Testifying on Capitol Hill Wednesday, the FAA administrator said furloughs of air-traffic controllers — and hence flight delays — are unavoidable under the ‘sequester.’ House Republicans challenged his assessment.
Jacob Lew is valued by Obama as a Beltway numbers guy able to endure high-stakes budget fights. But some critics worry he won’t tackle fast-rising debt. And the Treasury job could demand big duties beyond fiscal strategizing.
Prices could surge in January, but probably not double, if inaction by Congress results in the revival of a 1949 price system. And it probably won’t come to that, as lawmakers work to avert dairy-case price shock.
Negotiations over avoiding the ‘fiscal cliff’ have put Social Security back in the news. While the program isn’t a money loser for the federal government, its trustees favor acting soon to keep it healthy.
Tax revenues are seen as one source to help cut the deficit. In a new Monitor/TIPP poll, Americans were asked which tax deduction they would be most ready to part with. The charitable deduction led the list.