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U.S. threatened with credit rating hit if debt crisis continues

U.S. threatened with credit rating hit if debt crisis continues

Facing a dire warning from a credit rating agency, the Obama administration lobbied some of Congress’ most conservative members Thursday for an increase in the nation’s debt limit. Republicans responded that the surest way to reassure financial markets was to enact deep deficit cuts. At the White House, President Barack Obama told Democrats he expected […]

Weak economy stalls economy

Weak economy stalls economy

U.S. employment probably lost steam in May as high energy prices and the effects of Japan’s earthquake bogged down the economy. Nonfarm payrolls likely increased 150,000 last month, according to a Reuters survey of economists, after advancing by an 11-month-high of 244,000 jobs in April. The job creation slowdown would confirm the economic weakness already […]

Boehner wants debt deal within a month

Boehner wants debt deal within a month

Washington needs to wrap up a deal to increase borrowing authority within a month to avoid rattling financial markets, House of Representatives Speaker John Boehner said on Wednesday. Boehner told reporters he is “ready to proceed” in talks with President Barack Obama and called on him to get more involved. But the top Republican reiterated […]

Republicans to meet with Obama on debt increase

Republicans to meet with Obama on debt increase

  Scores of House Republicans are heading to the White House for a meeting with President Barack Obama to demand trillions of dollars in spending cuts as the price for providing any increase in the government’s power to borrow. Wednesday’s meeting comes on the heels of a symbolic and lopsided vote the day before against […]

You aren’t what you eat: GOP challenges healthy eating rules

You aren’t what you eat: GOP challenges healthy eating rules

House Republicans are pushing back against Obama administration efforts to promote healthier lunches, saying the Agriculture Department should rewrite rules it issued in January meant to make school meals healthier. They say the new rules are too costly. The bill, approved by the House Appropriations Committee late Tuesday, also questions a government proposal to curb […]