Latest 'Fiscal Cliff' News
A list of the most recent stories about Fiscal Cliff.
Projected lower deficit could slow any budget deal
The good news is the budget deficit for the current year is projected to come in well below what was estimated just a few months ago. The bad news for deficit hawks is that the development could further curb the already slowing momentum for a budget pact this year. A ...
Trio of troubles threatening Obama's second term
President Barack Obama seemed to lose control of his second-term agenda even before he was sworn in, when a school massacre led him to lift gun control to the fore. Now, as he tries to pivot from a stinging defeat on that issue and push forward on others, the president ...
Dems, GOP talk up deficit reduction, but don't act
Liberals' loud objections to White House proposals for slowing the growth of huge social programs make it clear that neither political party puts a high priority on reducing the deficit, despite much talk to the contrary. For years, House Republicans have adamantly refused to raise income taxes, even though U.S. ...
Ohio business owners cautious about economy
Many small and mid-sized business owners in Ohio, cautious about the outlook for the state’s economy, plan to hold back on hiring in the coming months, according to a PNC Financial Services Group survey. Expectations for hiring are little changed from PNC’s past surveys conducted fall 2012 and springtime a ...
Parting bonuses ‘taxpayer-funded wet kiss goodbye’
Area lawmakers in Washington spiked their staffs’ pay at the end of 2012, often by more than $10,000 a person, according to a Dayton Daily News analysis of congressional pay data.The most generous bosses were defeated and retiring lawmakers on their way out the door, including U.S. Rep. Steve Austria, ...
Local hospitals to lose $43M in healthcare fees
Local hospitals are facing cuts in reimbursements and other payments of more than $43 million over the next four years as a result of the American Taxpayer Relief Act signed into law in early January to stave off the so-called fiscal cliff. The law was cheered by doctors’ groups for ...
Portman once had high hopes for deal
With all the finger-pointing and name-calling over the so-called sequester, it’s easy to forget there were once high hopes for a negotiated deal on a deficit reduction plan. And no one back then was more optimistic than Sen. Rob Portman. Portman, R-Ohio, was one of 12 members of the Joint ...
Boehner issues statement on sequestration
House Speaker John Boehner issued this statement Friday on sequestration: “For 16 months, President Obama and his party in the Senate knew that unless they acted, the president’s sequester would go into effect on March 1st. Still, despite the House doing its part on two separate occasions over 10 months, ...
Most of Congress goes home as budget cuts hit
Congress went home for the weekend without meeting Friday’s deadline to reverse the first round of the $1.2 trillion in federal budget cuts scheduled to hit over the course of the next decade. The immediate impact of the cuts on the public is uncertain. With no last-minute plans to seek ...
Urgency from Congress missing as deadline looms
Congress has less than a week to undo scheduled spending cuts of $1.2 trillion, but the halls of Congress last week didn’t just lack urgency. They lacked people. Both the House and Senate were on recess, with members in their districts rather than in Washington. The stock market chugged along, ...
Speaker Boehner responds to DDN article on defense budget cuts
Today, House Speaker John Boehner, R-West Chester Twp., released the following column discussing sequestration and the looming March 1 deadline. “Over the past 10 years, more than $100 million in EPA grants have gone to foreign countries. The IRS spends $4 million annually to run its own full-service television studio. ...
Consumers: Less take-home pay means less spending
Consumers’ newfound reluctance to spend their smaller paychecks is sending shock waves throughout the economy, from area restaurants and shopping malls to Ohio’s largest employer. A National Retail Federation survey released Thursday showed that nearly three out of four consumers — 73.3 percent — said they would cut back on ...
Senate even losing money on haircuts
America’s taxpayers are paying a hefty price for the well-groomed appearance of the U.S. Senate’s members and staff. Since 1997 the Senate Hair Care shop has consistently run deficits of about $340,000 annually, a taxpayer subsidy that is growing rather than shrinking. Critics point to the salon as another example ...
Air Force outlines sequester cuts
Massive defense budget cuts could lead to the furlough of 180,000 Air Force civilian employees around the world, reduce military readiness and mean fewer aircraft in the fleet, according to an Air Force document outlining what cuts will have to be made if the scheduled sequestration isn’t stopped before March ...
Economy shows sign of strength
By Christopher S. RugaberAP Economics WriterWASHINGTON (AP) — The U.S. job market is proving sturdier than expected at a time when the economy is under pressure from Washington gridlock and the threat of government spending cuts.Employers added 157,000 jobs in January, and hiring was much stronger at the end of ...
US consumer confidence plunges on higher taxes
By Martin CrutsingerAP Economics WriterWASHINGTON (AP) — U.S. consumer confidence plunged in January to its lowest level in more than a year, reflecting higher Social Security taxes that left Americans with less take-home pay.The Conference Board said Tuesday that its consumer confidence index dropped 8.1 points in January from December ...
School districts brace for new funding plan
Gov. John Kasich plans to present his long-promised, long-awaited school funding model at the end of the month, but he and his staff members are keeping quiet about details.During the past year, Kasich has hinted at how the state will allocate billions of dollars to Ohio’s 3,900 schools.He has said ...
New GOP strategy: focus on sequester
A new House Republican plan could reduce the threat of a government default but increase the possibility of sweeping, mandatory budget cuts that could hurt Wright-Patterson Air Force Base and other Defense facilities. House Republican leaders Friday announced plans for a three-month extension of the nation’s debt ceiling in order ...
How to save $50-$100 each month
Tax hikes are going into effect as a result of the fiscal cliff deal, which means many people will be getting a smaller paycheck. Now is a good time to talk about saving money, according to Tracy A. Fors, vice president of marketing and business development for Wright-Patt Credit Union ...
Holiday retail sales up 3%
Holiday retail sales rose 3 percent nationwide in 2012, less than the 4.1 percent jump initially projected by the National Retail Federation and disappointing in light of the strong start provided by Thanksgiving and Black Friday weekend. Some southwest Ohio malls, however, say they believe the stores in their retail ...
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