WASHINGTON (Reuters) – The “fiscal cliff,” a metaphor drawn from nature, was actually created by members of the U.S. Congress, who designed it to be so horrible that they and the president would come to their senses and avert it in the nick of time.
That time is now with the start this week of a lame-duck session of Congress. But it is not at all certain that Republicans and Democrats are ready to make the compromises necessary to undo the trap they set in August 2011.
WASHINGTON (Reuters) – Tea Party candidates may have spoiled Republican chances of taking control of the U.S. Senate, but the small-government movement will continue to hold sway in Washington for at least the next few years on fiscal – if not social – issues, experts said on Wednesday.
If not for the poor performance of some Tea Party-backed Senate candidates in both the 2012 and 2010 elections, Republicans could have been in the majority in the chamber. Instead, much to Republicans’ dismay, Democrats have actually become stronger.
WASHINGTON (Reuters) – In a sign of trouble ahead in resolving the “fiscal cliff”, Democratic and Republican leaders on Wednesday claimed new but conflicting election “mandates” on how and when to deal with tax increases and spending cuts that threaten a U.S. recession.
Amid promises not to draw lines in the sand, congressional leaders did just that, staking out well-worn bargaining positions despite President Barack Obama’s appeals for compromise after his election victory.
WASHINGTON, Nov 7 (Reuters) – It may have been the most
unpopular U.S. House of Representatives in modern times, but
that did not stop voters on Tuesday from leaving it firmly in
Republican hands, according to projections.
The election results might disappoint those who had hoped
for new and clear marching orders from voters on such issues as
the deficit or immigration.
WASHINGTON (Reuters) – The most unpopular House of Representatives in modern times was left pretty much unchanged by voters Tuesday with control firmly in Republican hands, according to projections.
The partisan brand of politics practiced by Republicans for the past two years appeared not to have seriously damaged the party.
WASHINGTON, Nov 4 (Reuters) – The U.S Congress fell to new
depths of public disapproval in the past two years, yet no big
shake-up of the Senate or House of Representatives is expected
in Tuesday’s general election.
With days remaining before the vote, Democrats were expected
to fend off what is seen as a fading Republican challenge for
control of the Senate, with a 50-50 tie also a possibility.
(Reuters) – Hurricane Sandy has silenced the thousands of slot machines and high-rollers who normally crowd the black jack and roulette tables of Atlantic City, but the resort’s casino companies wager they could be back in business within days.
The storm that swept up the East Coast of the United States on Monday made landfall near Atlantic City, ripping up several blocks of its famous boardwalk and tearing roofing off casinos and hotels.
WASHINGTON (Reuters) – A U.S. debt-ceiling increase could be headed for a Wall Street-rattling showdown in 2013 if Congress, as expected, shuns a quick and easy fix at the end of this year in favor of another round of last-minute brinkmanship.
Regardless of who wins the November 6 elections, many congressional aides and Capitol Hill observers are predicting that lawmakers will go right up to the deadline – probably around mid-February or early March – before increasing the $16.4 trillion limit on borrowing that is nearly exhausted.
WASHINGTON (Reuters) – An idea percolating in the Congress, aimed at helping avoid the “fiscal cliff,” would scrap the steep across-the-board spending cuts of $109 billion set to start on January 2 and replace them with more targeted savings of about $55 billion, according to aides familiar with the discussions.
Further measures to reduce the deficit would be considered later in 2013 under this approach.
WASHINGTON, Oct 12 (Reuters) – The Obama administration said
on Friday it has not changed its stance on letting tax rates
rise at year-end for high-income Americans, despite comments
from Vice President Joe Biden in Thursday night’s debate that
seemed to suggest a shift.
“Our position on the Bush tax cuts has not changed,” White
House spokesman Jay Carney told reporters on Friday, referring
to the expiration in 2013 of tax cuts enacted a decade ago under
Republican President George W. Bush.