Gov't Downsizes Amid GOP Demands For More Cuts
Republicans oppose any new taxes, even if for closing loopholes rather than increasing rates.
The president has been making campaign-like trips to highlight the damage the pending sequester cuts would be to various sectors of the economy. On Tuesday he'll go to a shipbuilding company in Newport News, Va., the White House announced.
"In just seven days, a series of automatic cuts could go into effect that would severely affect companies, like this one, that depend on the defense industry and its workers," White House spokesman Jan Carney said Friday.
The looming spending cuts were first scheduled to take effect on Jan. 1. But they were postponed to March 1 as part of year-end "fiscal cliff" negotiations that also raised tax rates on affluent Americans. Republicans insist that's enough tax increasing for now.___ Follow Tom Raum on Twitter: http://www.twitter.com/tomraum
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV