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The 2012 Presidential and Congressional elections, the most costly in U.S. history, have concluded for all but a few races still not tallied and the results look vaguely similar to the 112th Congress
May 2, marks the 8-month mark in the countdown to possible federal budget “sequestration” that could reduce federal spending in 2013 by roughly $109 billion, across defense and nondefense discretionary spending programs
After final approval by the Senate, President Obama signed into law a historic legislative package combining new authority for the US Government to borrow at least $2.1 trillion with a variety of statutory provisions designed to offset such new borrowing by mandating spending reductions and other savings over a 10-year period
The US House of Representatives passed a debt ceiling package (Budget Control Act, House Rules Committee Amendment to S. 365) by a vote of 269 to 161 to lift the debt ceiling and avoid default
Late Sunday night, Congressional negotiators and President Obama finalized a historic legislative package combining new authority for the US Government to borrow at least $2.1 trillion with a variety of statutory provisions designed to offset such new borrowing by mandating spending reductions and other savings over a 10-year period
