The Republicans' midterm surge has given the federal debt-reduction commission -- whose recommendations are due Dec. 1 -- a chance to stand up and be counted. The panel is bipartisan, but as long as Democrats were able to have their way ultimately in both houses of Congress, Republican members had little clout. Now that the balance of power has shifted, the ideas of the panel's deficit hawks, such as Rep. Paul Ryan (R-Wis.), may get a bit more respect. Co-chairs Erskine Bowles (chief of staff for Bill Clinton) and Alan Simpson (former GOP senator from Wyoming) have offered a proposal, but it's only a draft. We'll know the commission blew its opportunity ...
"This committee doesn't function well on a partisan basis, and in the 22 months that I've been chairman of it we've never acted that way." That was Senate Banking Committee Chairman Chris Dodd speaking in December of 2008, when American voters had the audacity to believe a new President's promise to rise above the short-sightedness of partisan Washington and unite most Americans around solving big problems.
When President Obama presented his budget for the upcoming fiscal year, he demanded that lawmakers forgo "the same old grandstanding when the cameras are on and the same irresponsible budget policies when the cameras are off."
Left to their own devices, lawmakers won't successfully deal with the country's spiraling debt situation. That's the opinion of some key members agitating for a special commission to force the hand of Congress.
President Obama is seriously considering an executive order to create a bipartisan commission that could weigh sweeping tax increases and spending cuts to try to slash the soaring federal deficit, CNN has learned.
Throughout our history, each generation made sacrifices to better the lives of the next generation. Part of the American dream has included passing on to your children hope for the future and the possibility of prosperity.
Republican Sen. Judd Gregg withdrew his nomination as President Barack Obama's commerce secretary Thursday, citing "irresolvable conflicts" over the administration's stimulus bill and the upcoming 2010 census.
President Obama took his economic stimulus proposal back on the road Thursday, urging final congressional passage of the now-$789 billion bill during a visit to a Caterpillar plant in the state that launched his political career.
U.S. Sen. Judd Gregg won't take the job of commerce secretary in the Obama administration if his appointment would tip the Senate balance of power in favor of Democrats, the chamber's Republican leader said Sunday.
Billionaire Warren Buffett told congressional negotiators that if they can't agree on a proposed financial bailout, the nation will face "its biggest financial meltdown in American history," two sources familiar with the talks said.
In a 367-45 vote, the House on Friday afternoon passed tax legislation that would renew for two years a host of expired business tax credits and popular individual tax breaks, and introduce a new, one-year itemized deduction for mortgage insurance premiums.
Because this broadcast focuses intensely on the issues that matter most to working and middle-class men and women, I am often critical of both political parties and both houses of Congress and this administration.
Both Republican and Democratic senators took aim Tuesday at the president's proposed 2007 homeland security budget in a hearing, saying it fails to live up to Bush's strong warnings about the threat of terrorist attack.
The cost of caring for victims of Hurricane Katrina and rebuilding the areas it wiped out could cost the federal government up to $200 billion, much higher than previous estimates, a newspaper report said Wednesday.
Senators on Tuesday pressed Health and Human Services nominee Mike Leavitt for a permanent commissioner for the Food and Drug Administration, which has been without one for nearly a year amid rising concerns about the safety of drugs on the market.
The number of Americans living in poverty jumped to 35.9 million last year, up by 1.3 million, while the number of those without health care insurance rose to 45 million from 43.6 million in 2002, the U.S. government said in a report Thursday.