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White House Rebuffs Republican Invitation on Debt Talks

Posted June 30th, 2011 at 1:45 pm (UTC-5)
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The White House has indicated that President Barack Obama will not accept an invitation to meet Thursday with Senate Republicans on the deficit and debt. Presidential spokesman Jay Carney says the White House already knows what the Republican position is on the issue. The top Senate Republican, Mitch McConnell, invited the president to Capitol Hill […]

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Republican Invites Obama to Capitol for Debt Talks

Posted June 30th, 2011 at 12:00 pm (UTC-5)
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The top Senate Republican has invited the president to Capitol Hill to discuss stalled efforts on cutting the government deficit and raising the U.S. debt ceiling to prevent a default on the nation’s loans. Mitch McConnell said Thursday that President Barack Obama should hear directly from Republican lawmakers about why the president’s call to eliminate […]

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US Senate to Cut Recess Short for Budget Talks

Posted June 30th, 2011 at 10:45 am (UTC-5)
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U.S. Senate Majority Leader Harry Reid says the Senate is canceling a holiday recess next week, as lawmakers consider whether to raise the U.S. debt ceiling or face possible default on the nation’s loans. Reid said Thursday lawmakers will take a holiday July 4 for Independence Day, and return to work Tuesday, rather than taking […]

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Obama to Discuss Debt Ceiling with Democratic Leaders

Posted June 29th, 2011 at 1:05 am (UTC-5)
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U.S. President Barack Obama is set to meet with top Democratic Senate leaders on Wednesday to discuss stalled negotiations on how to raise the nation’s borrowing limit and avoid a potentially catastrophic debt default. President Obama will meet with Senate Majority Leader Harry Reid and other Democratic Senators following a news conference where the president […]

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Chinese Local Governments Pile Up Trillions of Dollars of Debt

Posted June 28th, 2011 at 7:00 am (UTC-5)
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China says its local governments have accumulated about $1.7 trillion of debt due to self-created financing vehicles and massive bank loans. The central government’s chief auditor, Liu Jiaya, revealed the scope of the local government debt Monday during a speech to the National People’s Congress in Beijing. Liu says the amount of money owed by […]

Obama Takes Charge of Debt Talks

Posted June 27th, 2011 at 7:35 pm (UTC-5)
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U.S. President Barack Obama has become directly involved in the stalled negotiations over the national debt and federal borrowing limit, meeting with the top Senate Democratic and Republican leaders to discuss the issues. President Obama held talks Monday with Democratic Senate Majority Leader Harry Reid. Afterwards, White House spokesman Jay Carney said the president left […]

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Obama to Meet With Senate Leaders Over Debt Ceiling

Posted June 26th, 2011 at 3:55 pm (UTC-5)
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President Barack Obama is set to meet with the Democratic and Republican leaders of the U.S. Senate, after negotiations stalled between the two sides on the U.S. national debt and raising the federal government’s borrowing limit. Mr. Obama will meet separately at the White House Monday with Minority Leader Mitch McConnell, the top Senate Republican, […]

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US Officials Continue Talks on Deficit

Posted June 15th, 2011 at 9:05 am (UTC-5)
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U.S. Vice President Joe Biden is holding his eighth session Wednesday with a bipartisan committee of lawmakers to work on a plan for reducing the nation’s budget deficit. Biden and the members of Congress are trying to negotiate how much and what spending could be cut to accompany a needed increase to the country’s debt […]

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Bernanke Warns Against US Debt Default

Posted June 14th, 2011 at 7:00 pm (UTC-5)
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The head of the U.S. central bank says politicians must not allow the government to default on its loans, saying even a short-term break in payments could cause “severe disruptions” in financial markets. Federal Reserve Chairman Benjamin Bernanke said in a speech Tuesday the “debt ceiling” should not be used as a bargaining chip to […]

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Bernanke Warns Against US Debt Default

Posted June 14th, 2011 at 6:20 pm (UTC-5)
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The head of the U.S. central bank says politicians must not allow the government to default on its loans, saying even a short-term break in payments could cause “severe disruptions” in financial markets. Federal Reserve Chairman Benjamin Bernanke said in a speech Tuesday the “debt ceiling” should not be used as a bargaining chip to […]

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