The healthcare legislation written by Senator Max Baucus (D-Mont.) may help reduce the deficit by up to $81 billion over the next ten years, according to calculations by the nonpartisan Congressional Budget Office. The bill is still being debated by the Senate Finance Committee, but the CBO report is likely to work in its favor. [...]

The Obama administration is facing heat from lawmakers about American International Group’s decision to hand out $165 million in executive bonuses. As recent as February 2009, President Obama claimed that he would put an end to the “culture of narrow self-interest” on Wall Street. According to the government, bailed out firms would be restricted [...]

US President Barack Obama announced a $500,000 (£355,000) limit on executive pay for US firms that are in need of federal aid. The move comes as a consequence of the public anger directed at the lavish pay and bonuses for the top executives of Wall Street financial firms. Mr. Obama said that it was “shameful” [...]

Hillary Rodham Clinton was sworn in as the 67th U.S. Secretary of State on February 2, 2009, at the State Department. Vice President, Joseph Biden administered the oath to Clinton. She will be the first “First Lady” to serve in a president’s cabinet. Clinton said that it was an overwhelming honor to assume the position. Though, [...]

The 20th of January of 2009 will be remembered by millions, not just in the United States, but around the world, as Barack Hussein Obama was sworn in as the 44th president of the United States of America. By becoming the first African American to hold America’s highest elected office, he has definitely created history. Braving [...]

President-elect Barack Obama and other congressional Democrats are planning a tax waiver of nearly $300 billion for individuals and businesses. This 40% tax cut is mainly aimed at drumming up Republican support for the smooth passage of his economic-stimulus package. The Obama team believes that this strategy would earn the approval of Republicans who want [...]