Automatic across-the-board spending cuts under sequestration are near certain to happen, a Goldman Sachs economist said. According to Business Insider, Alec Phillips wrote in a note that the cuts are more likely
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Under current law as it stands, the Congressional Budget Office is estimating the tax deal passed by Congress to avert the fiscal cliff will add $3.9 trillion to the deficit over the
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The House voted late Monday to freeze the salaries of lawmakers and nearly 2 million federal government employees for the rest of fiscal year 2013, the Washington Post reports. Ed O’Keefe writes
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The automatic across-the-board budget cuts known as sequestration are postponed for two months under a tax package passed by Congress late Tuesday, The Hill newspaper reports. By a 257-167 vote, the House
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Officials from President Obama’s administration have given the Pentagon the green light to begin planning for $500 million in budget cuts set to take place as a result of sequestration. According to
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Defense Department furloughs or other personnel actions related to sequestration would not immediately occur on Jan. 2, Defense Secretary Leon Panetta wrote in a memo to Pentagon personnel sent Thursday. Any scheduled
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Budget uncertainty surrounding the fiscal cliff keeps the Defense Department from being able to plan the country’s future defense strategy, Defense Secretary Leon Panetta said Tuesday. According to CBS News, Panetta told
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With the year-end deadline approaching for Republican and White House negotiators to reach a compromise on avoiding the fiscal cliff, a West Virginia lawmaker is still optimistic a deal can happen. National
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A group of 11 House Republicans and 11 House Democrats have sent a letter to President Barack Obama asking for defense cuts to be part of a budget agreement ahead of the
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The Office of Management and Budget has directed the Defense Department to start planning for budget cuts under sequestration, American Forces Press Service reports. Pentagon Press Secretary George Little told reporters the
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