Treasury Secretary Jack Lew has warned lawmakers that the government could hit its debt ceiling in mid-October, earlier than many analysts had predicted.Congress has no choice but to eventually raise the debt limit so the government can pay its bills…
This year will mark the end of a four-year string of trillion-dollar-plus federal deficits that have troubled the American public and caused turmoil on Capitol Hill. (more…)
Congress has begun a recess that runs through early September despite completing no appropriations bills and making no progress towards a budget resolution conference.Lawmakers have failed to reconcile the overall spending levels set by the Democratic-controlled Senate and Republican-controlled House.…
A new Congressional Budget Office (CBO) report makes clear that the failure of elected officials to agree on a responsible alternative to sequestration’s indiscriminate spending cuts will cause immediate damage to the economy. The report also shows, however, that ending sequestration…
