Government Spending & Budgets

Analysis: Sequester Affects Large Cities and Military Communities More Than Suburban and Urban Areas

March 4, 2013

“The disparity in some ways mirrors the nation’s electoral divide between Democrats and Republicans.”

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Washington Post: Sequester Spin Gets Ahead of Reality

March 4, 2013

“The ploy even has a name: the “Washington Monument” syndrome, a reference to the National Park Service’s decision to close that landmark and the Grand Canyon for two days a week after the Nixon administration cut funding in 1969.”

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Senator Claire McCaskill (D-MO) Introduces Bill to Cut Congressional Pay During Sequester

March 4, 2013

“McCaskill has successfully prevented several individual yearly pay raises since arriving in the Senate, the most recent in March of 2012. Members of Congress have not received a pay raise since 2009.”

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White House Economic Adviser: President Obama Called Senators on Saturday to Work Out Sequester Compromise

March 4, 2013

“Sperling, the director of Obama’s National Economic Council, told host David Gregory on NBC’s “Meet the Press” that Obama remains hopeful he can find a bipartisan compromise to avert the most damaging impacts of the sequester.”

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Sequester Spending Cut Exemptions Soften the $85 Billion Blow

March 4, 2013

“The 1.4 million active-duty members of the armed forces won’t get furlough notices or pay cuts. Programs at the Department of Veterans Affairs and several public aid funds designed to help the neediest will survive untouched.”

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House Republicans Proposing “Hybrid Spending Bill” to Restore $7 Billion In Sequestration Defense Spending Cuts

March 4, 2013

“House Republicans are proposing this week to restore upward of $7 billion to operations and maintenance accounts for the four military services hit hard by the automatic cuts that went into effect Friday night.”

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France Finance Minister: Government Won’t Enact Any More Austerity Measures in 2013

March 4, 2013

“The French government had promised to reduce its deficit to 3 percent of gross domestic product this year to bring it into line with European Union rules and help right the economy. But now France says that will be impossible and has asked the European Union for an extension.”

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Secretary of State John Kerry: U.S. Releasing $250 Million in Aid to Egypt

March 4, 2013

“Yet Kerry also served notice that the Obama administration will keep close watch on how Morsi, who came to power in June as Egypt’s first freely elected president, honors his commitment and that additional U.S. assistance would depend on it.”

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Budget Sequester Forcing the Federal Aviation Administration to Cut Air Traffic Controllers

March 4, 2013

“The agency has said that it will have to furlough its 47,000 workers, including air traffic controllers, at least one day per pay period to make ends meet after the cuts are implemented.”

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President Obama Issues Executive Order Mandating Sequester Spending Cuts

March 1, 2013

“President Barack Obama on Friday issued the order mandating sequester cuts across the government.”

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New Jersey Governor Chris Christie (R) Signs Revised Online Gambling Bill into Law

February 27, 2013

“By legalizing internet gaming, New Jersey could see a huge jump in state casino revenue, to an estimated $436 million in fiscal 2014 from $235 million this fiscal year, which ends June 30, according to budget documents.”

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Speaker John Boehner to Fellow House Republicans: Let the Senate Get Off Their A** This Time

February 26, 2013

“House Republicans passed their plan to replace sequester cuts with cuts of their own in the 112th Congress, rendering it useless during this session. Boehner said his chamber will “be prepared to move quickly” if the Senate passes a bill.”

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Senate Republicans Circulating Draft Bill to Cancel Sequester Cuts and Have President Obama Choose Cuts

February 26, 2013

“The plan is being advanced by some conservative Republicans who don’t want the White House to continue using the sequester as a public relations hammer.”

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Federal Reserve’s Asset Purchases Will Lose Government Hundreds of Billions of Dollars if Interest Rates Abruptly Rise

February 26, 2013

“MSCI puts the Fed’s mark-to-market loss at less than half that, or $216 billion, if the economy performs in line with consensus forecasts of gradually rising growth, inflation and interest rates.”

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#2 Senate Republican John Cornyn (TX): Pentagon Exaggerating Sequestration Defense Spending Cuts

February 25, 2013

“Sen. John Cornyn of Texas said he plans to make the case to other Republicans and the public that despite warnings from the Pentagon that the mandated cuts will be devastating, the overall amount of defense spending will actually still rise.”

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