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Tag Archives: congressional budget office

Bernanke: Recession likely if Congress doesn’t act

WASHINGTON — Federal Reserve Chairman Ben Bernanke painted a dark picture of where the U.S. economy is headed if Congress fails to reach agreement soon to avert a budget crisis. “It would probably knock the recovery back into a recession ...

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Health care options for young, healthy and broke

WASHINGTON — They’re young, healthy and flat broke — and now the government says they have to buy thousands of dollars’ worth of medical insurance. What should tapped-out twentysomethings do? Well, some may just do nothing. The annual fine for ...

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Bernanke: Job market remains weak despite gains

WASHINGTON — Ben Bernanke says the job market isn’t as strong as the steadily declining unemployment rate might suggest. Responding to questions at a Senate hearing Tuesday, he noted that the unemployment rate doesn’t capture the plight of millions of ...

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Many federal workers out-earn private sector labor

WASHINGTON — The average federal worker earns about 2 percent more than a private sector worker in a comparable profession, though the government’s generous pension system means that overall compensation is significantly higher, a government study released Monday said. Once ...

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Congressional panel set to fail to cut deficit $1.2 trillion

WASHINGTON — The imminent collapse of a special deficit-reduction supercommittee on Monday promises to set off yet another round of the Washington blame game as the panel officially admits failure in its quest to sop up at least $1.2 trillion ...

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Study: Rich get a lot richer, outpace middle class

WASHINGTON — The richest 1 percent of Americans have been getting far richer over the last three decades while the middle class and poor have seen their after-tax household income only crawl up in comparison, according to a government study. ...

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GOP retools plan as Congress seeks debt fix

WASHINGTON — Six days away from a potentially calamitous government default, House Republicans appeared to be coalescing Wednesday around a work-in-progress plan by House Speaker John Boehner to increase the U.S. borrowing limit and chop $1 trillion in federal spending. ...

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