All Posts Tagged With: "sequester"
President Barack Obama said he would return 5% of his presidential salary as a sign of solidarity to the federal workers who are facing upcoming furloughs because of the huge budget cuts now known as the sequester. The president earns $400,000 per year making his give back $20,000. That amounts to a very large amount [...]
On Friday, the U.S. government was hurtling toward the deep cuts in spending that threaten to set back the economic recovery in the nation, after Congressional Democrats and Republicans failed to find an agreement on another plan to reduce the deficit. The sequester of $85 billion in cuts was expected to cause a disruption in [...]
Only five days remain before the deadline for the White House and Congress to reach an agreement avoiding cuts across the board totally $85 billion divided between domestic programs and defense. The Congressional Budget Office announced it believes the cuts would make over 750,000 people lose their jobs. Little sign of movement from both Republicans [...]
The clock is ticking towards March 1 for the automatic spending cuts to start. President Barack Obama is urging Congress to find an alternative plan in order to stave off the huge cuts. Obama, says White House officials, will point out the negative effects the sequester – $1.2 trillion in cuts over 10 years - [...]
The Democrats in the Senate will announce a plan that has been long awaited that will avert the sequester. On Thursday, Senator Patty Murray from Washington will announce the plan for the Democrats. The plan would replace for the rest of 2013, the 10-year sequester. It would include new tax revenue and $120 billion worth [...]
During his weekly address on Saturday, President Obama warned that the sequester could hit the middle class hard and the economy as a whole. He urged Congress to come up with a compromise to avert the automatic cuts of over $85 billion. Obama said the families in the middle class should not be made to [...]