he would not allow Congress to hold the economy “hostage” to another fight over whether to raise the country’s debt ceiling without accompanying cuts in spending.

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(CNN, File Photo)

Geithner Sounds Warning Over Debt Ceiling

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Speaking at the Peter G. Peterson Fiscal Summit in Washington, D.C., Treasury Secretary Timothy Geithner said Congress needed to act smartly this time around on raising the debt ceiling.

Boehner: No Debt Ceiling Increase Without Cuts

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House Speaker John Boehner, R-Ohio, will not allow an increase in the debt ceiling to move through the House unless the amount of the increase includes an equal or greater amount of spending cuts. His pledge once again sets Congress on a collision course with Senate Democrats and the White House over what was once a routine vote to raise the federal debt ceiling, which allows the U.S. government to continue to pay its bills without the risk of default.

Health-Care Law Will Add $340 Billion to Deficit, New Study Finds

On The Radar

President Obama’s landmark health-care initiative, long touted as a means to control costs, will actually add more than $340 billion to the nation’s budget woes over the next decade, according to a new study by a Republican member of the board that oversees Medicare financing.
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Democrats Attack Ryan Budget Plan, Again

On The Radar

A year ago, Democrats made political mincemeat of Rep. Paul Ryan’s budget plan, attacking it for its cuts in Medicare and other programs. They’re hoping Mr. Ryan’s new plan will provide similar political damage. In a statement Tuesday, White House Communications Director Dan Pfeiffer said the plan “once again fails the test of balance, fairness and shared responsibility.”
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Obama’s Deficit Dilemma

On The Radar

President Obama was backstage at an auditorium at George Washington University last April preparing to give a major speech, when William M. Daley, then his chief of staff, spied an unexpected guest in the audience: Representative Paul D. Ryan, the Republican chairman of the House Budget Committee, whose budget plan Mr. Obama was about to shred.

Study Tests Claims of Republican Candidates’ Debt Plans

On The Radar

A centrist budget-watchdog group is punching trillion-dollar holes in the claims of Republican presidential candidates that they would rein in the mounting federal debt if elected, according to an analysis to be released on Thursday.
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Obama's Corporate Tax Plan Presages Election Debate

On The Radar

President Obama's corporate tax reform "framework" unveiled Wednesday is unlikely to become law in an election year, but a partisan and economically rooted debate about individual and business taxes will figure prominently before November. Two competing visions for fiscal rejuvenation after 2013 are guaranteed to clash when Obama and a GOP nominee finally face one another later this year.
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Obama Won't Come Close on Pledge to Halve Deficit, CBO Says

On The Radar

President Obama's pledge to cut the deficit in half by the end of his first term will fall short, according to the latest economic outlook released Tuesday by the non-partisan Congressional Budget Office. The president said in February 2009 that the $1.3 trillion deficit he inherited would be cut in half under his budget blueprint, but according to the CBO, the deficit in 2012 will continue to hover around $1 trillion, and fall to just under $1 trillion next year if current tax laws are extended, as expected.