Federal Budget (US) – Page 21

Facing Threats, U.S. Navy Struggles to Modernize Its Ships

A new generation of cheaper and more flexible vessels could be vital in any conflict with China, but the Navy remains lashed to big shipbuilding programs driven by tradition, political influence and jobs.

By Eric Lipton

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I.R.S. Says Cash Influx Has Made Agency Bigger and More Digital

An $80 billion infusion has helped improve customer service, but the tax agency continues to face uncertainty over future funding.

By Alan Rappeport

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White House Hits Back on Fitch Credit Downgrade, Protecting Biden

The president’s team has mobilized to counter the downgrade of Treasury debt by the Fitch Ratings agency, rushing to defend the story of an improving economic outlook.

By Jim Tankersley

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U.S. Credit Rating Is Downgraded by Fitch

The ratings agency, which lowered the U.S. long-term rating from its top mark, said that debt-limit standoffs have eroded confidence in the nation’s fiscal management.

By Alan Rappeport