House Speaker Boehner said he would continue to insist that the next debt-ceiling increase be accompanied by matching spending cuts, raising the prospect of a showdown when the borrowing limit expires this spring.
After warning that across-the-board spending cuts would have catastrophic effects, White House officials are trying to play down fears that people will suffer hardships right away.
While the White House and Congress failed to reach an agreement to avoid automatic spending cuts that began taking effect on March 1, Sen. Kelly Ayotte, R-N.H., said she is still open to the idea of a “big agreement” to address the country’s long-term fiscal…
It’s official: President Barack Obama has signed an order – as required by the “sequester” legislation – to enact broad cuts to federal spending, according to a White House release.
First Read: The lack of urgency or negotiations to avoid the pending spending cuts leaves impression that both sides might be fine with the sequester.
President Obama and congressional leaders today failed to reach a breakthrough to avert a sweeping package of automatic spending cuts, setting into motion $85 billion of across-the-board belt-tightening that neither had wanted to see.