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US House of Representatives Rejects Stopgap Measure

Posted September 21st, 2011 at 8:10 pm (UTC-5)
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The Republican-controlled U.S. House of Representatives has defeated a bill that would have funded federal government operations past September 30, when current funding is set to expire. The measure failed Wednesday by a vote of 195 in favor to 230 against, with 48 Republican members rebelling against their leaders and voting against it. The stopgap […]

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Top US Military Officials Say Budget Cuts ‘Tough’ but Doable

Posted September 20th, 2011 at 5:43 pm (UTC-5)
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U.S. Secretary of Defense Leon Panetta says it will be “very difficult” to cut more than $450 billion over the next decade from the nation’s defense budget, but he says he also sees it as an opportunity to reshape U.S. armed forces for the future. Panetta told reporters Tuesday that defense spending has nearly doubled […]

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Pelosi Announces Final Three Members of US Budget Committee

Posted August 11th, 2011 at 1:50 pm (UTC-5)
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A congressional committee on finding measures to reduce the nation’s deficit is complete, now that House of Representatives Minority Leader Nancy Pelosi has announced her three choices. Pelosi said Thursday she has selected the third-ranking House Democrat James Clyburn, Democratic Caucus Vice Chair Xavier Becerra, and the senior Democrat on the House Budget Committee, Chris […]

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US Lawmakers Announce Budget Committee Choices

Posted August 10th, 2011 at 3:05 pm (UTC-5)
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Leaders of the U.S. Senate and House of Representatives have named nine of the 12 members of a committee that will be expected to find up to $1.5 trillion in savings to further reduce the nation’s deficit. White House spokesman Jay Carney Wednesday said President Barack Obama expects the members to take their work seriously. […]

Tags: , , , , Posted in Economy, US

US Lawmakers Announce Budget Committee Choices

Posted August 10th, 2011 at 2:00 pm (UTC-5)
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Leaders of the U.S. Senate and House of Representatives have named nine of the 12 members of a committee that will be expected to find up to $1.5 trillion in savings to reduce the nation’s deficit. The White House said Wednesday that President Barack Obama expects the members of the panel to make a serious […]

Tags: , , , , Posted in Economy, US

U.S. Lawmakers Announce Budget Committee Choices

Posted August 10th, 2011 at 1:00 pm (UTC-5)
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Leaders of the U.S. Senate and House of Representatives have named nine of the 12 members of a committee that will be expected to find up to $1.5 trillion in savings to reduce the nation’s deficit. Senate Majority Leader Harry Reid, a Democrat, announced Wednesday that his picks for the panel are Democratic Senators Patty […]

Tags: , , Posted in Economy, US

US Military Chiefs Warn Against Further Defense Cuts

Posted August 4th, 2011 at 4:45 pm (UTC-5)
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U.S. Defense Secretary Leon Panetta and Chairman of the Joint Chiefs of Staff Michael Mullen say they are concerned about the possibility of further defense spending cuts. Panetta and Mullen told reporters Thursday that they understand the need for the $350 billion in defense cuts in the deal to raise the debt ceiling that was […]

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EU Ministers Discuss Budget for 2014-2020

Posted July 28th, 2011 at 5:30 pm (UTC-5)
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European Union ministers have gathered in the Polish resort town of Sopot on the Baltic coast to discuss the bloc’s budget for the next seven-year period starting in 2014. The two-day meeting called by Poland, which currently holds the EU’s six-month rotating presidency, began Thursday. The informal talks among the bloc’s European affairs ministers are […]

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Fayyad to Detail Palestinian Budget Crisis to Arab League

Posted July 26th, 2011 at 6:10 am (UTC-5)
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Palestinian Authority Prime Minister Salam Fayyad is set to outline the government’s budget crisis at an emergency meeting of the Arab League, and to urge members to deliver pledged aid. Palestinian officials said the meeting Tuesday in Cairo was called at the request of Palestinian President Mahmoud Abbas, as the West Bank government struggles with […]

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Japan Passes Second of Three Quake Recovery Budgets

Posted July 25th, 2011 at 6:05 am (UTC-5)
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Japan’s parliament approved a $25 billion extra budget Monday to help pay for disaster relief and rebuilding after the devastating March 11 earthquake and tsunami. The budget is seen as a stop-gap measure between an initial $51 billion package passed in May and a third extra budget estimated to be around $127 billion. It was […]

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