U.S. lawmakers are preparing to vote on a bill to slash the country’s spending and raise the debt limit, although this version of the legislation has little chance of resolving a high-stakes political standoff. Tuesday’s vote in the Republican-led U.S. House of Representatives would cut more than $100 billion from the federal budget next year […]
Vote Nears as Possible US Default Creeps Closer
Posted July 19th, 2011 at 10:50 am (UTC-5)
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US House to Vote on Deficit Cutting Proposal Opposed by Obama
Posted July 19th, 2011 at 7:20 am (UTC-5)
The Republican-led U.S. House of Representatives votes Tuesday on legislation that would cut billions of dollars from the federal budget in exchange for raising the country’s borrowing limit and avoiding a first-ever default. The so-called Cut, Cap and Balance Act, supported by the Republican Party’s Tea Party faction and other fiscally conservative groups, would also […]
White House to Veto Spending Cuts, Balanced Budget Amendment
Posted July 18th, 2011 at 7:55 pm (UTC-5)
The Republican-led U.S. House of Representatives votes Tuesday on a budget bill that the White House says President Obama will veto. The so-called Cut, Cap and Balance Act would require billions of dollars in immediate spending cuts, trillions of dollars in future spending limits, and a constitutional amendment requiring a balanced budget — outlawing the […]
US Debt Talks Continue As Deadline Nears
Posted July 17th, 2011 at 2:15 pm (UTC-5)
Negotiators from the White House and the U.S. Congress continued their efforts Sunday to reach agreement on ways to keep the government from defaulting on its debt. Five straight days of talks involving U.S. President Barack Obama and Republican leaders in Congress that ended Thursday failed to break the current deadlock. Experts say Congress must […]
US Debt Talks Continue As Deadline Nears
Posted July 17th, 2011 at 2:00 pm (UTC-5)
Negotiators from the White House and the U.S. Congress continued their efforts Sunday to reach agreement on ways to keep the government from defaulting on its debt. Five straight days of talks involving U.S. President Barack Obama and Republican leaders in Congress that ended Thursday failed to break the current deadlock. Experts say Congress must […]
Obama Urges ‘Shared Compromise’ to Break Stalemate in Debt Talks
Posted July 16th, 2011 at 7:00 pm (UTC-5)
U.S. President Barack Obama on Saturday urged Congress to enter into what he called “shared compromise ” in an effort to solve the country’s debt and deficit problems. In his weekly address, Mr. Obama said he is willing to do whatever it takes to solve the problem, even if it is not politically popular. But […]
Obama Urges ‘Shared Compromise’ to Break Stalemate in Debt Talks
Posted July 16th, 2011 at 4:00 pm (UTC-5)
U.S. President Barack Obama has urged Congress to enter into what he called “shared compromise ” in an effort to solve the country’s debt and deficit problems. In his weekly address Saturday, Mr. Obama said he is willing to do whatever it takes to solve the problem, even if it is not politically popular. But […]
Obama, Republicans Still Wrangling Over US Debt
Posted July 15th, 2011 at 4:15 pm (UTC-5)
U.S. President Barack Obama and opposition Republicans called on each other to offer “serious” plans to solve the nation’s financial problems on Friday. In a televised news conference, Mr. Obama said again he is willing to consider cuts in popular social programs including pensions and health care for the elderly, and aid to veterans. In […]
Another Round of Talks Set On Greek Bailout
Posted July 15th, 2011 at 2:15 pm (UTC-5)
Leaders of the 17 nations that use the euro are making another effort to work out an aid package for the Greek economy. Greece has already gotten about $160 billion in emergency loans, and needs another dose of aid of about the same size. Eurozone officials have been called to Brussels next Thursday, where they […]
Obama, Republicans Still Wrangling Over US Debt
Posted July 15th, 2011 at 12:10 pm (UTC-5)
President Barack Obama and opposition Republicans called on each other to offer “serious” plans to solve the nation’s financial problems on Friday. In a televised news conference, Mr. Obama said again he is willing to consider cuts in popular social programs including pensions and health care for the elderly, and aid to veterans. In return, […]
