Mississippi Business Journal » federal budget

Ingalls could lose two cutters to federal budget cuts

Associated Press — Mon, 27 Feb 2012 14:09:13 +0000

PASCAGOULA — The U.S. Coast Guard will not get the last two of eight planned national security cutters, under President Barack Obama’s 2013 budget request. The two cutters were not included in the Coast Guard’s five-year capital investment plan, The Mississippi Press reported. The capital investment plan outlines acquisition priorities under the limits set by [...]

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Delta Council joins letter to President about deficit reductions

For the MBJ — Wed, 15 Jun 2011 19:08:23 +0000

STONEVILLE — Delta Council was a co-signer, along with other national and regional commodity organizations, on a letter to President Obama, Majority Leader Reid, and Speaker of the House Boehner expressing strong opposition to any deficit reduction package that would disproportionately impact American agriculture and rural communities. “We are deeply concerned about any requirements that [...]

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Cochran: Healthcare reform pressuring budget

Wally Northway — Wed, 12 May 2010 13:05:00 +0000

Sen. Thad Cochran (R-Miss.), vice chairman of the Senate Appropriations Committee and ranking member on the Labor, Health and Human Services and Education Appropriations Subcommittee, is predicting that unfunded costs for implementing and paying for the nation’s new healthcare reform law will put new pressure on the federal budget—and Congress. In a letter to Cochran, [...]

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Federal deficit plummeted in March

Associated Press — Tue, 13 Apr 2010 11:38:03 +0000

WASHINGTON — The budget deficit for March showed a dramatic decline as the Obama administration formally entered a lower ultimate cost for the government’s $700-billion financial bailout program. The Treasury Department said the deficit for March totaled $65.4 billion, compared to a $191.6-billion imbalance a year ago. However, $115 billion of that improvement occurred because [...]

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Obama creates deficit commission

Associated Press — Fri, 19 Feb 2010 16:29:19 +0000

WASHINGTON — President Barack Obama signed an order yesterday unilaterally creating a bipartisan commission to rein in unruly deficits after Congress rejected a similar body with considerably more enforcement power. In making the announcement, Obama said that unless lawmakers put aside partisan differences, the continuing red-ink trend could “hobble our economy.” The federal deficit hit [...]

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Report: State facing $6B shortfall

Associated Press — Thu, 11 Feb 2010 12:09:28 +0000

JACKSON — A national transportation advocacy group says Mississippi will face a $6-billion highway funding shortfall in the next decade if Congress fails to adopt a new transportation plan. TRIP, a national transportation research group, and lawmakers released the report yesterday at a news conference in Jackson. The study says one-fifth of Mississippi’s major roads [...]

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Obama calls out Republicans on healthcare reform

Associated Press — Mon, 08 Feb 2010 16:00:45 +0000

WASHINGTON — President Barack Obama says it’s time for Republicans who have attacked his healthcare proposals from the sidelines to step before the cameras and present their own ideas. In the first major move to revive his healthcare agenda after his party’s loss of a filibuster-proof Senate majority, Obama on Sunday invited GOP and Democratic [...]

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House raises U.S. debt cap

Associated Press — Fri, 05 Feb 2010 11:57:33 +0000

WASHINGTON — The House on Thursday voted to allow the government to go $1.9 trillion deeper in debt — or about $6,000 more for every U.S. resident. The measure, approved 217-212, would raise the cap on federal borrowing to $14.3 trillion. That’s enough to keep Congress from having to vote again before the November elections [...]

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President sends $3.83T budget to Congress

Associated Press — Mon, 01 Feb 2010 13:29:58 +0000

WASHINGTON — President Barack Obama sent Congress a $3.83-trillion budget today that would pour more money into the fight against high unemployment, boost taxes on the wealthy and freeze spending for a wide swath of government programs. The deficit for this year would surge to a record-breaking $1.56 trillion, topping last year’s then unprecedented $1.41 [...]

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Federal deficit predicted to be $1.35T

Associated Press — Tue, 26 Jan 2010 15:41:17 +0000

WASHINGTON — The latest congressional budget estimates due today predict a $1.35-trillion U.S. deficit for this year, a top legislative aide says. The Congressional Budget Office figures confirm the massive problem facing President Barack Obama and his Democratic allies just days before his Feb. 1 budget submission. The White House says Obama will propose a [...]

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