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Home » Topics » budget cuts

Obama urges Congress to end ‘dumb’ budget cuts

President Barack Obama at the correspondents' dinner. Screenshot via C-SPAN.

President Barack Obama on Saturday called on the US Congress to end the “reckless” and “dumb” budget cuts known as the sequester, and to adopt a plan of “smarter” cuts to fuel economic growth. Obama’s weekly address comes after Congress on Friday overwhelming approved a bill putting furloughed air traffic…

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Attorney General Eric Holder: Budget cuts will make us less safe

Eric Holder screenshot

Attorney General Eric Holder warned on Wednesday that looming across-the-board budget cuts would harm national security. “The Justice Department is going to lose nine percent of its budget between now and September 30th,” he told Pierre Thomas of ABC News. “We’re going to lose $1.6 billion. There are not going…

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Pentagon braces for cuts as fiscal cliff looms

The Pentagon via AFP

The US Defense Department has started planning for sweeping budget cuts if Congress and President Barack Obama fail to agree to a deal to avoid a looming fiscal cliff, officials said Wednesday. The White House Office of Management and Budget (OMB) instructed the Pentagon this week to begin preparations for…

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Anti-austerity protesters urge Spain government to resign in Madrid rally

Spain protest 072112 via afp

Thousands of anti-austerity demonstrators marched in the Spanish capital Saturday calling for the conservative government to resign because of its severe budget cuts. “They don’t represent us”, “More education fewer police”, demonstrators shouted as dozens of police vehicles followed the march to near the parliament building which was cordoned off.…

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Fed sees sharp U.S. budget cuts as ‘sizable risk’

federalreserve.afp

WASHINGTON — The Federal Reserve sees a quick, sharp tightening of US spending as a “sizable risk” to the economy, minutes from a recent top-level policy meeting revealed Wednesday. “Several” members of the Fed’s interest rate-setting panel have expressed fears that uncertainty about dramatic budget cuts could curb business hiring…

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Rep. Paul Ryan denies budget lacks compassion for those in need

Rep Paul Ryan via screenshot

House Budget Committee Chairman Paul Ryan (R) on Monday denied claims that the Republicans’ reconciliation budget would hurt those most in need. Catholic bishops in the United States have claimed that budget cuts in the legislation are “unjustified and wrong” because they would hurt the poor. “You know, I think…

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Battle over EU budget set to turn ugly

European currency Euro stands in front of the European Central Bank . Image via AFP.

Negotiations over the European Union budget looked set to turn ugly Wednesday as a drive to ramp up 2013 funding ran into a push to impose a decade of austerity on Brussels. The European Commission is expected to call at 1100 GMT for a budget next year of 138 billion…

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Romney says spending cuts will slow economic growth

Former Massachusetts Gov. Mitt Romney (R). Photo: AFP.

Former Massachusetts Gov. Mitt Romney broke with Republican orthodoxy on Tuesday by claiming that budget cuts would shrink the economy, according to NBC News. “If you just cut, if all you’re thinking about doing is cutting spending, as you cut spending you’ll slow down the economy,” he said in Michigan.…

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