Tag: Wall Street Journal

Federal employee retirement could be affected as rivals prepare for the battle of the budget

Federal employee retirement could be affected as rivals prepare for the battle of the budget

The Federal DiaryBy , Published: December 4

 

Joe Davidson writes the Federal Diary, a column about the federal workplace that celebrated its 80th birthday in November 2012. Davidson previously was an assistant city editor at The Washington Post and a Washington and foreign correspondent with The Wall Street Journal, where he covered federal agencies and political campaigns.

Like the warm-up before a big game, both sides in the battle of the budget are getting ready. And federal employees have a lot at stake in the outcome.

The team in red — the Republicans — support cuts to federal retiree benefits as one way to close the gap between Uncle Sam’s spending and his income.

The team in blue — the Democrats — say the federal workforce has already paid enough, over and over again.

So as the Budget Conference Committee, set up to resolve differences in House and Senate spending plans, prepares to resume meeting next week, members of both parties are setting markers letting everyone know what they believe is acceptable and what is not. Continue reading “Federal employee retirement could be affected as rivals prepare for the battle of the budget”

Budget Office: Next Debt Ceiling D-Day Could Come in March

Budget Office: Next Debt Ceiling D-Day Could Come in March

Steve Heap/Shutterstock.com

The government will exhaust its emergency borrowing authority sometime between March and June 2014, if Congress does not suspend or increase the nation’s debt limit again, according to a new report.

The nonpartisan Congressional Budget Office estimated that Treasury’s wiggle room to avoid breaching the debt ceiling could run out as early as March because the government typically runs a large deficit during that month and in February due to tax refunds. Still, April brings in significant tax revenue for the government so that could buy it more time on the debt ceiling, CBO reasoned. “Given the volume of the government’s daily cash flows and the uncertainty about the magnitude of key transactions during those months, the Treasury could exhaust its extraordinary measures and authority to borrow as early as March or as late as May or June,” the report said.

Continue reading “Budget Office: Next Debt Ceiling D-Day Could Come in March”

Sequestration is a Bad Fiscal Sequel

Sequestration is a Bad Fiscal Sequel

by Sean Hackbarth Feb 8, 2013
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Washington, sometimes called, “Hollywood for ugly people,” is making a lame sequel following the drama at the end of 2012. Call it, Fiscal Cliff 2: Sequestration.

“Sequestration” is the fancy DC word for the $1.2 trillion of automatic, across-the-board spending cuts over 10 years that are set to go into effect March 1. Bloomberg’s Dominic Chu shows us why it would hurt the economy. Continue reading “Sequestration is a Bad Fiscal Sequel”

Federal pay freeze extension to three years all but a done deal with Senate bill

The Federal DiaryThe Federal Diary
Joe Davidson

Joe Davidson writes the Federal Diary, a column about the federal workplace that celebrated its 80th birthday in November 2012. Davidson previously was an assistant city editor at The Washington Post and a Washington and foreign correspondent with The Wall Street Journal, where he covered federal agencies and political campaigns.

Federal pay freeze extension to three years all but a done deal with Senate bill

By , Tuesday, March 12, 7:07 PM

Just when the walloping of federal workers seemed to have reached a peak — BAM — here comes an unexpected blow from the left.

At almost the same time, the workers were the target of additional, albeit not surprising, hits from the right.

Fiscal compromise sets stage for new year of mini-cliffs

Fiscal compromise sets stage for new year of mini-cliffs

Tom Shoop

This article has been updated.

My, my, how far lawmakers’ ambitions for the fiscal cliff negotiations have fallen in the past two weeks.

Aiming to pull the country back from the fiscal cliff, the Senate early Tuesday easily approved a measure that would delay automatic budget cuts known as the “sequester” and raise taxes on household income above $450,000. The deal, worked out between the White House and Republican Senate Minority Leader Mitch McConnell, still needs approval by the House. Continue reading “Fiscal compromise sets stage for new year of mini-cliffs”

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