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Most of the cuts that led to the deal - about $85 billion - came from reduced spending on school construction (a $19 billion proposal was zeroed out), teacher funding and higher education. The negotiators also cut provisions that the Congressional Budget Office said diffused less than 10% of funds into the...
One reason servicers haven't more wholeheartedly adopted bolder tactics is lingering concern over getting sued by investors who are ultimately entitled to the loan payments through mortgage-related securities. Servicers are contractually bound to act in the interest of investors overall, but they might still not rewrite loans, even...
5 | Addis Ababa United States of Africa? Libyan leader Muammar Gaddafi, the former international pariah who has mended relations with the West in recent years, was elected chairman of the African Union on Feb. 2. Gaddafi quickly vowed to pursue his dream of reorganizing the 53-member body into a...
The proposal, presented by Romance Languages and Literatures Professor Virginie Greene, would also give students an extra year to fulfill the language requirement, as well as the option to petition for coursework at other institutions—both in the United States and abroad—to count towards its...
Most of the recent spending debate has focused on waste - money for new weather satellites, antismoking programs and the like. But the austerity scolds haven't found many outrages; antismoking programs, for example, are a terrific way to hold down the long-term health costs that threaten the Treasury's...