Possible vote on raising U.S. debt in coming week

A temporary extension of the $17 trillion U.S. debt ceiling expires at midnight on Friday,

Possible vote on raising U.S. debt in coming week

Republicans who control the U.S. House of Representatives have penciled in a possible vote next week on legislation to raise the debt limit, a sign that they are moving closer to deciding whether to try to attach conditions to any increase. House Majority Leader Eric Cantor on Friday left a spot open in his weekly […]

As budget numbers improve, zeal for more cuts wane

The Congressional Budget Office is expected to revise downward its deficit forecasts over the next 10 years.

As budget numbers improve, zeal for more cuts wane

New U.S. budget deficit estimates due on Tuesday will likely show a rapidly improving fiscal picture over the next few years, contributing to a waning appetite in Washington for further budget cutting. The Congressional Budget Office is expected to revise downward its deficit forecasts over the next 10 years. Many analysts believe that major deficit […]

Boehner has guarded praise for change in Obama’s direction

Boehner has guarded praise for change in Obama’s direction

House Speaker John Boehner says that President Barack Obama’s recent outreach to congressional Republicans is a “hopeful sign” that progress could be made in breaking the recent impasse over how to reduce the federal deficit. Boehner says at a news conference that it was interesting that after months of “campaign-style events” around the country to […]

House GOP wants vote to extend debt limit until May 19

House GOP wants vote to extend debt limit until May 19

Republican leaders in the House of Representatives have scheduled a vote on Wednesday on a nearly four-month extension of U.S. borrowing capacity, but the bill does not specify a dollar amount. Legislative language released by the House Rules Committee on Monday said the bill aims “to ensure complete and timely payment of the obligations of […]

Obama refusing to negoiate on debt ceiling

Obama refusing to negoiate on debt ceiling

President Barack Obama on Monday rejected any negotiations with Republicans over raising the U.S. borrowing limit, accusing his opponents of trying to extract a ransom for not ruining the economy in the latest fiscal fight. At a White House news conference called to promote his position on the budget, Obama vowed not to trade cuts […]

The upcoming spending fight at the not-so-OK corral

The upcoming spending fight at the not-so-OK corral

Two early showdowns on spending and debt will signal whether the new Congress can find common ground despite its partisan divisions or whether it’s destined for gridlock and brinkmanship that could threaten the nation’s economic health. Not all of the bickering in the 112th Congress that convenes Wednesday will be between Republicans and Democrats. House […]

Obama delays 2012 budget release

Obama delays 2012 budget release

President Barack Obama, who has pledged to tackle long-term U.S. debt and deficit challenges, will delay the delivery of his fiscal year 2012 budget by about a week until after February 14. An administration official said on Monday the delay was due to the long time it took for the U.S. Senate to confirm Jack […]