President Barack Obama’s $3.9 trillion budget proposal would benefit low-income families, college students, researchers and highway users, setting the tone for Democratic priorities in an election year.
President Barack Obama traveled to the Navy’s sole builder of aircraft carriers to drive home his argument that his political foes and their constituents will be among the hardest hit by across-the-board spending cuts that start March 1.
Tribune Co.’s proposed spinoff of its newspapers will probably happen by midyear, allowing time to vet candidates to run a business that includes the Los Angeles Times and Chicago Tribune, people with knowledge of the matter said.
For Matthew Mulherin, who manages Navy aircraft carrier construction for Huntington Ingalls Industries Inc., automatic defense spending cuts set to take effect in January are an “end-of-earth scenario.”
In Newport News, Virginia, Betty Hazelwood said she’s on “pins and needles” about whether her job as a submarine pipefitter will be eliminated by U.S. spending cuts. In Northern Virginia, Kate McLaughlin canceled a vacation to Costa Rica because of concern her federal contracting will end. At a suburban Washington car dealership, Infiniti of Tyson’s Corner, customers aren’t buying.