The U.S. House of Representatives has approved a compromise deal to raise the country’s debt limit and cutting 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 […]
US Debt Deal Faces Critical Congressional Vote
Posted August 1st, 2011 at 6:05 pm (UTC-5)
The U.S. Congress is set to take critical votes on a package of increases to the government borrowing limit and cuts to spending. The package is a compromise between Democrats, Republicans and the White House, and comes after months of political bickering and stalemate that pushed Washington to the edge of default on its massive […]
US Debt Deal Faces Critical Congressional Vote
Posted August 1st, 2011 at 3:05 pm (UTC-5)
The U.S. Congress is set to take critical votes later Monday on a package of increases to the government borrowing limit and cuts to spending, after months of political bickering that pushed Washington to the edge of default on its massive debt. In the Senate, Democratic Majority Leader Harry Reid and Republican Minority Leader Mitch […]
Debt Deal Includes Compromise, Concessions
Posted August 1st, 2011 at 1:00 pm (UTC-5)
The deal to end the U.S. debt-ceiling standoff contains some important compromises. It allows the debt ceiling to rise by up to $2.4 trillion — enough to keep the country borrowing money until 2013. It includes spending cuts that could reach $2.5 trillion, to exceed the amount of the debt ceiling increase. It initally cuts […]
World Markets Rise on News of US Debt Deal
Posted August 1st, 2011 at 12:20 pm (UTC-5)
Global financial markets Monday welcomed the deal in Washington to avoid a debt default by the government of the world’s largest economy. Most U.S., Asian and European stock markets moved higher after U.S. President Barack Obama and congressional leaders made an agreement to increase the legal limit on borrowing and cut government spending. At one […]
US Debt Deal Faces Critical Congressional Vote
Posted August 1st, 2011 at 11:30 am (UTC-5)
The U.S. Congress is set to take critical votes later Monday on a package of increases to the government borrowing limit and cuts to spending, after months of political bickering that pushed Washington to the edge of default on its massive debt. The Senate, controlled by President Obama’s political allies in the Democratic Party, is […]
US Debt Deal Faces Critical Congressional Vote
Posted August 1st, 2011 at 11:10 am (UTC-5)
The U.S. Congress is set to take critical votes later Monday on a package of increases to the government borrowing limit and cuts to spending, after months of political bickering that pushed Washington to the edge of default on its massive debt. The Senate, controlled by President Obama’s political allies in the Democratic Party, is […]
World Markets Rise on News of US Debt Deal
Posted August 1st, 2011 at 10:05 am (UTC-5)
Global financial markets welcomed the deal in Washington to avoid a debt default by the government of the world’s largest economy. U.S. and Asian stock markets moved higher and most European markets posted gains Monday after U.S. President Barack Obama and congressional leaders made a deal to increase the legal limit on borrowing and cut […]
White House, Congress Reach US Debt Ceiling Deal
Posted August 1st, 2011 at 9:25 am (UTC-5)
U.S. President Barack Obama has reached an agreement with congressional leaders on a compromise deal to raise the nation’s limit on borrowing and keep the government from an unprecedented default. Mr. Obama said Sunday night that the proposed deal cuts about $1 trillion in spending over 10 years and sets up a bipartisan panel in […]
World Markets Rise on News of US Debt Deal
Posted August 1st, 2011 at 5:10 am (UTC-5)
European markets opened higher and Asian stocks surged Monday on news that U.S. President Barack Obama and congressional leaders had reached a deal to avert a debt default. London’s Financial Times 100 index, the CAC-40 in Paris, and the DAX in Frankfurt all opened around one percent higher. Tokyo’s Nikkei Index closed up one-and-one-third percent, […]
