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Obama Signs Debt Bill; US Avoids Default

Posted August 2nd, 2011 at 8:10 pm (UTC-5)
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The United States can now meet its financial obligations without the threat of default after President Barack Obama signed a compromise debt ceiling bill Tuesday. But the battle in Congress on just how much and where to cut government spending as part of that compromise could soon flare up again. The deal that the House […]

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Obama Signs Debt Bill; US Avoids Default

Posted August 2nd, 2011 at 2:40 pm (UTC-5)
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U.S. President Barack Obama has signed a compromise law that will cut spending and raise the nation’s borrowing limit, to avoid a possible unprecedented U.S. government default. Mr. Obama signed the measure Tuesday, just after the the U.S. Senate voted 74 to 26 in favor of the bill and 10 hours before the government said […]

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US Senate Passes Debt Bill, Averts Crisis

Posted August 2nd, 2011 at 1:35 pm (UTC-5)
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The U.S. Senate voted Tuesday to settle the political battle over the country’s growing debt, passing a bill that will cut spending and raise the nation’s borrowing limit. Senators voted 74 to 26 in favor of the compromise measure, sending it to President Barack Obama less than 12 hours before the government ran out of […]

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US Senate Passes Debt Bill

Posted August 2nd, 2011 at 12:35 pm (UTC-5)
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The U.S. Senate voted Tuesday to settle the political battle over the country’s growing debt, passing a bill that will cut spending and raise the nation’s borrowing limit. Senators approved the compromise measure, worked out by Republican leaders and President Barack Obama, less than 12 hours before the government ran out of money. President Barack […]

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Economists: US Must Do More To Cut Deficit & Debt

Posted August 2nd, 2011 at 10:55 am (UTC-5)
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Economists say the new agreement to cut some U.S. spending and allow the government to borrow more money is just the first of many steps needed to solve the debt and deficit issue. The agreement cuts around $1 trillion in spending over the next ten years and mandates a complex process intended to bring another […]

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US Debt Battle Down to Final Vote

Posted August 2nd, 2011 at 9:50 am (UTC-5)
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The U.S. Senate is to vote Tuesday on a bill to cut spending and raise the nation’s debt limit, just 12 hours before the Treasury Department says it would run out of money without more borrowing. The compromise legislation passed its biggest test late Monday when the Republican-led House of Representatives approved it by a […]

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China Dismisses US Debt Deal as Short-Term Fix

Posted August 2nd, 2011 at 4:05 am (UTC-5)
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China’s state-controlled media say a last-minute deal to raise the U.S. debt ceiling has merely postponed deeper problems that threaten the world economy. In a commentary Tuesday, the People’s Daily newspaper said that while the threat of default has been avoided, America’s debt problems are unresolved and likely to grow more serious. The newspaper is […]

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Senate to Vote on US Debt Ceiling Bill Tuesday

Posted August 2nd, 2011 at 3:55 am (UTC-5)
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The U.S. Senate will vote Tuesday on a compromise bill to cut government spending and raise the nation’s borrowing limit, bringing a likely end to weeks of fear over a potential American debt default. The Senate is expected to vote on the deal at noon local time, just 12 hours before the government says it […]

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House Passes US Debt Deal

Posted August 1st, 2011 at 10:20 pm (UTC-5)
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The U.S. House of Representatives has approved a compromise deal to raise the country’s debt limit and cut spending, one day before the government is due to start defaulting on its debt. In a vote Monday night, 269 House members approved the deal and 161 opposed it. The bill allows the United States to keep […]

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Giffords Returns to Vote on Debt Ceiling

Posted August 1st, 2011 at 7:35 pm (UTC-5)
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There was some unexpected drama during the House of Representatives’ vote on the debt agreement Monday. Arizona Democratic Congresswoman Gabrielle Giffords made her first appearance in the chamber since she was gravely wounded by a would-be assassin in January. House colleagues rose to their feet and applauded as Giffords made her way across the floor, […]

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