automatic spending cuts

Spending Cuts In Place, Obama and GOP Brace for Next Battle

Severe spending cuts now the law of the land, President Barack Obama and congressional Republicans placed the blame squarely on each other for any damage the cuts might inflict.

Fiscal Cliff 'Cliffs Notes': How We Got to the Edge in 5 Easy Steps

Back in July 2011, President Obama and Congress set the country on autopilot toward economic Armageddon to give themselves an incentive to reach a budget deal. It didn't work. As we stare over the fiscal cliff, let's take a quick look back at the path we took to get here.

The Debate, Defense and the Fiscal Cliff: Why Tonight Is Really About the Budget (Again)

Tonight's presidential debate is ostensibly about foreign policy, but budget politics will underlie everything the two candidates say. That's because America's foreign policy is scripted by two factors: its pocketbook and its willingness to write checks for overseas military engagements.

Fiscal Cliff: What Really Happens If We Go Over It

It's still unclear what lawmakers will do to address $7 trillion in looming tax increases and spending cuts. If they do nothing by Dec. 31, here's what will happen.

Report: U.S. to Lose 2 Million Jobs If Automatic Spending Cuts Hit

Automatic cuts in federal spending will cost the economy more than 2 million jobs, from defense contracting to border security to education, if Congress fails to resolve the looming budget crisis, according to an analysis released Tuesday.