Tag: US Congress
US CongressObama asks Congress for a 1.2 trillion dollars increase in US debt limit
US President Barack Obama formally notified Congress that he plans a 1.2 trillion dollars increase in the US debt limit, setting the stage for Republicans to level election-year charges that deficits are out of control.
US political stalemate as the Congress fails to agree on budget cuts and debt
A special debt-reduction committee in the US Congress failed to reach agreement, extending partisan gridlock into the 2012 election year and setting the stage for 1.2 trillion dollars in automatic spending cuts.
US debt soars past 15tn while another political storm is brewing in Congress
The US government's debt load topped the 15 trillion dollars mark Wednesday, as politicians in Congress continued to battle over how to cut spending. Treasury figures showed the burden of federal borrowing reached 15,033,607,255,920.32, up 55.8 billion from Tuesday.
Gallup governance poll shows 81% dissatisfied with the US political system
A record-high 81% of US citizens are dissatisfied with the way the country is being governed, adding to negativity that has been building over the past 10 years.
Obama to propose a “Buffett Tax” on people making over a million dollars
US President Barack Obama, will propose a 'Buffett Tax' on people making more than US$1 million a year as part of his deficit recommendations to Congress on Monday.
Buffett calls on the US Congress to “stop coddling the super rich”
Warren Buffett has called for Congress to make him and his “mega-rich friends” pay more income tax. In a piece in The New York Times newspaper, the billionaire investor and philanthropist said the rich should do more to help plug the deficit.
US voters furious: disapproval of Congress rises to an all-time high of 82%
Disapproval of the United States Congress rose to an all-time high after weeks of rancorous partisan battles over raising the US debt ceiling took the country to the brink of default, according a New York Times/CBS News public opinion poll published on Friday.
Compromise achieved, fiscal reform is the next chapter, says Geithner
Following the political agreement which enabled the US Congress to lift the debt ceiling and avoid default, Treasury Secretary Timothy Geithner wrote a piece for The Washington Post, where he displays what in his opinion are the following steps for the world’s largest economy to restore fiscal responsibility and sustainability.
Geithner admits battle over debt limit has damaged confidence in the US economy
US Treasury Secretary Timothy Geithner said he is not sure whether the bitterly fought debt agreement to be considered by the US Senate will avoid a downgrade of the U.S. top-tier credit rating.
IMF urges a political agreement on the US federal debt ceiling
Failure by US lawmakers to agree soon on a deal to raise the government's borrowing limit could deliver a “severe shock” to a still fragile recovery and global markets, the International Monetary Fund warned.
