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Tim Fernholz

Tim Fernholz covers state, business and society for Quartz.
Results 231-240 of 245

Geithner, defending Obama plan, says GOP owns potential U.S. default

May 18, 2011 NEW YORK - Treasury Secretary Tim Geithner updated the Obama administration's deficit-reduction goals on Tuesday, laying out a strategy of multi-year spending cuts, entitlement reform, and tax increases designed to allow Congress to increase the federal debt limit by early August. However, should Republicans hold out on increasing the nation's...

As government hits debt limit, tensions rise

May 16, 2011 This story has been updated. Treasury Secretary Timothy Geithner announced on Monday morning that the federal government had met its statutory borrowing limit. Now a $14,294,000,000,000 cap on debt is firmly in place, starting the clock toward potential default and turning up the heat on simmering fiscal negotiations in Washington....

The cost of battling bin Laden: $3 trillion

May 6, 2011 The most expensive public enemy in American history died Sunday from two bullets. As we mark Osama bin Laden's death, what's striking is how much he cost our nation-and how little we've gained from our fight against him. By conservative estimates, bin Laden cost the United States at least $3...

As debt ceiling nears, Washington gropes for agreement on budget tool

April 21, 2011 With Congress facing an impasse over lifting the government's borrowing ceiling as Republicans demand concessions on budget process, members of both parties are trying to identify the right tool to end the debate. Now, a veteran group of policymakers is offering a package of budget rules -- a kind of...

Study shows budget deal will cut spending by only $352 million

April 14, 2011 A Congressional Budget Office analysis of the fiscal 2011 spending deal that Congress will vote on Thursday concludes that it would cut spending this year by less than one-one hundredth of what both Republicans or Democrats have claimed. A comparison prepared by the CBO shows that the omnibus spending bill,...

Budget cutting a difficult task

April 12, 2011 The meat of the spending deal struck between the two parties late Friday night was revealed in a legislative omnibus released early Tuesday morning. The specifics show that finding nearly $40 billion in cuts during the 2011 fiscal year required clever accounting and, for the White House, a willingness to...

House budget chair offers plan with $6 trillion in cuts

April 5, 2011 House Budget Chairman Rep. Paul Ryan's 2012 budget is estimated to cost $6.2 trillion less over 10 years than President Obama's plan, with an initial deficit of $950 billion next year that decreases, along with government debt, over time. But some of the savings in Ryan's budget will be difficult...

Fiscal debate shifts from short-term cuts to long-term fixes

April 4, 2011 The budget process shifts into a new gear this week with the introduction of House Republicans' 2012 budget plan, which will offer long-awaited specifics on GOP promises for far-reaching entitlement programs. The proposals will force Senate Democrats and the White House to engage in a long-term fiscal debate and provide...

Lawmakers seeking private funds for major infrastructure

March 17, 2011 As Washington struggles to balance economic development with budgetary austerity, some lawmakers are coalescing behind plans to attract private funds for investment in major infrastructure projects with a minimum of public money involved. Two bills focus on infrastructure-a priority of the president and, in rare concert, the business and labor...

Federal performance chief: It's about managing missions, metrics

February 18, 2011 Jeffrey Zients, who made a fortune advising companies on best business practices (working with National Journal and Government Executive owner David Bradley), became the federal government's first chief performance officer in 2009, helping to bring private-sector innovation to public-sector practice. The administration's agenda is now focused on repairing its relationship...