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Cutting top tax rates doesn’t boost economy, study says

December 13, 2012 It’s back. A report showing that cutting top tax rates does not stimulate the economy -- a cornerstone of the tax philosophy of many Republicans -- was reissued this week after being pulled in early November amid complaints from Senate Republicans. An analysis of 65 years of data showed no ...

GOP playing with fire on debt limit

December 11, 2012 In the negotiations to avoid a year-end fiscal crisis, Republicans may be playing with fire. The GOP's biggest piece of leverage -- whether to increase the limit on how much money the nation can borrow -- is also one fraught with political and economic risk, experts and analysts say. If ...

White House tips its hand on payroll tax cut

November 27, 2012 The president's top economic adviser on Monday said Obama still believes the expiring payroll tax cut should be a part of broader fiscal talks, suggesting that an issue that some believed was settled months ago could see new life. "The payroll tax cut has helped middle-class families, has helped support ...

Obama says he's confident a grand bargain can be reached

October 24, 2012 President Obama is doubling down on optimism that he and Congress will be able to quickly handle the nation's vexing fiscal problems. Obama told the Des Moines Register that he thinks a grand bargain with Republicans on long-term deficit reduction is achievable and predicted it could happen by the middle ...

Keep payroll tax cut extension on the table, Maryland Democrat says

October 22, 2012 An extension of the expiring payroll-tax cut should be on the table during negotiations after the election, the top-ranking Democrat on the House Budget Committee said on Sunday. The comments suggest a shift from what some believed to be a settled issue as recently as t hree weeks ago. "I ...

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 ...

OMB sequestration report incomplete, senators say

September 21, 2012 Two Republican senators on Thursday criticized the Office of Management and Budget for failing to provide what they say is legally mandated analysis in its recent report on the looming spending cuts slated for 2013. In a letter to acting OMB Director Jeffrey Zients, Sens. John Thune, R-S.D., and Jeff ...

Club for Growth president: Bring on sequestration

September 20, 2012 Nearly $110 billion in looming spending cuts that almost no one backs? Bring it on, says Club for Growth President Chris Chocola. "We don't care where they get the cuts," Chocola said at a Thursday breakfast with reporters. "We just think there's a number they said they would save and ...

Bill to revamp Federal Reserve expected on Thursday

March 6, 2012 Rep. Kevin Brady, R-Texas, plans to introduce a bill on Thursday that would dramatically reshape the Federal Reserve, offering a potential preview of future GOP efforts to reform the body. The seven-part bill would, among other things, eliminate the employment-maximizing half of the Federal Reserve’s dual mandate, leaving it solely ...