A United States congresswoman running a surprising strong campaign for the Republican presidential nomination has compared herself to ex-British Prime Minister Margaret Thatcher in a foreign policy speech aimed in part at convincing US veterans that she would make a strong commander in chief.
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.
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.
The Nobel Prize winner economist Paul Krugman harshly criticized President Barack Obama for giving in to pressure compromising on a debt ceiling deal that defenders say will save the country from default.
US House of Representatives speaker John Boehner is urging Republicans to back his plan to cut the US budget and raise the debt limit. Boehner's appeal to conservative House Republicans came despite a White House veto threat and rejection from Democratic leaders in the Senate.
Moody's has warned it may downgrade the US debt rating if Congress fails to increase the US debt limit in the coming weeks and risks default. The agency warned of political entrenchment preventing an increase.
United States Treasury Secretary Timothy Geithner said he was confident Congress would raise the country’s debt limit and that it may need to do so before a deal is reached to rein in future budget deficits.
United States will reach its 14.29 trillion US dollars legal debt limit no later than May 16 unless Congress acts before then, Treasury Secretary Timothy F. Geithner said on Monday warning of “severe hardship” if lawmakers fail to act.
Barack Obama is likely to announce plans next week to run for re-election and file campaign papers with the Federal Election Commission as early as Monday, a Democratic official said.
President Barack Obama said on Tuesday the tentative tax deal he struck with Republicans is a good deal for the American people and a long political fight over tax cuts would have been bad for the US economy.