U.S. President Barack Obama says it is increasingly urgent that Democrats and Republicans in Congress reach agreement on a measure to increase the legal limit on government borrowing and cut spending. Mr. Obama says the two sides are in rough agreement on how much spending to cut, and on a process to reform taxes and […]
US Driving Fuel Efficiency Standards Higher
Posted July 29th, 2011 at 11:25 am (UTC-5)
Cars and trucks sold in the United States will be required to use half as much fuel as they do now under a new agreement being rolled out by the White House. President Barack Obama and leaders of the world’s largest automakers announced new, higher fuel efficiency standards Friday. The agreement calls for the average […]
Obama Urges Action On Debt Issue
Posted July 29th, 2011 at 11:00 am (UTC-5)
U.S. President Barack Obama says it is increasingly urgent that Democrats and Republicans in Congress reach agreement on a measure to increase the legal limit on government borrowing and cut spending. Mr. Obama says the two sides are in rough agreement on how much spending to cut, and on a process to reform taxes and […]
Obama: Common Sense Will Prevail
Posted July 29th, 2011 at 10:55 am (UTC-5)
Mr. Obama said he remains confident he and lawmakers can come to an agreement to slash the country’s budget deficits while also raising the debt limit, saying “common sense and cooler heads will prevail.” He also called on lawmakers to show the type of leadership the American people deserve and expect.
Obama: Plenty of Ways Out of Debt Crisis
Posted July 29th, 2011 at 10:55 am (UTC-5)
Mr. Obama said there are “plenty of ways out of this mess,” and pledged to work toward a compromise that can pass both houses of Congress and that he can sign into law. But the president warned that “we are almost out of time,” to raise the country’s borrowing limit before Tuesday, when the Treasury […]
Obama Blasts Republican Plan for Debt ceiling
Posted July 29th, 2011 at 10:45 am (UTC-5)
U.S. President Barack Obama is criticizing Republican lawmakers for wasting time on a bill that he says will not solve the debt crisis, and calling for a bi-partisan agreement to lift the borrowing limit and cut spending. Mr. Obama said at the White House Friday that the plan Republican leaders are trying to push through […]
US Senate to Vote on Democrat Debt/Deficit Plan
Posted July 29th, 2011 at 9:55 am (UTC-5)
Senate Democratic Leader Harry Reid says he will call for a vote Friday on his plan to cut government spending by $2.4 trillion while raising the legal limit on borrowing enough to fund the government through the end of 2012. President Obama is scheduled to make remarks on the issue within the hour. U.S. stock […]
US Economic Growth Slower Than First Thought
Posted July 29th, 2011 at 9:35 am (UTC-5)
The U.S. economy grew at a slower rate than economists had estimated in the first half of this year. Friday’s updated report from the Commerce Department says the gross domestic product expanded at just a 1.3 percent annual rate. The GDP is the sum of all the goods and services produced in a nation and […]
US Republican Leaders Looking for New Debt Plan
Posted July 29th, 2011 at 9:05 am (UTC-5)
Republicans in the U.S. House of Representatives are meeting Friday to once again revise their plan to raise the U.S. borrowing limit and cut government spending, just four days before the government faces a possible default on its financial obligations. Republican leaders were forced to delay on a vote Thursday night on a plan crafted […]
US Congressional Vote on Debt Issue Postponed
Posted July 29th, 2011 at 4:55 am (UTC-5)
Republican leaders in the U.S. House of Representatives will attempt to hold a vote Fridy on their plan to raise the U.S. borrowing limit and cut spending after they were forced to postpone the vote due to opposition in their party. The Republican-led House was scheduled to vote Thursday on a plan crafted by Speaker […]
