Government Spending & Budgets

Former Speaker Newt Gingrich: President Obama Bullying Congressional Republicans on the Debt Ceiling

January 15, 2013

““This president is deliberately seeking confrontation,” Gingrich, a 2012 presidential hopeful, said on CBS’s “CBS This morning.” “I think he’s going out of his way to bully the House Republicans.””

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Republican Senator Rob Portman (OH): President Obama “Missing the Point” on the Debt Ceiling and Spending

January 15, 2013

““Yes, we need to raise the debt limit at some point, but we have to do it in the context of getting the spending under control. The president says we need to pay our bills. He misses the whole point. The point is we need to adjust what bills we’re paying and how we’re paying them,” Portman said.”

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Former Speaker Newt Gingrich: Congressional Republicans Can’t Sustain Threats to Default on the Debt

January 15, 2013

“”No one is going to default,” he said. “No one is going to allow the United States to not pay its bills.”"

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Drought Will Force the U.S. Federal Government To Pay Up To $16 Billion in Crop Insurance

January 15, 2013

“The Agriculture Department, which runs the program, said that the total losses from crops harvested last year would not be known for weeks, but that costs from the program were estimated to be $15.8 billion, up from $9.4 billion in 2011.”

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$50.7 Billion Hurricane Sandy Relief Aid Bill Goes to the U.S. Senate After House Passage

January 15, 2013

“The Senate still must approve the legislation before President Obama can sign it into law.”

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House of Representatives Passes $50.7 Billion Hurricane Sandy Relief Aid Bill

January 15, 2013

“The vote was 241 to 180, with 179 Republicans and one Democrat voting no. The October storm is believed to be responsible for 140 deaths and billions of dollars in damage centered in New York, New Jersey and Connecticut.”

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American Association of Retired Persons (AARP): Mend, Don’t End, Entitlements

January 15, 2013

“Rand ruled out cuts to Medicare and raising the eligibility age for that program, and also said that any changes to Social Security must be made in the context of a “broader conversation about how to help Americans prepare for a secure retirement.””

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House of Representatives Rejects Sandy Relief Bill Amendment That Would’ve Required Cuts to Offset Aid Spending

January 15, 2013

“The House rejected the amendment from Rep. Mick Mulvaney (R-S.C.) in a 162-258 vote that split Republicans 157-71. Those 71 “no” votes from Republicans were enough to kill the amendment, as all but five Democrats also voted against it.”

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Fitch Ratings: Any Delay to Raise the U.S. Debt Ceiling Would Prompt a Formal U.S. Credit Rating Review

January 15, 2013

“A repeat of the August 2011 ‘debt ceiling crisis’ would oblige Fitch to review its current assessment of the reliability and predictability of the institutional policy framework and prospects for reaching agreement on a credible medium-term deficit reduction plan.”

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House Republican Leadership Limits the Number of Amendments on the Hurricane Sandy Relief Bill to Expedite its Passage

January 15, 2013

“More than 90 amendments had been filed as of Friday but just a dozen will be made in order under a resolution reported by the House Rules Committee on Monday night following nearly four hours of testimony.”

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Audit: European Union-Funded Green Efficiency Projects Not Cost-Effective in EU-Member States

January 15, 2013

“The projects examined by the Court of Auditors were in the Czech Republic, Italy and Lithuania. Those countries received the most EU funding for such projects in 2007-2013.”

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Federal Reserve Bank of Atlanta President Dennis Lockhart: Fed’s Open-Ended Bond Purchasing Not Unlimited

January 15, 2013

“The Federal Reserve’s unconventional monetary stimulus has its limits, and could pose threats to market functioning and financial stability if pushed too far, Atlanta Fed Bank President Dennis Lockhart said on Monday.”

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U.S. Congressional Republicans Reiterate Their Insistence on Linking the Debt Ceiling to Spending

January 15, 2013

“Obama must get “serious about spending and the debt limit is the perfect time for it,” said Senate Republican leader Mitch McConnell in a statement just moments after Obama concluded a news conference in which he said he would not negotiate on the debt limit.”

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White House Informs House Budget Committee Chairman Rep. Paul Ryan It Will Miss the Deadline to Present a Budget to Congress

January 15, 2013

“Acting Budget Director Jeff Zients told Ryan (R-Wis.) in a letter late Friday that the budget will not be delivered by Feb. 4, as required by law.”

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U.S. Treasury Secretary Geithner Warns the U.S. Could Hit the Debt Ceiling “Earlier Than Expected”

January 15, 2013

“The government reached its $16.4 trillion borrowing limit on Dec. 31, but began using bookkeeping maneuvers to keep from surpassing it.”

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