'Your papers, please' must never be heard in America
Independent voices from the TWT Communities
Tim Geithner is jumping from U.S. Treasury Secretary to the Council on Foreign Relations, as distinguished fellow based in New York, starting later this month.
Already Washington has begun fighting the next battle in its fiscal war of attrition. This will be its fourth fiscal engagement in just over two years and should culminate just two months after the last one.
So much for bipartisanship. President Obama held a rare press conference Monday to declare he will not negotiate with Congress over raising the debt ceiling.
President Obama officially nominated White House Chief of Staff Jack Lew on Thursday to replace departing Treasury Secretary Timothy F. Geithner, calling his key aide a man of great integrity who has his "complete trust."
President Obama will announce Thursday afternoon his nomination of White House Chief of Staff Jack Lew to serve as Treasury secretary, a White House official confirmed.
The top Republican on the Senate Budget Committee will lead a charge to try to block White House Chief of Staff Jack Lew's prospective nomination to become Treasury secretary.
The earth did not quake when the United States hit the debt ceiling on Dec. 31 and the government stopped borrowing to pay its bills.
President Obama will begin his second term with a much different leadership team than his first four years, with several of the key chairs in his Cabinet room yet to be filled.
Last week, all the major market indexes eked out positive gains, despite the late-week reversal as "fiscal cliff" discussions took a turn for the worse.
U.S. consumer confidence tumbled in December, driven lower by fears of sharp tax increases and government spending cuts set to take effect next week.
The Treasury Department will begin taking steps this week to delay hitting the government's $16.4 trillion borrowing limit. Without doing so, the debt limit would be hit on Dec. 31.
Democrats are trying to push a $60.4 billion emergency spending package for Superstorm Sandy victims through Congress by Christmas. Republicans are responding: Not so fast.
Democratic and Republican politicians alike hailed the news in 2009 that U.S. battery maker A123 Systems had won a quarter-billion-dollar federal grant, but just three years later, the company finds itself bankrupt and the target of a buyout by a Chinese competitor.
Senate Republicans forced their Democratic counterparts to block a vote on President Obama's own "fiscal cliff" budget proposal Wednesday — a move that GOP lawmakers said exposed the weakness of the White House's proposal.
The White House and Democratic congressional leaders are perfectly happy if taxes go up for most taxpayers on Jan. 1 -- especially if catapulting off the "fiscal cliff" can be blamed on Republicans.
Mr. Geithner neglected to mention the congressional ability to prioritize payments, ensuring the elderly and the military are paid in full.
Treasury Secretary Timothy F. Geithner wrote to the top four congressional leaders Monday claiming tax revenue will not cover all the spending, so things like Social Security payments, military salaries, unemployment and Medicare "would be at risk" if the debt ceiling is not raised.
