Latest 'Fiscal Cliff' News
A list of the most recent stories about Fiscal Cliff.
Projected lower deficit could slow any budget deal
The good news is the budget deficit for the current year is projected to come in well below what was estimated just a few months ago. The bad news for deficit hawks is that the development could further curb the already slowing momentum for a budget pact this year. A ...
Trio of troubles threatening Obama's second term
President Barack Obama seemed to lose control of his second-term agenda even before he was sworn in, when a school massacre led him to lift gun control to the fore. Now, as he tries to pivot from a stinging defeat on that issue and push forward on others, the president ...
Dems, GOP talk up deficit reduction, but don't act
Liberals' loud objections to White House proposals for slowing the growth of huge social programs make it clear that neither political party puts a high priority on reducing the deficit, despite much talk to the contrary. For years, House Republicans have adamantly refused to raise income taxes, even though U.S. ...
Boehner issues statement on sequestration
House Speaker John Boehner issued this statement Friday on sequestration: “For 16 months, President Obama and his party in the Senate knew that unless they acted, the president’s sequester would go into effect on March 1st. Still, despite the House doing its part on two separate occasions over 10 months, ...
Most of Congress goes home as budget cuts hit
Congress went home for the weekend without meeting Friday’s deadline to reverse the first round of the $1.2 trillion in federal budget cuts scheduled to hit over the course of the next decade. The immediate impact of the cuts on the public is uncertain. With no last-minute plans to seek ...
Speaker Boehner responds to DDN article on defense budget cuts
Today, House Speaker John Boehner, R-West Chester Twp., released the following column discussing sequestration and the looming March 1 deadline. “Over the past 10 years, more than $100 million in EPA grants have gone to foreign countries. The IRS spends $4 million annually to run its own full-service television studio. ...
Speaker Boehner responds to DDN story on possible Wright-Patt cuts
Today, Speaker John Boehner, R-West Chester Twp., released the following column discussing the impact the president’s sequester will have on Wright-Patterson Air Force Base: “In 2011, President Obama proposed a series of mandatory spending cuts called a ‘sequester,’ which was subsequently passed by Congress as part of the 2011 debt ...
Holiday retail sales up 3%
Holiday retail sales rose 3 percent nationwide in 2012, less than the 4.1 percent jump initially projected by the National Retail Federation and disappointing in light of the strong start provided by Thanksgiving and Black Friday weekend. Some southwest Ohio malls, however, say they believe the stores in their retail ...
Why do I have a smaller paycheck this year?
Even with Congress and President Obama reaching an 11th-hour deal to prevent the country from going over the much-hyped “Fiscal Cliff,” the New Year has brought an increase in taxes for all American families — and for many that means an almost immediate reduction in take-home pay. We checked in ...
Communty food pantries remain busy in "uncertain" times
The Fish Choice Food Pantry serving Darke County is seeing new faces at their pantry. They believe it could be because of the "fiscal cliff" and employment uncertainies, pending federal cuts to balance the budget, tax increases and tax reforms.
Ohio economy to grow fastest in 16 years
Ohio’s economy will expand in 2013 at the fastest rate in more than 16 years, but growth will still remain slow and unemployment will not decline as sharply as it did in previous years, according to an economic forecast by a major financial institution. The resurgence of the automotive and ...
Budget era could mean fewer Air Force programs
The Air Force Materiel Command’s top leader said it’s unlikely the military branch will launch the number of new programs it once did in an era of budget austerity and with the impact of potential automatic, across-the-board defense cuts still unknown. Those impacts won’t be known until Congress acts to ...
Fight coming over federal spending is ‘going to be worse’
Just days after Democrats and Republicans agreed to prevent hundreds of billions of dollars of federal taxes and spending reductions from going into effect, the divided political parties face an even more intense struggle next month over cutting federal spending.“It’s going to be worse,’’ said Columbus-area Rep. Pat Tiberi, R-Genoa ...
Boehner re-elected speaker of the House
Newly re-elected House Speaker John Boehner yesterday warned his colleagues that the American dream “is in peril’’ as long as the federal government is “weighed down by this anchor’’ of trillions of dollars of debt and projected annual deficits during the next decade. Just moments after 220 House Republicans gave ...
Steve Austria looks back on career in Congress
Steve Austria spent his last few days in Congress scrambling to avoid the fiscal cliff, yet despite that painful duty, his biggest regret about his years in Congress is leaving too soon. Austria made history in 2008 when he became the first son of a Filipino immigrant elected to the ...
Commissioner appears on national morning show
A Warren County commissioner said maintaining a balanced budget “wasn’t that hard” during his appearance Friday on a nationally televised news program.Warren County Commissioner Dave Young appeared on the Fox News Channel’s morning show “Fox and Friends” to tout Warren County’s lack of debt and overall prosperity.“We really don’t think ...
Officials say WPAFB temporary layoffs might be 'unavoidable' in budgets
Job furloughs for the civilian defense workforce won’t be used right away if a deal is not struck this week to avert the fiscal cliff, but the Pentagon’s top leader said temporary layoffs later might be unavoidable. Secretary of Defense Leon Panetta outlined the plan to the Pentagon workforce last ...
Obama to press for policy changes after shooting
President Barack Obama is launching an administration-wide effort to curb gun violence, underscoring the growing political consensus over tightening gun restrictions following the horrific massacre at a Connecticut elementary school. Obama is tasking Vice President Joe Biden, a longtime gun control advocate, with spearheading the effort. In remarks from ...
White House rejects Boehner plan to avoid ‘fiscal cliff’
House Speaker John Boehner Tuesday floated the idea of a “Plan B” approach to the looming fiscal cliff that would extend current tax rates for all but those making more than $1 million a year, but the plan was quickly panned by the White House as well as Senate and ...
‘Fiscal cliff’ across-the-board budget cuts could impact Wright-Patterson Air Force Base
Frustration is mounting among defense officials about the lack of information on how across-the-board budget cuts could impact Wright-Patterson Air Force Base and Ohio defense contractors, U.S. Sen. Rob Portman said. The White House Office of Management and Budget last week told the Pentagon to begin planning for sequestration, an ...
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