Medicare reform passed the House. But GOP leaders say they won't push Medicare vouchers in the current round of spending talks.
The members of the House and Senate who were appointed to the latest presidential deficit panel represent the starkest partisan views on Capitol Hill. But that could be a good thing.
Corporate taxes should be simplified and rate lowered, Obama says. But many loopholes have a powerful constituency.
Keith Olbermann, last show on Friday, leaves MSNBC after eight years. His sudden exit, midway through his contract, has some saying he's been fired and others pointing to new owner Comcast.
Tax reformers are pushing the president, but aren't sure it's at the top of his agenda.
More than 2 million unemployed people awoke Wednesday to the prospect that they may no longer have unemployment checks to help them pay rent or buy food and gas. Congress on Tuesday failed to renew an extension of unemployment benefits that it passed at the end of July. Democrats have argued that with unemployment at 9.6 percent, many people still need help. Republicans say they would like to help the jobless, but want the $5 billion per month cost to be funded by a spending cut somewhere in the federal budget.
Coined from an 1863 story called “The Children of the Public,” pork-barrel spending referred to any public funds spent to benefit the public. Over time, the term has evolved, referring to projects seen as wasteful, or that may only benefit a small group but the costs are spread out between all taxpayers. Of course, often, one politician's pork is another politician's legitimate expense. The Citizens Against Government Waste puts out an annual "Congressional Pig Book" that listed 9,129 projects at a cost of $16.5 billion in 2010.. Here a selection of US "pork" projects from recent years:
BP says it will seek a $9.9 billion tax write-off based on the $32 billion it expects to spend on Gulf oil spill cleanup and recovery. One US senator is already calling for hearings to prevent it.
Employers won't create jobs until they have a clear sense of what comes next in taxes and regulation, say Republicans. House GOP leader John Boehner proposes a moratorium on new government regulations for a year and keeping the Bush tax cuts.
BP CEO Tony Hayward insisted Thursday he was "devastated" by the BP oil spill and denied shunning tough questions from a House subcommittee.