House and Senate plans for appropriations bills for 2014 are currently about $91 billion apart, setting the stage for a possible government shutdown in October.Appropriations subcommittees in the House and Senate have released “302(b) suballocations” that break down levels for…
A new Congressional Budget Office (CBO) report warns of grave difficulties if Washington can’t agree on a new federal debt limit by October or November.As in the past, the Treasury is buying more time on the debt limit with what…
Some in Washington are ready to declare victory over the deficit problem, and on Monday Standard & Poor’s said it would revise its credit rating outlook for the government from negative to stable. But the deficit problem is actually still…
Judging by recent media reports, there is a growing belief in Washington that the best way to deal with the deficit is to “declare victory.” It won’t work. The deficit problem is far from being solved and its lengthy shadow…