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Obama Chief of Staff: US Will Not Default

Posted July 26th, 2011 at 6:10 pm (UTC-5)
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White House Chief of Staff William Daley says he is confident the United States will not default on its debt. Daley told CNBC television Tuesday that there are a lot of debt reduction plans on the table and everyone is stressed as the August 2 deadline for default gets closer. But he said that, in […]

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US Standoff on Borrowing Limit Remains Unresolved

Posted July 26th, 2011 at 3:25 pm (UTC-5)
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U.S. President Barack Obama and opposition Republican lawmakers remain deadlocked about plans to raise the nation’s debt limit as a possible default looms in one week. The White House said Tuesday the president is “doing whatever he could” to reach a compromise on increasing the country’s $14.3 trillion borrowing limit ahead of the August 2 […]

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US Standoff on Borrowing Limit Remains Unresolved

Posted July 26th, 2011 at 2:55 pm (UTC-5)
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U.S. President Barack Obama and opposition Republican lawmakers remained deadlocked Tuesday on plans to raise the nation’s debt limit as a possible default looms a week away. The White House said Tuesday the president is “doing whatever he could” to reach a compromise on increasing the country’s $14.3 trillion borrowing limit ahead of the August […]

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US Standoff on Borrowing Limit Remains Unresolved

Posted July 26th, 2011 at 2:05 pm (UTC-5)
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U.S. President Barack Obama and opposition Republican lawmakers remained deadlocked Tuesday on plans to raise the nation’s debt limit as a possible default looms a week away. The White House said Tuesday the president is “doing whatever he could” to reach a compromise on increasing the country’s $14.3 trillion borrowing limit ahead of the August […]

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Obama: Failure to Raise US Debt Ceiling Will Cause Incalculable Damage

Posted July 26th, 2011 at 5:40 am (UTC-5)
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U.S. lawmakers on Tuesday will discuss a pair of competing plans to raise the nation’s debt limit, with the deadline to avoid a possible first-ever debt default now just one week away. President Barack Obama said Monday night in a televised address that Congress risks sparking a “deep economic crisis” if lawmakers fail to reach […]

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Obama: Failure to Raise US Debt Ceiling Will Cause Incalculable Damage

Posted July 25th, 2011 at 9:55 pm (UTC-5)
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President Barack Obama says failing to raise the debt ceiling will cause incalculable damage to the U.S. economy. Mr. Obama spoke to the nation Monday night, hours after Republican and Democratic leaders in Congress unveiled rival plans to cut government spending and raise the debt ceiling to avoid default. Weeks of failed negotiations between the […]

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Boehner: Solution to Crisis Not Complicated

Posted July 25th, 2011 at 9:45 pm (UTC-5)
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Republican Speaker of the House John Boehner responded to Mr. Obama’s speech by acknowledging that the United States must not default on its obligations. But he said the American people will not accept an increase in the U.S. borrowing limit without significant spending cuts and reform. Boehner gave no indication of compromise. Instead, he said […]

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Boehner: Solution to Crisis Not Complicated

Posted July 25th, 2011 at 9:30 pm (UTC-5)
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Republican Speaker of the House John Boehner responded to Mr. Obama’s speech by acknowledging that the United States must not default on its obligations. But he said the American people will not accept an increase in the U.S. borrowing limit without a significant cut in entitlement programs. He said the solution to the debt crisis […]

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Obama: Dire Consequences if US Defaults

Posted July 25th, 2011 at 9:20 pm (UTC-5)
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President Barack Obama has warned Americans that failure to reach a compromise with Congress on raising the nation’s debt ceiling will do incalculable damage to the United States. In a televised address to the nation Monday night, Mr. Obama said there will be dire consequences if the U.S. defaults on its debt. He said that […]

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Republicans, Democrats Unveil Rival Plans for Raising Debt Ceiling

Posted July 25th, 2011 at 4:50 pm (UTC-5)
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Republican and Democratic leaders in the U.S. Congress have unveiled rival plans to cut government spending and raise the debt ceiling, just one week before the United States could default on its debt for the first time in history. Speaker of the House John Boehner announced a Republican plan to immediately increase the debt ceiling […]

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