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Katy O'Donnell

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No drama spending bill glides through House panel

September 13, 2012 In the latest sign that a stopgap spending measure could sail through Congress before the end of next week, the House Rules Committee on Wednesday devoted less than 10 minutes to the legislation that would fund the government for the next six months. A room usually fraught with tense exchanges ...

Outgoing senator on why he told Obama not to back Simpson-Bowles budget plan

September 11, 2012 Outgoing Senate Budget Chairman Kent Conrad, D-N.D., acknowledged Tuesday that he advised President Obama against embracing the recommendations of the Bowles-Simpson fiscal commission and said he did so because he feared an endorsement from the Democratic president would cause House Republicans to "reflexively" oppose the panel's blueprint for deficit reduction. ...

The Obama and Ryan budgets, by the numbers

August 14, 2012 A comparison of President Obama's approach to the federal budget and plans put forward by Mitt Romney's running mate, House Budget Committee Chairman Paul Ryan, R-Wis. President Obama TAXES: Obama would allow the lower Bush tax rate of 35 percent to expire, bringing the tax rate back up to 39.6 ...

Six-month deal reached to avoid government shutdown

July 31, 2012 This story has been updated. Congressional leaders and the White House have reached a deal to adopt a stopgap spending bill after the August recess that would fund the government through the first quarter of 2013, Senate Majority Leader Harry Reid, D-Nev., said Tuesday afternoon. The agreement allows lawmakers to ...

House to take up Defense spending bill, hold off on others

July 12, 2012 After considering the defense spending bill for fiscal 2013 next week, the House will not bring any more appropriations measures to the floor before the election, according to aides, making it highly likely each chamber will have to bundle messy funding bills during the lame duck session. Senate Majority Leader ...

Top Democratic House appropriations job will likely go to a woman

July 10, 2012 It's a good bet the House Appropriations Committee next year will have a woman in the top Democratic position for the first time. But who that woman will be--the more-senior Rep. Marcy Kaptur, D-Ohio, or the leadership-friendly Rep. Nita Lowey, D-N.Y.--is less clear. Lowey won't say outright whether she's running ...

Social Security can sustain benefits for only 20 more years, Geithner says

April 23, 2012 Social Security can sustain full benefit payments for only another 20 years, according to the latest report from the program’s trustees, the Treasury Department said Monday. "The report projects that, when considered on a combined basis, Social Security's retirement and disability programs have dedicated funds sufficient to cover benefits for ...

GOP lawmaker accuses generals of 'smoke and mirrors' in budget requests

March 29, 2012 House Budget Chairman Paul Ryan, R-Wis., claimed Thursday that senior U.S. military officials and commanders were being dishonest in their budget requests to Congress. “We don’t believe the generals are giving us their true budget,” Ryan said at the National Journal Live Budget Policy summit, adding, “I think there’s a ...

Payroll deal deepens fiscal hole

March 13, 2012 At $1.2 trillion, the federal deficit will be $93 billion larger than previously expected in fiscal year 2012, due almost entirely to the cost of a payroll tax cut , the Congressional Budget Office projected Tuesday in its March baseline update. The 10-year deficit accumulated by 2022 will fall by ...

Obama chief of staff: 'Congress needs to get its work done'

February 13, 2012 In a line the Obama administration has made clear will be one of its campaign slogans, new White House Chief of Staff Jack Lew on Sunday signaled how the White House will play both the extension of the payroll tax cut and the president’s fiscal 2013 budget request, to be ...