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Published: 04/15/11

House Set to Vote on $6 Trillion Spending Cut Plan

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House Set to Vote on $6 Trillion Spending Cut Plan

WASHINGTON -- A bold but politically risky plan to cut trillions of dollars from the federal budget steamed toward a party-line House vote Friday, as insurgent Republicans rallied behind the idea of fundamentally reshaping the government's role in health care for the elderly and the poor. The GOP plan proposes a federal budget totaling $3/5 trillion next year, while promising more than $6 trillion in accumulated spending cuts over the next decade compared with the budget that President Barack Obama offered in February. It relies on stiff cuts to domestic agency accounts, food stamps and the M...

Published: 04/14/11

Congress Sends Budget Cut Bill to Obama

By  not in system - AOL News
Congress Sends Budget Cut Bill to Obama

Congress sent President Barack Obama hard-fought legislation cutting a record $38 billion from domestic spending on Thursday, bestowing bipartisan support on the first major compromise between the White House and newly empowered Republicans in Congress. "Welcome to divided government," said House Speaker John Boehner of Ohio, Republican point man in tough negotiations with the president and Senate Majority Leader Harry Reid, D-Nev., that produced a bill no one claimed to like in its entirety. Leader of a rambunctious new majority, Boehner said the cuts in domestic programs were unprecedented...

Published: 04/12/11

Head of House GOP Committee Opposes Budget Deal

By  not in system - AOL News
Head of House GOP Committee Opposes Budget Deal

WASHINGTON -- The head of an influential House Republican panel says he'll oppose the budget deal negotiated by the White House and Congress to avert a government shutdown. Rep. Jim Jordan of Ohio said in a statement Tuesday that while some of his GOP colleagues will support the compromise announced late Friday night, he believes "voters are asking us to set our sights higher." Jordan heads the Republican Study Committee. He said the committee had pushed for a full $100 billion in cuts from President Barack Obama's budget. The deal negotiated by Obama, Speaker John Boehner and Senate Democr...

Published: 04/11/11

Obama's Debt-Cutting Plan: Everything on the Table

By  not in system - AOL News
Obama's Debt-Cutting Plan: Everything on the Table

WASHINGTON -- President Barack Obama, plunging into the rancorous struggle over America's mountainous debt, will draw sharp differences with Republicans Wednesday over how to conquer trillions of dollars in spending while somehow working out a compromise to raise some taxes and trim a cherished program like Medicare. Obama's speech will set a new long-term deficit-reduction goal and establish a dramatically different vision from a major Republican proposal that aims to cut more than $5 trillion over the next decade, officials said Monday. Details of Obama's plan are being closely held so far...

Published: 04/8/11

Lawmakers Reach 'Historic' Deal to Avoid Government Shutdown

By  not in system - AOL News
Lawmakers Reach 'Historic' Deal to Avoid Government Shutdown

WASHINGTON - Perilously close to a government shutdown, President Barack Obama and congressional leaders reached a historic agreement late Friday night to cut about $38 billion in federal spending and avert the first federal closure in 15 years. Obama hailed the deal as "the biggest annual spending cut in history." House Speaker John Boehner said that over the next decade it would cut government spending by $500 billion, and won an ovation from his rank and file -tea party adherents among them. Saul Loeb, AFP / Getty Images President Barack Obama hailed the budget deal as "the big...

Published: 04/6/11

GOP Budget Proposal Would Increase Health Cost for Future Retirees

By  not in system - AOL News
GOP Budget Proposal Would Increase Health Cost for Future Retirees

WASHINGTON -- Most future retirees would pay considerably more for health care under the new budget proposed by House Republicans, according to an analysis by nonpartisan experts for Congress that signals problems ahead for the plan. The fiscal blueprint would put people now 54 and younger in a different kind of health care program when they retire, unlike the Medicare that their parents and grandparents have known. Instead of coverage for a set of benefits prescribed from Washington, they'd get a federal payment to buy private insurance from a choice of government-regulated plans. "A typica...

Published: 04/5/11

Obama: No Need for More Budget Extensions

By  not in system - AOL News
Obama: No Need for More Budget Extensions

WASHINGTON -- Raising the pressure for a budget deal, President Barack Obama on Tuesday rejected a Republican stopgap proposal to extend government operations for a week while negotiators try to hammer out an agreement on spending cuts for the rest of the year. "We are now at the point where there is no excuse to extend this further," Obama said following a White House meeting with congressional leaders. The White House and Congress face a Friday deadline to complete an agreement that would set spending limits through the end of September and avert a shutdown this weekend. Obama sai...

Published: 04/5/11

White House Seeking Deal in Budget Stalemate

By  not in system - AOL News
White House Seeking Deal in Budget Stalemate

WASHINGTON -- The White House said Tuesday it was still confident Republicans and Democrats could reach an agreement to fund the government through the end of the year and avoid a shutdown, while admitting frustration at the pace of negotiations. "We believe a deal is possible," White House spokesman Jay Carney told reporters. Carney spoke as President Barack Obama huddled with congressional leaders at the White House for talks aimed at reaching an agreement ahead of a Friday deadline to keep the government operating. While the White House has been heavily involved in the budget discussions...

Published: 03/31/11

Boehner Signals Compromise in Budget Talks

By  not in system - AOL News
Boehner Signals Compromise in Budget Talks

WASHINGTON -- Despite fresh pressure from tea party conservatives, House Speaker John Boehner said Thursday that Republicans "can't impose our will" on the White House and Senate Democrats on legislation to cut tens of billions of dollars in federal spending. At a news conference, Boehner, R-Ohio, denied Democratic suggestions that he has already agreed to jettison nearly half of the $61 billion in cuts passed by the House a month ago. But as was the case with Majority Leader Eric Cantor, R-Va., earlier in the week, he did not say the demand was non-negotiable. "Our goal is to cut spending, ...

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