U.S. Defense Secretary Chuck Hagel got a taste of the budget fights he will face this year as senators protested his proposals to cut the Army’s size, reduce benefits for troops and retire the A-10 attack plane.
“If I can persuade Al Sharpton and Bill O’Reilly to come to the same meeting, there are plenty of people of good faith to get something done,” President Barack Obama said in the White House’s East Room yesterday.
At a museum near the U.S. Capitol three weeks ago, 700 guests sampled bratwurst and vodka and watched the Olympics on a mammoth screen. From the second floor, Comcast Corp.’s David Cohen addressed the crowd, which included the Russian ambassador and a White House official.
Senate Majority Leader Harry Reid won’t consider raising the U.S. minimum wage to any level less than $10.10 an hour, though some of his fellow Democrats say they are ready to negotiate a lower amount.
Chances that Congress will move this year to wind down or transform Fannie Mae and Freddie Mac are dimming as lawmakers confront a split among Senate Democrats and a change at the regulator of the mortgage finance companies.
Freddie Mac may boost how much it pays bond investors to share the risk of homeowner defaults as the government-controlled mortgage-finance company plans its biggest offering of such debt, according to a person with knowledge of the deal.
Recent cyberattacks on payment systems at Target Corp. and other U.S. retailers show that U.S. laws designed to protect consumer data need updating, lawmakers said at the first of three congressional hearings on the matter.
Senator Mark Warner said his bipartisan group of six senators working to strike a deal to cut the national debt is considering a plan to slash $3 in federal spending for every $1 of tax revenue it raises.
U.S. Senator Mark Warner placed the odds for a bipartisan debt-reduction deal at better than 50-50, and outlined plans to roll out fresh ideas in the coming weeks on where to find the revenue to finance it.