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The Federal Reserve will keep buying bonds indefinitely to try to keep long-term borrowing costs low. It's just not clear how long indefinitely will be.
Onward to the next fiscal crisis. Actually, several of them, potentially. The New Year's Day deal averting the "fiscal cliff" lays the groundwork for more combustible struggles in Washington over taxes, spending and debt in the next few months.
President Barack Obama has signed a bill that boosts taxes on the wealthiest Americans, while preserving tax cuts for most American households.
Brian Friel of Bloomberg Government told The Federal Drive with Tom Temin and Emily Kopp Congress' latest piece of legislation both delays sequestration and reduces its potential effect.
Brian Friel of Bloomberg Government and Sterling Beard of The Hill newspaper talk about the new bill to delay sequestration and extend tax cuts. Alicia Cackley of the the Government Accountability Office discusses a new report on the Consumer Product Safety Commission. Cary Russell of the GAO outlines the logistical challenges of withdrawing from Afghanistan.
Rep. Michael Fitzpatrick introduced a bill to extend the pay freeze for federal workers for all of fiscal 2013. The Senate still must pass the bill.
William R. Dougan, national president of the National Federation of Federal Employees, said Tuesday the Senate's fiscal cliff bill will lead to a political standoff that will leave federal employees with an uncertain future.
Highlights of a bill approved Tuesday by the Senate aimed at averting wide tax increases and budget cuts scheduled to take effect in the new year.
House lawmakers voted Monday 373-29 in favor of a Senate-passed bill to slightly boost the president's $72 billion budget request for intelligence agencies, which is still less than last year's $80 billion budget.
The House will miss the midnight Monday deadline lawmakers set for voting to avoid the "fiscal cliff." House Republicans notified lawmakers that the chamber will vote Monday evening on other bills. They say that will be their only votes of the day.
OPM published a guide providing agency human-resources officials with more information about "administrative furloughs," which are different from those stemming from government shutdowns because agencies typically have more time to plan their spending reductions. The Obama administration has reassured reassured federal agencies that sequestration won't have an immediate impact on the federal workforce or day-to-day government operations.
The House will be back in session Sunday evening as the "fiscal cliff" looms, threatening across-the-board tax increases and spending cuts with the new year.
With a yearend deadline looming before the economy goes over the so-called fiscal cliff, President Barack Obama is cutting short his traditional Christmas holiday in Hawaii, planning to leave for Washington on Wednesday evening.
When it comes to resolving their "fiscal cliff" impasse, the dollar gap between President Barack Obama and House Speaker John Boehner is tiny in federal terms. That masks a monumental political ravine the two men must try to bridge, with most of the burden on the now-beleaguered Boehner.
The House approved a bill Thursday requiring federal employees to contribute more toward their retirement as part of a broader deal to avert the the so-called fiscal cliff. The 2012 Spending Reduction Act is nearly identical to a measure passed by the House last spring.
Defense Secretary Leon Panetta is assuring Pentagon workers they will not face layoffs immediately if the government cannot avert the year-end federal tax increases and spending cuts known as the "fiscal cliff."
The Obama administration offered agencies new guidance on sequestration, telling agency leaders and federal-employee unions that sequestration won't have an immediate impact on the federal workforce or government operations even if the automatic budget cuts go into effect Jan. 2.
The White House typically gives agencies both funding and policy updates for the upcoming budget request by Thanksgiving. This year OMB decided to hold off on passback guidance because of the current fiscal negotiations with Congress. Several senior agency officials said this lag will compress the timeline to respond to the information and require them to prepare for something that may never happen.
In the latest proposals traded back and forth between the White House and Boehner, the President proposed changing the formula the Labor Department uses to measure inflation — which would reduce annual COLAs for Social Security beneficiaries, including federal and military retirees. Federal-employee unions and groups remain worried the COLA proposals are still very much on the table.
Federal News Radio hosted an online chat with Charlie Armstrong, assistant commissioner and chief information officer at Customs and Border Protection. If you missed it live, view an archived version of the chat here.