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Tim Fernholz

Tim Fernholz covers state, business and society for Quartz.
Results 281-290 of 299

Obama hails renewed Gang of Six effort

July 19, 2011 President Obama hailed as "good news" word on Tuesday that the bipartisan Gang of Six senators presented a framework for a deficit reduction plan that includes tax revenues and is "in the same playing field" as what he hopes to accomplish in talks with Congress. Stepping into the White House...

U.S. long-term debt outlook worsens

June 22, 2011 Increasing federal debt will be a growing burden on government action, crowding out lawmakers' ability to adopt tax and spending priorities in good times and reducing flexibility during recessions, all while making a fiscal crisis more likely and hindering long-term growth, the nonpartisan Congressional Budget Office said Wednesday. In the...

For incoming Defense chief, no easy answers on budget cuts

June 13, 2011 The continued costs of U.S. operations in Afghanistan are influencing the administration's deliberations about the pace of withdrawal from that conflict, scheduled to begin next month. However, whether President Obama and his new, budget-focused secretary of Defense choose to recall 5,000 troops or 30,000 will have little effect on the...

Pawlenty lays out Reaganesque economic agenda

June 7, 2011 Harnessing Reaganomics to the Internet revolution, former Minnesota Gov. Tim Pawlenty laid out his economic vision for the nation -- and his potential presidency -- on Tuesday at the University of Chicago, a bastion of conservative economic academia. Pawlenty outlined an approach to fiscal issues that closely tracks the fiscal...

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...