spending cuts

Update news spending cuts

Fed stays easy-money course

The Federal Reserve held its easy-money policies in place Wednesday in the face of a moderately growing economy facing headwinds from the government's severe "sequester" spending cuts.

US calls on UN to bar drunken diplomats

 The United States called for drunk diplomats to be barred from United Nations' budget negotiations.

No fiscal deal without tax hikes for U.S. wealthy: Geithner

 There is "no possibility" for the United States to put its fiscal house in order without letting tax cuts for the rich expire, Treasury Secretary Timothy Geithner said Sunday.