Familiar Battle Lines Ahead of Next Fiscal Fight
Both parties’ strategy rests largely on the other one folding in negotiations.
Fiscal Issues
Obama Divides Republicans With “Fiscal Cliff” Deal
Fewer than half of Republican congressmen vote to raise taxes to stave off the “fiscal cliff.”
Senate Averts “Fiscal Cliff,” Long-Term Budget Deal Elusive
Lawmakers avoid an immediate tax hike but achieve no long term fiscal consolidation.
Obama: Extend Tax Relief Now, Cut Spending Later
The president urges Congress to enact a tax deal before negotiating budget cuts.
Berlusconi Ally Says Austerity “Failed,” Italy Must Cut Taxes
Former conservative minister blames Mario Monti’s “German” policies for Italy’s recession.
Merkel Chastises Opposition for Blocking Tax Relief
“Incomprehensible” that the left should block tax cuts, says the German chancellor.
Britain to Miss Fiscal Targets, Credit Rating in Doubt
Britain’s top credit rating could be in peril as the country misses its debt and deficit targets.
Britain’s Osborne: No Turning Back on Fiscal Policy
The chancellor believes that reversing budget policy would be a “complete disaster.”
Geithner Predicts Taxes Will Go Up, Boehner “Flabbergasted”
The Republican leader calls the Obama Administration’s budget proposal “nonsense.”
Dutch, German Leaders Criticized for Greek Debt Deal
Opposition parties in the two countries have little faith in the latest agreement with Greece.
Western European Member States Block Budget Increase
Britain and other net contributors insist that spending should be reduced.
Japan’s Politics in Game of Brinkmanship Over Budget
Prime Minister Yoshihiko Noda is counting on the opposition to avoid a fiscal cliff.
Regulations, Tax Hikes Weaken American Economic Outlook
Businesses are reluctant to hire and invest in the face of more regulations and higher taxes.
What Austerity? France, Spain Don’t Cut But Tax
The two European countries are raising taxes without reducing government spending.
Hollande Plans €20 Billion Tax Increase to Balance Budget
The Socialist Party president announces higher corporate and income tax rates.