AUTHOR ARCHIVES

Catherine Hollander

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Here's what's in the fiscal cliff deal

January 1, 2013 At around 2 a.m. on New Year's Day, the Senate passed a measure aimed at pulling the country back from the "fiscal cliff" of automatic tax hikes and spending cuts. The measure, hammered out by Vice President Joe Biden and Republican Senate Minority Leader Mitch McConnell, still needs approval by...

Analysis: Newtown shooting provides perspective amid fiscal cliff

December 18, 2012 Two days after the Newtown school massacre, Congress returned to Washington with a more subdued attitude toward partisan bickering and with a newfound focus on finding a compromise on the fiscal cliff. Neither party seemed to want to drag out a public battle over taxing the wealthy, or cutting Medicare...

Fiscal cliff, or fiscal slope? There are lots of names for the year-end event

December 13, 2012 Federal Reserve Chairman Ben Bernanke is credited with popularizing the term “fiscal cliff” earlier this year to describe the tax hikes and spending cuts the country faces at the start of 2013. Asked during a Wednesday press conference if he still believes "cliff" is an apt characterization, Bernanke said he...

Fed chairman calls fiscal cliff a threat, predicts growth if it's avoided

November 20, 2012 Federal Reserve Board Chairman Ben Bernanke issued a dire warning on Tuesday about the threat that the fiscal cliff poses to the economy. But amid the doom and gloom, he held out a silver lining: When the fiscal uncertainty lifts, the economy could be poised for solid growth. “The realization...

Debt limit likely hit by end of year, Treasury says

October 31, 2012 The Treasury Department said Wednesday that it expects the U.S. debt limit will be reached by the end of 2012, but that it can use so-called "extraordinary measures" to push the actual date of potential default to early 2013. The timetable is the same as Treasury laid out earlier this...

GDP report suggests fiscal cliff, global growth concerns

October 26, 2012 Business investment fell in the last three months, suggesting but not confirming that concerns over global growth and the impending fiscal cliff have weighed on businesses’ spending decisions. The Commerce Department reported Friday that overall Gross Domestic Product picked up in the third quarter, rising at an annual rate of...

Report: Man plotted attack on New York Fed

October 17, 2012 Federal authorities arrested a man on Wednesday they say was plotting to attack the Federal Reserve Bank of New York, NBC 4 New York reports. The man drove a van that he thought was loaded with explosives from Long Island to near the site of the Fed building in lower...

Americans donate almost $8 million to pay down debt

October 16, 2012 More than any time since the mid-1990s, citizens are pitching in to help the government pay its debt. During the latest fiscal year, which began shortly after a fight over the statutory borrowing limit cast the country's eyes on its ballooning debt, citizens gifted nearly $7.7 million to the government...

Republican senators press Treasury on debt limit plans

October 15, 2012 Two senior Republican senators, Orrin Hatch, R-Utah, and Jeff Sessions, R-Ala., are pressing Treasury for regular updates on how close the country is to hitting the statutory debt limit and what steps the administration might take to avoid default. "Our understanding is that neither the administration nor the Treasury had...

Charge that BLS employees manipulated jobs data called unlikely

October 8, 2012 The high-wire act of keeping the country’s economic data secret is guided by a hyper-precise atomic clock and a dryly named 27-year-old rule, Statistical Policy Directive Number 3. The directive dictates the process for releasing the country’s most closely watched data, including the monthly employment report, the latest of which...

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