The US overall debt has risen to $16.7 trillion as the borrowing limit suspension expired Sunday, The Hill reports. Peter Schroeder reports that the last time the borrowing limit was suspended earlier
MoreSenate Minority Leader Mitch McConnell revealed in an interview with ABCâs âThis Weekâ that Republicans will focus on spending cuts following the budget negotiations which took place on tax rates last week,
MoreOfficials 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
MoreThe Defense Department has submitted a draft budget plan to President Obama that includes the $450 billion in cuts required from the debt ceiling compromise, according to Bloomberg. It does not include
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In mid-October, Defense Secretary Leon Panetta told the House Armed Services Committee he wanted the Pentagon to be ready for an audit by 2014, three years earlier than the deadline mandated by
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Lawmakers on Capitol Hill had to pass another stopgap funding measure before Thanksgiving, but had one measure of budget success as they passed a “minibus” bill to fund several Cabinet departments and
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Net neutrality regulations, designed to prevent Internet service providers from prioritizing traffic, will remain on the books for the time being. By a narrow 52-46 vote, the Senate overturned a largely-Republican sponsored
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