A Federal Reserve survey shows the U.S. economy held steady during the 16-day partial government shutdown, growing moderately in most regions from October through late November.More >>
A Federal Reserve survey released Wednesday found that the U.S. economy held steady during the 16-day partial government shutdown, growing moderately in most regions from October through late November.More >>
Thursday, October 17 2013 4:40 PM EDT2013-10-17 20:40:19 GMT
(RNN) - By passing a last-minute deal on the debt ceiling, and a 16 days-late deal on the government shutdown, Congress finally got back to doing its job. So, what now? Some people may see it as the timeMore >>
With a budget passed only until January, a debt ceiling deal through February and a bunch of days off for Congress until then, the country may be back in the same situation soon.More >>
Thursday, October 17 2013 5:27 AM EDT2013-10-17 09:27:22 GMT
A last-minute deal has been struck, allowing the federal government to avoid a shutdown. A shutdown would have suspended all federal government services deemed non-essential. All federally-funded museums,More >>
Congress has passed a bill to fund the government and lift the debt ceiling, avoiding default. More >>
Sunday, October 13 2013 6:52 PM EDT2013-10-13 22:52:24 GMT
WASHINGTON, DC (RNN) - Despite the WWII Memorial being closed, members of the Million Vet March have gathered in Washington, DC to protest the government shutdown – according to media reports. "We do notMore >>
Veterans gathered at the World War II Memorial in Washington, DC to protest the government shutdown.More >>
Sunday, November 10 2013 7:00 AM EST2013-11-10 12:00:14 GMT
(RNN) - Forced budget cuts, or sequestration, will take food from mouths as well as money from the pockets of the working poor as U.S. poverty are projected to increase to levels unseen since 1960. ExpertsMore >>
The number of families in poverty may increase as constantly changing political issues and talking points don't include and focus on America's impoverished population.More >>
Friday, September 20 2013 11:44 AM EDT2013-09-20 15:44:06 GMT
(RNN) - The House debate on the bill commenced Friday morning following a 230-192 vote Thursday night approving the rules governing the debate. The bill is intended to temporarily avoid a government shutdownMore >>
The House has voted on a bill intended to temporarily avoid a government shutdown by shifting funding away from President Barack Obama's new healthcare law.More >>
Tuesday, November 16 2010 3:55 PM EST2010-11-16 20:55:38 GMT
Flying on older airplanes could be a thing of the past.More >>
(RNN) - Hours before the budget cuts known as sequestration were set to take effect, President Barack Obama signed the order to begin $85 billion in across the board reductions.
The deadline for a deal to avoid the cuts was 11:59 p.m. Friday.
The White House Office of Management and Budget on Friday sent to Congress its report detailing cuts and laying blame for failing "to enact balanced deficit reduction legislation that avoids sequestration."
According to the Associated Press, the reductions will result in furlough notices to many government employees and will trim government spending on defense contracts and domestic government programs.
The Federal Aviation Administration says flights to major cities like New York and Chicago could face up to 90 minute delays during peak hours because of fewer air traffic controllers on duty. The FAA says they're also considering closing some air traffic control towers at less busy airports and eliminating midnight shifts at more than 60 control towers.
Seasonal employees of the country's national parks will be hired later than usual or not at all, according to Jon Jarvis, director of the National Parks Service.
Immigration and Customs Enforcement has already released some illegal immigrant detainees they call low risk.
Obama met with top Congressional leaders and Vice President Joe Biden early Friday and left with no solution to the looming deadline.
At a news conference early Friday, before he signed the order to set the cuts into motion, Obama said, "Not everyone will feel the pain of these cuts right away. The pain, though, will be real."
"The longer these cuts remain in place, the greater the damage to our economy - a slow grind that will intensify with each passing day."
The president hoped to avoid sequestration by a package that included hiking taxes. Republicans wanted spending cuts, but said they wouldn't agree to tax hikes.
While the president put the blame for the sequestration on Republicans in Congress, Republicans say the sequestration was the president's idea in the first place.
Beginning with agreements set by the Budget Control Act of 2011, the budget cuts equate to $85 billion trimmed from the 2013 fiscal year budget, beginning March 1. Nine percent will be cut from all non-defense spending and 13 percent will be cut from defense spending.
Government benefit programs protected from sequestration are Social Security, Medicaid, Children's Health Insurance Program, food stamps, military personnel and Veterans Administration.
An image of the sequestration order has began circulating the internet since the announcement.
The last time the Senate passed a full budget for the fiscal year was in April 2009.
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With the recent threat of the sequester only days away, many don't have a clear understanding of what the most damaging effects are.More >>
With the recent threat of the sequester only days away, many don't have a clear understanding of what the most damaging effects are. WhiteHouse.gov released a fact sheet, breaking down the effects of the sequester by the numbers.More >>
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