Showing Archived Posts

US: Obama Urges Middle-Class Tax Cut Extension

Posted July 9th, 2012 at 1:30 pm (UTC-5)
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U.S. President Barack Obama is renewing a contentious political fight, calling for an extension of tax cuts for middle-class Americans but not for wealthier people. With the presidential election less than four months away, Mr. Obama invited taxpayers to the White House on Monday who would benefit from renewal of the tax cuts beyond their […]

Tags: , , , Posted in Economy

Sudan Slashes Spending Amid Money Woes

Posted June 18th, 2012 at 1:55 pm (UTC-5)
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Sudan’s President Omar al-Bashir has announced radical spending cuts, amid signs of severe financial stress for his government. Speaking to lawmakers Monday, Mr. Bashir said his cabinet and all levels of government will have to accept budget cuts of 45 to 50 percent. “That includes the legislative assembly, federal ministries, ministers, experts, and contractors (who) […]

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What if the Supercommittee Fails?

Posted November 21st, 2011 at 12:35 pm (UTC-5)
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What if the supercommittee fails? Spending cuts totaling $1.2 trillion will be triggered if the supercommittee does not reach a deal. The cuts are to be split between defense and non-defense spending, estimated at $55 billion in each type of spending per year from 2013 through 2021. U.S. Defense Secretary Leon Panetta has warned that […]

Tags: , , , , , Posted in US

What if the Supercommittee Fails?

Posted November 21st, 2011 at 10:05 am (UTC-5)
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What if the supercommittee fails? Spending cuts totaling $1.2 trillion will be triggered if the supercommittee does not reach a deal. The cuts are to be split between defense and non-defense spending, estimated at $55 billion in each type of spending per year through 2021. U.S. Defense Secretary Leon Panetta has warned that such cuts […]

Tags: , , , Posted in US

BBC To Cut 2,000 Jobs Over Next Five Years

Posted October 6th, 2011 at 9:00 am (UTC-5)
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The British Broadcasting Corporation has announced plans to cut 2,000 jobs over the next five years as part of the government’s efforts to reduce a record deficit. BBC Director General Mark Thompson told the staff Thursday the decision followed a nine-month consultation with staff on ways to save money. Thompson said the 20 percent budget […]

Tags: , , , Posted in Economy, Europe

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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