Tag: US debt limit

• Friday, January 13th 2012 - 19:51 UTC

  Obama 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.

• Monday, August 1st 2011 - 07:16 UTC

  Obama announces agreement to raise US debt-limit; Congress has to vote the deal

  

  President Barack Obama announced Sunday Republican and Democratic leaders have reached an agreement on raising the US debt limit and avoiding default. He said the deal would cut one trillion dollars of spending over 10 years, and set up a committee to report by November on a proposal to further reduce the deficit.