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US Debt Committee Remains Deadlocked

Posted November 20th, 2011 at 5:10 pm (UTC-5)
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Hope is slim the so-called “supercommittee” in the U.S. Congress will find a way to reduce the federal deficit by $1.2 trillion before the deadline this week Evenly divided between Republicans and Democrats, the 12 panel members must unveil a plan by Wednesday. But panelists said in interviews Sunday they cannot agree about whether and […]

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Lawmakers Urge Deficit Reduction Committee to ‘Go Big’

Posted November 16th, 2011 at 4:50 pm (UTC-5)
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A bipartisan group of U.S. lawmakers is urging the special committee tasked with finding ways to cut $1.2 trillion from the federal deficit to “go big” and aim for around $4 trillion in savings. The House and Senate legislators issued the call Wednesday as the “supercommittee” works to meet a November 23 deadline to come […]

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Republicans Soften No-Tax Pledge as Deadline on Deficit Deal Nears

Posted November 15th, 2011 at 8:15 pm (UTC-5)
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Republican leaders in the U.S. Congress say they are now willing to break a no-tax pledge as part of a comprehensive deal to reduce the massive federal deficit. The comments came Tuesday, as the bipartisan special committee of six Democrats and six Republicans tries to agree on a plan aimed at cutting $1.2 trillion from […]

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Cantor Confident of Deficit Deal

Posted November 14th, 2011 at 5:50 pm (UTC-5)
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A leading Republican in the U.S. House of Representatives says he is confident that the bipartisan congressional committee tasked with cutting the federal deficit by $1.2 trillion will be able to reach an agreement before a November 23 deadline. House Majority Leader Eric Cantor made the comment Monday, as the so-called “supercommittee” of six Democrats […]

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Obama Hopeful Deficit Panel Will Find Solution

Posted November 14th, 2011 at 2:55 am (UTC-5)
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U.S. President Barack Obama says he hopes the leaders of a congressional committee tasked with cutting the federal deficit by $1.2 trillion will do what is necessary in the coming days to agree on a plan. Mr. Obama said during a news conference Sunday that the cuts do not require radical changes, and that other […]

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Japan Posts Huge Trade Deficit in August, Despite Rise in Exports

Posted September 21st, 2011 at 2:26 am (UTC-5)
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Japan’s trade deficit swelled to more than $10 billion in August as the country continues to feel the effects of the March 11 earthquake and tsunami. The trade ministry said Wednesday that exports were 2.8 percent higher than in August last year. That was the first year-to-year increase since March, but well below the 8.0 […]

Obama Outlines Deficit Plan; Republicans Reject it

Posted September 20th, 2011 at 2:29 am (UTC-5)
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U.S. President Barack Obama announced his deficit reduction plan Monday, but congressional Republicans quickly rejected the proposal. In a White House speech, Mr. Obama called on all Americans, including the wealthy and corporations, to pay a “fair share” of the cost of government. He threatened to veto any proposal that cut medical care for the […]

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President Obama Offers Deficit Reduction Plan

Posted September 19th, 2011 at 12:32 pm (UTC-5)
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U.S. President Barack Obama is proposing higher taxes on the wealthy, cuts in some social programs and less military spending in a package intended to cut the huge U.S. debt by another $3 trillion over 10 years. In a White House speech Monday, Mr. Obama called on all Americans, including the wealthy and corporations, to […]

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Factbox: Obama’s Deficit Reduction Plan

Posted September 19th, 2011 at 11:55 am (UTC-5)
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President Barack Obama’s more than $3 trillion deficit and debt reduction plan includes: $1.5 trillion in additional revenue, from taxes on wealthy individuals and corporations Most new tax revenue would come from Americans making more than $250,000 per year More than $1 trillion savings from bringing troops home from Afghanistan and Iraq Cutting more than […]

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President Obama Offers Deficit Reduction Plan

Posted September 19th, 2011 at 11:42 am (UTC-5)
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U.S. President Barack Obama is proposing higher taxes on the wealthy, cuts in some social programs and less military spending in a package intended to eventually cut the huge U.S. debt by another $3 trillion. In a White House speech Monday, Mr. Obama called on all Americans, including the wealthy and corporations, to pay a […]

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