Tweet President Barack Obama laid out a plan that would change the course of the armed forces in the United States. The plan calls for the reduction of the military’s size that would limit its ability to wage long-term conflicts. The president proposed a 14 percent decrease in troops, which would not allow it to conduct two ground wars at the same... 

Tweet Progress is seen in the talks over government funding and payroll tax extension as House Speaker John Boehner, Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell met for an hour in the Capitol last Wednesday. They didn’t say whether a compromise was met but the meeting is a good sign that the leaders are working with each... 

Tweet The Senate failed to extend the payroll tax break last week but there are renewed efforts to push for a compromise measure. Republicans usually are in favor of any tax cuts but they helped defeat the payroll tax break extension attempts. They don’t like how to pay for the tax breaks. Democratic Senator Ben Cardin said that the Republicans have... 

Tweet The White House ordered an independent review of loans made by the Energy Department as a response to the criticisms it received over the Solyndra bankruptcy. This came just in time when House Republicans are preparing for a possible vote next week to summon White House documents that are related to the fallen company. White House officials said... 

Tweet Republican presidential hopeful Rick Perry proposed that Americans should be able to choose from their existing income tax rate or a new flat tax rate of 20 percent. This is part of his tax and spending reform plan called Cut, Balance and Grow. He said that the goal of his Cut, Balance and Grow plan is to create jobs, solve the current economic... 

Tweet US stocks improved as Germany and France promised to solve the sovereign debt and euro zone’s banking issues. The Dow Jones Industrial Average raised 330.06 points or 2.97 percent to 11,433.18, which is its largest gain since August 11. It is the highest close since the middle of September. All 30 Dow components increased. Bank stocks led the... 

Tweet Standard & Poor’s downgraded the U. S. credit rating to double A-plus from triple A, which added more uncertainties to the global market that’s already plagued by concerns about debt issues and slow economic growth. There’s not much difference between triple A and double A-plus ratings. Double A is considered high-grade credit while triple-A... 

Tweet Before Congress agreed to a compromise on the debt limit, the U. S. stock market was in a panic. It dropped last Thursday but investors are optimistic that it would pick up after the federal government prevented a default from happening. Investors are still facing a bleak future with possibilities of recession and severe global economic slowdown.... 

Tweet President Barack Obama signed into law a compromise plan that would increase the country’s debt limit a few hours before the midnight deadline. This would prevent a default from happening that could be disastrous not only to the United States but also to the rest of the world. The Senate passed the plan a little after noon last Tuesday. It enforces... 

Tweet House Speaker John Boehner got the Republicans in the House of Representatives to approve the debt limit bill with a vote of 269-161. The compromise bill will give the federal government the ability to borrow $400 billion dollars more and let President Barack Obama ask for another $500 billion in the next couple of months. Congress said that it...