AUTHOR ARCHIVES
Fed, Wall Street prepare for default
July 21, 2011 With time running out to make a deal on raising the debt limit, and with Congress at loggerheads over how to do it, both the Federal Reserve and Wall Street have started preparing for the worst. Charles Plosser, the president of the Philadelphia Federal Reserve Bank, tells Reuters that, for ...
Treasury head: Only option is to raise debt limit
July 18, 2011 Plan A: Raise the debt ceiling. Plan B: (See plan A). Even with Congress gridlocked over how to do it, Treasury Secretary Timothy Geithner says there is no alternative to raising the debt ceiling, and that he is "absolutely" convinced that it will get done. "Our plan has been -- ...
Geithner sticking around for time being
July 1, 2011 Amid rumors of his imminent departure, Treasury Secretary Timothy Geithner said on Thursday that he will continue working his current job for the "foreseeable future." Speaking to former President Bill Clinton onstage at a meeting of the Clinton Global Initiative, Geithner nipped rumors in the bud that he would be ...
Senate cancels July 4 recess after Obama addresses debt-ceiling
June 30, 2011 Just one day after President Obama chided Congress for spending so much time away from Washington, Senate Majority Leader Harry Reid said he was canceling the July 4 recess. Reid said that the Senate would reconvene on July 5, with the first votes likely to take place that afternoon. "The ...
Economic Development Agency is a waste of money, senator says
June 15, 2011 Sen. Jim DeMint, R-S.C., a tea party stalwart dedicated to reducing the size of the government, has set his sights on the Economic Development Administration. The EDA was founded in 1965 to help promote economic competitiveness and create jobs, but DeMint says it wastes money with the promotion of "pet ...
Senators oppose White House disclosure plan for contractors
May 12, 2011 When it comes to transparency, not everything is clear. President Obama's proposal that federal contractors disclose their political contributions has rankled some members of Congress, and not just along party lines. Four members of the Senate Committee on Homeland Security and Governmental Affairs-two Republicans, a Democrat, and an independent-penned a ...
Lawmakers criticize military funeral protesters
March 4, 2011 Members of the Westboro Baptist Church, who won a Supreme Court ruling this week supporting their right to protest military funerals, are misusing their right to free speech, say Senate Armed Services Committee members Sen. Joe Manchin, D-W.V., and Sen. Mark Begich, Alaska. Julie Hasquet, a spokeswoman for Begich, told ...
Senate GOP not satisfied with Obama's budget proposal
February 14, 2011 With President Obama's proposed budget out Monday morning, Senate Republicans are already signaling their disappointment with leaked portions of the plan. Obama's 2012 budget calls for $1.1 trillion in deficit reduction over the next 10 years, with roughly two-thirds drawn from spending cuts and another third from revenue increases, but ...
Likely House majority leader calls for hiring freeze
November 10, 2010 The Republicans surged to power this past election with rhetoric about changing the way Washington is run and reducing the federal budget. House Minority Whip Eric Cantor, R-Va., the presumed House majority leader, says he has a plan to tackle both of these issues with a single move: slash the ...
Congress pokes Facebook
October 19, 2010
FROM NEXTGOV
In response to reports that third-party applications on Facebook have been collecting and distributing user information, Reps. Edward Markey, D-Mass., and Joe Barton, R-Texas, want to know how many people were affected, when Facebook found out, and what the company plans to do about it. In a letter to CEO ...
No Furloughs at Customs and Border Protection
IRS Employees to Receive $70 Million in Bonuses
Uncharted Financial Waters at Defense
Postal Service Eyes Cuba
Should Leaders Ever Lie?
Unions: Efficiency Board Is 'Offensive,' 'Unwise'
