United States public debt

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

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

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 […]

Debt limit vote vote set for House; Obama expected to sign

Debt limit vote vote set for House; Obama expected to sign

A measure to extend the U.S. debt limit for nearly four months moved closer on Tuesday to a vote and the White House said the president would sign the bill if it cleared Congress, easing uncertainty that could have threatened the U.S. economy. The debt limit “suspension,” which would allow the government to borrow money […]

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 […]

No clear path for Obama to act alone on debt ceiling crisis

No clear path for Obama to act alone on debt ceiling crisis

The White House would be taking a risk if it tries to make a constitutional end-run around Congress’ authority to raise the debt ceiling, legal experts said. The “public debt” clause of the 14th Amendment is being cited by a number of lawmakers as giving President Barack Obama a legal way to issue debt and […]

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 […]